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World's largest wealth fund gets nod to start selling Russian stocks blocked after 2022 Ukraine invasion
1 month ago

World's largest wealth fund gets nod to start selling Russian stocks blocked after 2022 Ukraine invasion

Firstpost  

Permission to sell the wealth fund’s Russian stocks is given on the condition that the sale can be done in line with applicable sanctions Norway’s sovereign wealth fund, the largest in the world with $1.8 trillion in assets, has received the green light to sell its holdings in Russian companies, provided such transactions comply with international sanctions, the country’s deputy …

Russia Assets Fund Russian Sell Russian Stocks
India and Russia have doubled rupee-rouble payments in 2024, says largest Russian bank
5 months, 3 weeks ago

India and Russia have doubled rupee-rouble payments in 2024, says largest Russian bank

The Hindu  

India and Russia have doubled their payments in national currencies since last year despite sanctions by the U.S. and European Union, said Russia’s largest, state-controlled bank Sberbank that handles a majority of payments for Indian exports to Russia. The surge may rise further after Prime Minister Narendra Modi’s visit to Moscow last week, economists and Indian businessmen working in Russia …

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Russia says it has billions of Indian rupees that it can’t use
1 year, 8 months ago

Russia says it has billions of Indian rupees that it can’t use

Live Mint  

Russia has accumulated billions of rupees in Indian banks which it can’t use, Foreign Minister Sergei Lavrov said Friday, pointing to a ballooning trade surplus with the South Asian nation. But for this, these rupees must be transferred in another currency, and this is being discussed now.” India’s total exports to Russia shrunk 11.6% to $2.8 billion in the first …

India Trade Russia Indian Billion Russian Rupees
Two Russian Banks open special vostro account in Delhi for overseas rupee trade
2 years, 2 months ago

Two Russian Banks open special vostro account in Delhi for overseas rupee trade

Live Mint  

In order to facilitate overseas trade in rupee, Two Russian banks, Sberbank and VTB Bank have opened a special vostro account in their respective branches in Delhi, news agency PTI has reported citing sources. These banks have opened special vostro account in their respective branches in Delhi, sources have said. Earlier last month, UCO Bank received RBI's approval of opening …

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Russian banks open special vostro accounts for foreign trade in rupee following RBI approval
2 years, 2 months ago

Russian banks open special vostro accounts for foreign trade in rupee following RBI approval

India TV News  

Highlights Russia's Sberbank and VTB Bank got approval from RBI to facilitate foreign trade in rupee Both the Russian banks opened special vostro accounts in each of their Delhi branches The RBI is keen to promote cross-border trade in rupee Russian banks: After getting a nod from the Reserve Bank of India, at least two Russian banks have opened special …

India Russia Indian Bank Foreign Trade Russian Rbi
Russia’s Sberbank to sell off sanctions-hit Swiss subsidiary
2 years, 4 months ago

Russia’s Sberbank to sell off sanctions-hit Swiss subsidiary

Associated Press  

GENEVA — The Swiss financial markets watchdog said Friday that Sberbank, one of Russia’s largest banks, is selling its Swiss subsidiary, which had come under pressure because of international sanctions on Russian interests over the invasion of Ukraine. FINMA, the Swiss markets authority, said in a statement Friday that it had lifted “protective measures” — mainly to protect clients — …

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EU envoys agree Russian gold embargo, freeze on Sberbank assets
2 years, 5 months ago

EU envoys agree Russian gold embargo, freeze on Sberbank assets

Al Jazeera  

EU set to impose a seventh round of sanctions on Russia over its invasion of Ukraine, including on its biggest lender. European Union diplomats meeting in Brussels have agreed a new round of sanctions against Moscow for its war in Ukraine, including a ban on importing gold from Russia and freezing the assets of the country’s top lender Sberbank. #EU2022CZ …

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EU approves sanctions targeting Russian oil and Sberbank
2 years, 7 months ago

EU approves sanctions targeting Russian oil and Sberbank

Al Jazeera  

The bloc drops the leader of Russia’s Orthodox Church from a proposed blacklist after Hungary opposes the move. The European Union has given its final approval to new sanctions on Russian oil and top bank Sberbank, after much wrangling with Hungary, as punishment for Russian President Vladimir Putin’s February 24 invasion of Ukraine. The sixth round of sanctions also included …

