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Articles with tag "Banks"

opinion Tatyana Rybakova

How the Kremlin Is Considering Cracking Down on Financial Freedom

As banks intrude into customers' affairs and a draft bill plans to restrict cryptocurrencies, it's no surprise Russians turn to conspiracies.

ING Terminates Sale of Russian Business

The Dutch lender said it canceled the deal after determining there was “no realistic expectation” the buyer would obtain the required regulatory approvals...
1 Min read

Russian Crypto Payments Network Seeks Africa Expansion – FT

A7's crypto network offers a way for Russia to bypass Western financial systems following sanctions imposed over the war in Ukraine.
2 Min read

Mass Outage Hits Sberbank and Other Major Russian Lenders

Sberbank customers began reporting issues with making payments and transferring money around 10 a.m. Moscow time.
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Explosion Rips Through Bank Entrance in Northeastern Moscow

Law enforcement said that a 15-year-old had admitted to setting fire to a Rosselkhozbank ATM “following instructions from his handlers over the phone...
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Russians Turn to Cash as Card Blocks, Mobile Internet Outages Erode Trust in Digital Payments

Russians withdrew more cash from ATMs in January than in any month since the market turmoil that followed the invasion of Ukraine in March 2022.
2 Min read

Russian ‘Military Bank’ Posts 2025 Loss Amid Rising Defaults

The results underscore growing strains in parts of Russia’s banking system as high interest rates and heavy wartime borrowing weigh on companies.
3 Min read

Sberbank Reports Record $22Bln Profit in 2025

It marked a third consecutive year of growth for the majority state-owned lender despite Western sanctions.
1 Min read

Renaissance Capital Completes Buyout of Citibank’s Russian Operations

AO Citibank will be renamed to AO RenCap Bank and will continue servicing its existing clients as a “standalone entity,” Renaissance Capital said.
2 Min read

Credit Bank of Moscow Posts Rare Loss as Bad Loans Surge

Most of the losses were recorded in December, when the bank posted an 8.2-billion-ruble ($106.6 million) loss.
2 Min read

Russian Banks Shut Branches at Fastest Pace in Years as Services Move Online

The increase in closures reflects banks’ efforts to shift customers to remote services in order to cut costs and improve profitability, the Central Bank...
2 Min read

Citigroup Approves Sale of Russian Operations, Flagging $1.2Bln Loss

AO Citibank, which conducts the company’s remaining operations in Russia, will be sold to Renaissance Capital.
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Putin Signals Support for Online Marketplaces in Dispute With Banks – The Bell

The Bell suggested that Putin’s apparent affinity for online marketplaces may be influenced by his close ally Yury Kovalchuk, who is reportedly connected...
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Russian Central Bank Says It Will Seek Damages From European Lenders

Without naming which banks it plans to take to court, the regulator said it was responding to ongoing attempts to seize its assets.
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Duma Moves to Increase State Access to Russians’ Financial Transactions

The legislation will allow Rosfinmonitoring to directly access transaction data from the National Payment Card System.
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Italy's UniCredit Moves Toward Russia Exit as Top Executives Quit and Leasing Assets Sold

Several senior executives have resigned and the group has shed local assets.
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Russia’s MKB Flags Deepening Loan Losses as Bad Debt Surges Eightfold

Clients failed to repay 585 billion rubles ($7.66 billion) in loans on time between January and September.
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Russia’s Central Bank to Lift Restrictions on Foreign Currency Transfers

Money transfers by Russians and non-residents of “friendly” countries will be unrestricted starting Dec. 8, the Central Bank said.
1 Min read
News Analysis

How Customer Discounts Ignited a Battle Between Russia’s Banks and E-Commerce Giants

Russia’s top e-commerce platforms offer discounts to customers who use the platforms’ in-house banks. Traditional lenders are now crying foul.
6 Min read

Vice President of Putin’s ‘Personal Cashbox’ Jailed 8.5 Years for Bribery

Igor Andreev was arrested in March 2024 after police investigators said they caught him receiving part of an illicit payment tied to a real estate development...
2 Min read
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