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All Turkish Banks Halt Russia’s Mir Payment System – Reports

Three Turkish state banks plan to exit Russia’s Mir payments system over U.S. warnings of sanctions, Bloomberg reported Tuesday, citing an unnamed...

financial squeeze

China’s Visa Alternative Cuts Off Russian Banks Over Sanctions – RBC

Demand for UnionPay cards in Russia surged following Visa and Mastercard’s exit in the wake of the invasion of Ukraine.

downsize reversal

Foreign Banks Hiring Russian Employees as Exit Plans Hit Roadblocks – Reuters

Russian authorities have take steps to obstruct Western banks' exit from the country.

expanding presence

Russian Banks to Open Branches in Ukraine’s Occupied Kherson Region

The Kherson region's “Russification” has prompted speculation that its Moscow-installed authorities could stage a referendum to join Russia.

specialized workforce

Deutsche Bank Moves Hundreds of IT Workers from Russia to Germany – FT

The departures are part of a wider brain drain out of Russia since the country sent troops into Ukraine.

Unified Biometric System

Russian Banks to Share Clients’ Biometric Data With the State – Kommersant

Russia’s Unified Biometric System (UBS), which is accessible to Russia’s police and intelligence services, was created in 2018 to allow the use of...

hostile takover

Russian Bank Founder Says Kremlin Forced Sale of His Group Stake

Oleg Tinkov said the Kremlin told the Tinkoff Bank’s senior executives to cut ties with him after his explosive April 19 Instagram post denouncing the...

'perfect time to retire'

Russian Bank Founder Sells Group Stake After Ukraine Criticism

Oleg Tinkov, one of Russia's best-known entrepreneurs, strongly criticized Russia's military operation in Ukraine on social media.

China’s Visa, Mastercard Alternative Backs Away From Russia – Reports

Russian banks planned to issue cards using UnionPay after Visa and Mastercard suspended operations last month.

Russia Says Will ‘Go to Court’ if Declared in Default

Credit ratings agency S&P said Russia had gone into "selective default" after it repaid dollar-denominated bonds in rubles.

French Bank SocGen Exits Russia

The move makes SocGen the first large European financial group to leave the Russian market.

Nothing to lose

Sanctioned Russian Banks To Expand Into Crimea

Heavily sanctioned by the West, most Russian banks now have little to fear from working in the annexed territory.

Goldman Sachs Becomes First Big U.S. Bank to Leave Russia

The U.S. investment bank announced it would pull out of Russia, becoming the first Wall Street institution to distance itself from Moscow.

China-Backed Bank Halts Lending to Russia, Belarus

China, whose bilateral relationship with Russia has strengthened in recent years, has thus far avoided criticizing Moscow over its invasion of Ukraine...

EU Cuts Russian Banks from SWIFT, Bans RT, Sputnik

"This is the largest sanctions package in our Union's history."

Visa, Mastercard, Amex Block Russian Banks After Sanctions

The steps taken by the credit card firms prevent these entities and individuals from accessing their platforms.

‘GUN TO OUR HEAD’

‘Illogical and Unfair’: Russian Firms Hunker Down Under Sanctions Threat

Despite signs of de-escalation, the war scare has spooked Russia’s government and firms into action over their vulnerabilities to Western sanctions.

increasing debts

Russian Banks Post Record Profits in 2021

A post-pandemic borrowing binge by Russian companies and households has unsettled the Central Bank.

Fading Sanctions Fears Push VTB to Retake Control of Pochta Bank

VTB to reverse the deal which saw it relinquish majority control following U.S. sanctions on Russia in 2014.

Russia’s Central Bank Accelerates Sale of Bailed-Out Otkritie Bank

The regulator is searching for strategic investors who could buy a controlling stake this year.

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