Ukraine Oil Sanctions Putin Hungary Russian Oil Sberbank
Turkish nuclear plant threatened by Russian sanctions
2 years, 7 months ago

Turkish nuclear plant threatened by Russian sanctions

Al Jazeera  

Akkuyu nuclear power plant would be Turkey’s first, but Russia’s invasion of Ukraine may cause problems. Istanbul, Turkey – Unprecedented sanctions against Russia over its invasion of Ukraine have led to fresh concerns about Turkey’s first nuclear power plant, which is being built by Moscow’s state-owned nuclear company. Moscow will strive to fulfil next year’s deadline so it can get …

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EU proposes phased Russian oil embargo, more sanctions
2 years, 8 months ago

EU proposes phased Russian oil embargo, more sanctions

The Hindu  

The EU proposed its toughest sanctions yet against Russia on Wednesday, including a phased oil embargo, as Ukraine came under further heavy Russian bombardment and nervously monitored large-scale army drills in neighbouring Belarus, a close Moscow ally. Piling pressure on Russia’s already battered $1.8 trillion economy, the European Commission proposed phasing out supplies of Russian crude oil within six months …

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EU president Ursula von der Leyen calls for ban on Russian oil imports in new set of sanctions over Ukraine invasion
2 years, 8 months ago

EU president Ursula von der Leyen calls for ban on Russian oil imports in new set of sanctions over Ukraine invasion

ABC  

The European Union's top official says the 27-nation bloc should ban oil imports from Russia in a sixth package of sanctions targeting Moscow for its war in Ukraine. Key points: The EU president called for crude oil imports to be phased out within six months and refined products by the end of the year The proposals need to be unanimously …

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EU chief proposes Russian oil ban in new round of sanctions
2 years, 8 months ago

EU chief proposes Russian oil ban in new round of sanctions

Al Jazeera  

The proposal, if accepted by EU members, seeks to stop crude oil imports in six months and refined products by end of 2022. European Commission President Ursula von der Leyen also proposed on Wednesday that three major Russian banks be disconnected from the SWIFT international banking payment system and called for a ban on three state-owned broadcasters. Reflecting widespread anger …

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Why Chinese bankcard chips may not ease Putin’s economic pain
2 years, 8 months ago

Why Chinese bankcard chips may not ease Putin’s economic pain

Al Jazeera  

Russia has turned to China for microchips it needs to meet surging demand for its domestic bank cards. “Russia benefits from very high literacy rates, as well as smartphone and internet penetration, and Russian banks have invested heavily in app-based banking.” ‘Severed from the global economy’ A lack of chips for bank cards would be unlikely to deal a significant …

China Ukraine Russia Financial Sanctions Economic Western
Russia-Ukraine War: Fresh Sanctions by US Target Putin’s Daughters, Banks, Govt Officials
2 years, 9 months ago

Russia-Ukraine War: Fresh Sanctions by US Target Putin’s Daughters, Banks, Govt Officials

News 18  

In the aftermath of the gruesome Bucha killings, the United States and its allies have imposed fresh sanctions against Russia. “Sanctions against Russia must be ruinous enough for us to end this terrible war,” said the head of Ukraine’s presidential office, Andriy Yermak. The new sanctions target Russian President Vladimir Putin’s two adult daughters, Russia’s Sberbank and a ban on …

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US sanctions Putin's daughters and more Russian banks
2 years, 9 months ago

US sanctions Putin's daughters and more Russian banks

India Today  

The United States targeted Russian banks and elites with a new package of sanctions on Wednesday that includes banning any American from investing in Russia, after Washington and Kyiv accused Moscow of committing war crimes in Ukraine. The new sanctions will put full blocking sanctions in Russia's Sberbank, which holds one-third of Russia's total banking assets, and Alfabank, a senior …

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U.S. announces more Russia sanctions
2 years, 9 months ago

U.S. announces more Russia sanctions

The Hindu  

Days after gruesome images of murdered civilians in the Bucha suburb of Kyiv surfaced, the White House announced that it would impose further sanctions on Russian entities and individuals, including a ban on American investments in Russia and sanctions on the families of Russian President Vladimir Putin and his Foreign Minister Sergey Lavrov. The measures against Russia would include “full …

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April 6, 2022 Russia-Ukraine news
2 years, 9 months ago

