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Articles with tag "Banks"

Court Freezes Shares of Raiffeisen’s Russian Division, Delaying Sale

The court’s injunction is tied to a lawsuit by Russian investment holding company Rasperia against Austrian construction firm Strabag.

Russia Revokes Goldman Sachs’ Brokerage License

The U.S. investment bank is continuing to scale back its presence in the country following Russia’s invasion of Ukraine.
1 Min read

Kyrgyz Banks Suspend In-App Money Transfers to Russia

The move comes after the U.S. in June introduced new sanctions against Russia over its war in Ukraine, including restrictions on the Moscow Exchange.
1 Min read

Raiffeisen’s Russian Division Suspends Foreign Currency Transfers

The bank said the decision to suspend transfers was made due to pressure from the European Central Bank.
1 Min read

Russia Revokes American Express Bank License

Vladimir Putin granted American Express Bank permission to “voluntarily liquidate” its Russian operations in May.
1 Min read

Raiffeisen Bank to ‘Drastically’ Reduce Operations in Russia

The lender also said its Russian division posted $763.6 million of the global unit’s consolidated profit of $1.4 billion in January-June. 
2 Min read

Bank of China Halts Payments With Sanctioned Russian Lenders – Kommersant

Industry insiders said the decision was made in order to avoid being hit by secondary sanctions from Washington.
2 Min read

Kyrgyz Banks Suspend Money Transfers With Russia

Some banks introduced restrictions on ruble conversions due to the volatility of the exchange rate and possible sharp fluctuations in the market.
1 Min read

Tinkoff Bank Changes Name, Ending Association With Exiled Founder

T-Bank, Russia’s third-largest lender, said its 43 million customers would not notice the change, with its products and services continuing as usual...
2 Min read

Raiffeisen’s Russian Division to End Outgoing U.S. Dollar Payments

Raiffeisen said the move was due to “changed requirements of correspondent banks.”
2 Min read

Russia Seizes Deutsche Bank, UniCredit Assets

The banks had been guarantors of a major gas processing and liquefaction plant in cooperation with Germany's Linde, which quit the project due to the war...
1 Min read

Major European Banks Paying Russia More in Taxes Than Before Ukraine Invasion – FT

The seven lenders reportedly paid over 800 million euros in taxes to the Russian state last year, a fourfold increase compared to 2021. 
2 Min read

Raiffeisen Touts Russia ‘Expansion’ in Job Ads Despite Intended Exit – FT

The Austrian bank has placed more than 2,400 job ads in Russia since December 2023, the Financial Times reported.
2 Min read

Kremlin Slams Western 'Pressure' on Chinese Banks Over Russian Payments

Some Chinese lenders have reportedly stopped accepting payments in Chinese yuan from Russian companies.
2 Min read

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."
2 Min read

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

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

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

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

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
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