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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.

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.

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.

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...

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.”...

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.

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.

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.

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.

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.

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