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Articles with tag "Finance"

no expense spared

Russia Unveils Huge Spending Hike to Battle 'Hybrid War'

Defense spending was set to jump to almost $111.15 billion, totaling around 6% of GDP — more than spending allocated for social policy.
currency cut-off

Binance Restricts Russian Clients to Ruble Transactions

Binance’s restrictions follow reports on a U.S. Justice Department investigation into the company's possible violation of sanctions against Russia....
2 Min read
in the red

Russia’s Budget Deficit Surpasses 2023 Target in January-April

The federal budget deficit has already reached $45 billion — higher than the government's target of $43 billion for the entire year.
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
cross-border payments

Russia’s Qiwi Posts Record 2022 Profit as ‘Sanctions Beneficiary’

Russia found itself cut off from many payment services last year following the invasion of Ukraine.
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
CONTROVERSIAL CHARGES

Baring Vostok Investors Leave Russia After Fraud Sentences End

Michael Calvey and Philippe Delpal's trial had sent shockwaves through Russia’s investment community. 
2 Min read
benefit revoked

Russia Moves to End Tax Deal With 'Unfriendly' Countries

Their statement follows an EU decision this week to add Russia to its tax-haven blacklist. 
1 Min read
Sberbank

Russia's Biggest Bank Announces Huge 2022 Fall in Profits

Russia's Sberbank on Thursday announced its net profit dropped nearly 80% in 2022 in the wake of the Russian invasion of Ukraine.
1 Min read
crunching the numbers

Russia’s December Fiscal Deficit at Record-High – Bloomberg

Russia’s monthly fiscal deficit reached a record 3.9 trillion rubles in December amid the EU-imposed ban on seaborne crude oil exports and the increasing...
cost of living

Over a Third of Russians Admit Trying to Reduce Food Bill – State Poll

Amid sharply rising prices, inflation at 12.7% and disruption to supply chains due to Western sanctions, around 35% of Russian citizens say they are trying...
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