April 6, 2022 Russia-Ukraine news

CNN  

European ambassadors met in Brussels today to debate the European Commission’s proposal on new sanctions against Russia as Russian forces ramped up attacks in Ukraine. NATO head predicts Ukraine conflict could continue “for a long time”: Although Russia is now concentrating its assault on eastern Ukraine, NATO has seen “no indication” that Putin’s aim of controlling the whole country has …

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April 6, 2022 Russia-Ukraine news
2 years, 9 months ago

April 6, 2022 Russia-Ukraine news

CNN  

European ambassadors met in Brussels today to debate the European Commission’s proposal on new sanctions against Russia as Russian forces ramped up attacks in Ukraine. NATO head predicts Ukraine conflict could continue “for a long time”: Although Russia is now concentrating its assault on eastern Ukraine, NATO has seen “no indication” that Putin’s aim of controlling the whole country has …

Ukraine Russia Official Putin Russian Russian Forces Nato
How rupee-ruble trade mechanism is shaping up
2 years, 9 months ago

How rupee-ruble trade mechanism is shaping up

Business Standard  

Earlier in March, Business Standard had reported that the government was looking at allowing India-Russia trade in local currencies. Last week, the Reserve Bank of India reportedly met with officials from three Russian financial institutions to discuss possible payment mechanisms that would enable trade between the two countries. The idea calls for deeper engagement by Russian banks that have a …

India Trade Indian Bank Chinese Mechanism Russian
Ukraine war: Russian foreign minister Lavrov's stepdaughter among latest individuals sanctioned by the UK
2 years, 9 months ago

Ukraine war: Russian foreign minister Lavrov's stepdaughter among latest individuals sanctioned by the UK

Firstpost  

This takes to more than 1,000 the number of Russian and Belarusian individuals and businesses sanctioned by London in recent weeks London, United Kingdom: Britain slapped sanctions Thursday on 59 more Russian individuals and entities, as well as six Belarusian enterprises over Moscow’s invasion of Ukraine, targeting a shadowy mercenary firm and the world’s largest diamond producer. The latest measures, …

London Ukraine Britain Belarusian Sanctioned Russian Individuals
Russia gives Sberbank licence to issue, exchange digital assets
2 years, 9 months ago

Russia gives Sberbank licence to issue, exchange digital assets

Al Jazeera  

The move may open new opportunity for the major lender to blunt the effect of Western sanctions. Russia’s central bank on Thursday said it had given major lender Sberbank a licence to issue and exchange digital financial assets, a move that may open new opportunities for the bank as it seeks to blunt the effect of Western sanctions. Blockchain platform …

Russia Central Bank Digital Digital Assets Western Sanctions Sberbank Sbercoin
Sanctions send prices up, businesses down and loved ones out of reach for ordinary Russian people
2 years, 9 months ago

Sanctions send prices up, businesses down and loved ones out of reach for ordinary Russian people

India Today  

Western countries, led by the US, UK and European Union, have imposed a number of sanctions and financial penalties on Russia since it invaded Ukraine on February 24. FOLLOW LIVE UPDATES ON UKRAINE-RUSSIA WAR PRICES GO UP Since Russia invaded Ukraine, the Russian ruble has plummeted. As the sanctions kicked in, the Russian government started limiting how much people could …

Ukraine Russian Russians Moscow Russia
Russia considers Chinese payment system, as Beijing calls Moscow its 'most important strategic partner'
2 years, 10 months ago

Russia considers Chinese payment system, as Beijing calls Moscow its 'most important strategic partner'

ABC  

China has once again refused to condemn Moscow's actions in Ukraine, as Russian banks say they will look into issuing cards that operate on a Chinese payment system after Visa and Mastercard said they would cut their services in Russia. Key points: A Chinese spokesperson says Russia and China's friendship is "iron clad" Russian banks are considering using China's UnionPay …

China Ukraine Russia Taiwan Visa Payment Chinese
Russian banks mull China UnionPay; big accounting firms exit
2 years, 10 months ago

Russian banks mull China UnionPay; big accounting firms exit

Associated Press  

LONDON — Leading Russian banks are looking into using a Chinese payment rival after Visa and Mastercard suspended operations, while all the big global accounting firms said they would pull out of Russia in the latest corporate fallout over the invasion of Ukraine. Sberbank and Tinkoff Bank said Sunday that they are considering the possibility of payment cards powered by …

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