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Articles with tag "Finance"

Losing $300Bln in Frozen Assets Is a Price Worth Paying to Break Western Grip on Global Finance, Putin Says

He argued that Western appropriation of Russian funds would trigger an “irreversible trend toward the regionalization of payment systems.”

Russia Is Preparing New Tax Hikes. Here’s Why.

As military spending soars, the Finance Ministry seeks to move away from the flat income tax that was long a cornerstone of Putin’s economic policy.
5 Min read

Kyrgyzstan Says Suspended Mir Payment Cards Under Threat of Shutdown

Kyrgyzstan's national payments operator previously said it would stop servicing Mir bank cards to "minimize the risk of secondary sanctions." 
2 Min read

Kyrgyzstan To Stop Accepting Russian Payment Cards

Kyrgyzstan's Interbank Processing Center said it would stop servicing Mir bank cards in order to "minimize the risk of secondary sanctions."
1 Min read

Binance Crypto Firm’s Successor in Russia Announces Closure

CommEX, which launched in September, had bought Binance’s Russian operations for an undisclosed sum.
1 Min read

Armenian Banks to Suspend Russia’s Mir Payment System – RBC

The suspension will hinder Russian nationals living in Armenia from making non-cash transactions with their Mir cards, Russia's alternative to Visa and...
1 Min read

Russia Unveils Huge Spending Hike to Battle 'Hybrid War'

Defense spending was set to jump to almost $111.15 billion, totaling around 6% of GDP — more than spending allocated for social policy.
3 Min read

Binance Restricts Russian Clients to Ruble Transactions

Binance’s restrictions follow reports on a U.S. Justice Department investigation into the company's possible violation of sanctions against Russia....
2 Min read

Russia’s Budget Deficit Surpasses 2023 Target in January-April

The federal budget deficit has already reached $45 billion — higher than the government's target of $43 billion for the entire year.
1 Min read

Russia's Sanctioned VTB Bank Reports Record $7.7 Bln Loss

The bank said it had suffered from an "unprecedented" outflow of foreign currencies last year.
1 Min read

Russia’s Qiwi Posts Record 2022 Profit as ‘Sanctions Beneficiary’

Russia found itself cut off from many payment services last year following the invasion of Ukraine.
2 Min read

Austria's Raiffeisen Bank Eyes Sale of Russian Operations

Austrian banking group Raiffeisen on Thursday said it was considering a "sale or spin-off" of its Russia operations.
1 Min read

Baring Vostok Investors Leave Russia After Fraud Sentences End

Michael Calvey and Philippe Delpal's trial had sent shockwaves through Russia’s investment community. 
2 Min read

Russia Moves to End Tax Deal With 'Unfriendly' Countries

Their statement follows an EU decision this week to add Russia to its tax-haven blacklist. 
1 Min read

Russia's Biggest Bank Announces Huge 2022 Fall in Profits

Russia's Sberbank on Thursday announced its net profit dropped nearly 80% in 2022 in the wake of the Russian invasion of Ukraine.
1 Min read

Russia’s December Fiscal Deficit at Record-High – Bloomberg

Russia’s monthly fiscal deficit reached a record 3.9 trillion rubles in December amid the EU-imposed ban on seaborne crude oil exports and the increasing...

Over a Third of Russians Admit Trying to Reduce Food Bill – State Poll

Amid sharply rising prices, inflation at 12.7% and disruption to supply chains due to Western sanctions, around 35% of Russian citizens say they are trying...
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