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Articles with tag "Banks"
vtb bank
U.S. Charges Russian Banker Kostin With Sanctions Evasion, Money Laundering
The indictment is part of five charges the U.S. brought against "Russian criminals who finance and enable Russia’s war."
closed accounts
UAE Banks Limit Payments With Russia Over Secondary Sanctions Threat – Vedomosti
Major lenders have stopped processing payments to and from Russia and are gradually closing the accounts of Russian citizens, according to business insiders...
2 Min read
'logistics collapse'
Major Chinese Bank Halts All Settlements With Russia – Vedomosti
Chouzhou Commercial Bank became the main transaction channel for Russian importers after the invasion of Ukraine.
2 Min read
transit jurisdiction
Turkish Banks Close Russian Corporate Accounts Over Secondary Sanctions – Vedomosti
At least two Turkish banks started closing the accounts of a “significant number” of Russian companies and banks after the U.S. threatened to blacklist...
2 Min read
secondary sanctions
Chinese State Banks Step Up Compliance on Russian Clients – Bloomberg
At least two Chinese banks have recently launched reviews of their Russian business involved with cross-border deals, according to sources.
1 Min read
economic pressure
U.S. Starts Targeting Banks That Help Russian War in Ukraine
"We are sending an unmistakable message: anyone supporting Russia's unlawful war effort is at risk of losing access to the U.S. financial system."
3 Min read
'special decision'
Putin Approves Sale of Italian Bank Intesa’s Russian Subsidiary
Italy’s largest bank stopped new financing to corporate Russian clients and fresh investments in Russian assets after Moscow invaded Ukraine last year...
1 Min read
hefty fee
Raiffeisen’s Russian Division Imposes 50% Commission on Incoming Dollar Transfers
The minimum commission charged will be $1,000, up to a maximum of $10,000.
2 Min read
sending slowdown
Money Transfers From Russia Fall in Wartime First
Remittances from Russia to Kazakhstan, Georgia, Armenia and Kyrgyzstan totaled $625.9 million, a 33% drop compared to the same time last year.
1 Min read
cash dash
Russians Withdrew Over $1 Bln From Banks During Wagner Mutiny
It was the highest surge in demand for cash since the Kremlin announced a military mobilization in the fall of 2022.
1 Min read
spinoff delay
Raiffeisen Bank Hopes War Ends 'Soon' to Avoid Costly Russia Exit – Reuters
Vienna privately thinks restoring long-standing relations with Russia while publicly supporting Kyiv during Moscow’s 16-month invasion will still be...
2 Min read
No more euro
Austria’s Raiffeisen Bank Suspends Euro Transfers in Russia and Neighboring Countries
Raiffeisen Russia said the change — impacting both individual and corporate clients — was due to “restrictions imposed by correspondent banks.”...
1 Min read
Bleeding Money
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
Dirty money
Swiss Court Finds Gazprom Bankers Guilty in Putin Money Laundering Case
The accounts in the Swiss branch of Gazprombank were held by "Putin's cellist" Sergei Roldugin.
2 Min read
Bank run
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
Under pressure
European Central Bank Asks Raiffeisen to Scale Back Russian Operations
The news comes just a day after Ukraine added the Austrian bank to its list of international sponsors of the war.
1 Min read
shrinking mir
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.
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