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Articles with tag "Finance"

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.

Russians Bring Money Home Despite Easing of Capital Controls, Central Bank Data Shows

This year is now on track to become the first in which households bring home more money than they move out.
2 Min read

Russia Plans Limits on Cash and Gold Exports in Push to Curb Shadow Economy

Officials complain that gold has increasingly become a substitute for foreign currency in illicit transactions.
2 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

Finance Ministry to Debut Borrowing in Chinese Yuan in December

The ministry said it would offer two series of OFZ bonds, each worth 10,000 yuan ($1,400), with maturities ranging from three to seven years and interest...
2 Min read

Russia Plans First-Ever Yuan-Denominated Bond Issue to Plug Growing Budget Deficit – Reuters

The yuan bond sale is likely to be financed by large state exporters earning revenue in Chinese currency.
2 Min read

Russians Snap Up Record Amounts of Gold as Sanctions Reshape Savings Habits

Western sanctions and restrictions on foreign currency transactions have made gold a popular option for Russians seeking to safeguard their wealth.
2 Min read

Russian Banks Slash Credit Card Issuance After 2 Months of Growth

The average credit limit on new cards also fell by 40,000 rubles ($500) to 109,000 rubles ($1,364), the lowest since April 2024.
2 Min read

Russians Repatriate Record Sums From Foreign Banks – Central Bank

Russians have repatriated about 188 billion rubles ($2.31 billion) in total since March.
2 Min read

Russia’s Credit Growth Slows as Households Cut Borrowing

The Central Bank described retail lending as “weak” and corporate lending as “moderate,” attributing the slowdown to its tight monetary policy...
2 Min read

Russian Banks Reject 80% of Loan Applications as Debt Burden Rises

Economists say the low approval rate is a symptom of Russia’s heavy household debt load, which reached nearly $420 billion by the end of 2024.
2 Min read

Russia’s VTB Bank Faces Collapse in Lending Income as War Pressures Mount – Bloomberg

The state-owned lender’s net interest income plunged 49% in the first half of the year, an unusually steep drop for a bank of its size.
2 Min read

Illegal Lending Poised to Rise in Russia as Borrowing Conditions Tighten – Report

The Central Bank has imposed sweeping restrictions on consumer lending.
3 Min read

Putin Signs Law Allowing Police to Freeze Bank Accounts Without Court Orders

Legal experts have raised concerns about the law’s scope and lack of clarity.
2 Min read

Russian Banks Report Deposit Outflows Amid Falling Rates and Freeze Fears

Eight of the country’s 20 largest credit institutions experienced deposit outflows in June.
2 Min read

Ruble Falls After Latest Russia-Ukraine Talks Make Little Progress

“The market was disappointed by the largely symbolic nature of Wednesday’s round of Russian-Ukrainian negotiations in Istanbul,” one analyst said...
2 Min read

Oman Tightens Banking Restrictions on Russian Firms – Vedomosti

Russian companies have increasingly turned to Oman for cross-border settlements after tighter financial regulations took effect in the United Arab Emirates...
2 Min read

1 in 3 Russians Report Transfer Blocks Under New Central Bank Rules, Survey Finds

The measures, which went into effect on May 15, give banks the authority to limit transfers and block cards in cases of suspected fraud.
2 Min read

Russia’s Fast Payment System Hit by Major Outage

The disruption of the Central Bank-operated FPS also affected key financial services, including those of Sberbank, T-Bank, Ozon Bank and Yandex Pay.
1 Min read

Survey Shows Many Russians Lack Financial Reserves

Approximately 38% of employed Russians have no financial cushion in case of an emergency.
1 Min read
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