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Articles with tag "Banks"
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.
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.
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.
news
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.
debt standoff
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.
cutting losses
French Bank SocGen Exits Russia
The move makes SocGen the first large European financial group to leave the Russian market.
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