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Russian Foreign Minister Sergey Lavrov: BRICS Is Focused on Reducing Dependence on US-Controlled System
26.8.2023
Russian Foreign Minister Sergey Lavrov has declared that the actions of the BRICS bloc, integrated by Brazil, Russia, India, China, and South Africa, are focused on reducing dependency on the economic system managed by the U.S. and its Western allies. He denied a possible unified currency for...
Binance P2P removes sanctioned Russian banks from payments list
25.8.2023
The crypto exchange removed its “yellow” and “green” codewords from its list of payment methods, which previously referred to sanctioned Russian banks
Binance Delists Sanctioned Russian Banks From Peer-to-Peer Service
25.8.2023
Binance has cut ties with five sanctioned Russian banks that were listed on the exchange’s peer-to-peer service to let users transfer funds in rubles, the country’s native currency
Binance dubs barred Russian banks on its platform as ‘Yellow’ and ‘Green’ cards
24.8.2023
Despite the U.S. DOJ investigating Binance for violation of U.S. sanctions with its services in Russia, the firm has continued to promote its platform in the country
BRICS Discussing Single Unit of Account, Alternative to Dollar, Russian Finance Minister Says
24.8.2023
The BRICS members are mulling over the possible launch of a common unit of account, Russia’s Minister of Finance Anton Siluanov unveiled. This would be an alternative to the U.S. dollar that can be used to denote the cost of some commodities, for example, but not a single currency like the euro...
Russian President Putin to BRICS Leaders: Irreversible Process of De-Dollarization Gaining Steam
24.8.2023
Russian President Vladimir Putin said at the BRICS summit that “A balanced, irreversible process of de-dollarization of our economic ties is gaining steam.” The Russian leader stressed: “We oppose hegemonies of any kind and the exceptional status that some countries aspire to, as well as the...
Binance Faces Criticism Over Alleged Transactions with Blacklisted Russian Lenders
23.8.2023
Binance is facing criticism for its alleged involvement in facilitating transfers to and from blacklisted Russian lenders.
According to a Tuesday report from The Wall Street Journal, the world's largest cryptocurrency exchange offered its customers the option to use five sanctioned Russian...
Biggest Movers: BNB Rebounds From 1-Year Low, SHIB Surges Higher
23.8.2023
BNB was one of Wednesday’s biggest movers, as the token rebounded from a recent one-year low. The price decline came as crypto exchange Binance came under scrutiny for allegedly assisting sanctioned Russian clients in moving funds abroad. Shiba inu also rose, following recent losses....
Russian Banks MTS, PSB Say Customers Are Now Using Digital Ruble
23.8.2023
The Russian banks MTS and PSB have begun testing the digital ruble, with “entrepreneurs” using the CBDC to pay for “services.”
The nation’s Central Bank has fast-tracked its CBDC project in recent weeks, and is eyeing a 2025-2027 national rollout.
The banks, along with the likes of VTB Bank,...
Russian Central Bank: Digital Rubles Will Be Classified as ‘Highly Valuable Liquid Assets’
22.8.2023
The Russian Central Bank says it plans to begin classifying the digital ruble, the nation’s CBDC, as a “high-quality liquid asset” (HQLA), and will likely eventually oblige banks in the country to follow suit.
Central banks typically classify assets such as fiat cash, central bank reserves,...
Volatility in Chinese Yuan, Russian Ruble Makes De-Dollarization Harder, Market Analyst Says
21.8.2023
A market analyst says that the recent decline and volatility in the Chinese yuan, the Russian ruble, and to a lesser extent the Argentine peso, “will only add further challenges to the idea of de-dollarization.” He stressed that countries are “unable to agree on a clear path to de-dollarization...
Russian Analyst: Digital Ruble ‘Brings No Benefits’ for Ordinary Citizens
19.8.2023
A Russian analyst has claimed that the digital ruble, the nation’s CBDC, will bring no benefits to ordinary citizens.
The comments were made by Anastasia Tselykh, a special correspondent at RTVI in her most recent column for the media outlet.
The Central Bank launched a pilot this week, which...
Russian Regions Say CBDC Will Help Them Fight Corruption
18.8.2023
Russian regions say that the nation’s CBDC, the digital ruble, will help them fight corruption by “eliminating the shadow economy.”
Per Dela, an economy-focused newspaper that covers the Krasnoyarsk Krai region, officials in Siberia are keen to use the coin to conduct their business....
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Bitcoin Vapid, Gold Weakens as Russian Ruble and Argentinian Peso Crash
16.8.2023
Ruble and Peso crash represent signs of crack in the global market, per one observer. So far, there has been little demand for perceived havens like bitcoin and gold
Xi Jinping, Vladimir Putin Advancing China-Russia Strategic Partnership, Says Chinese Official
16.8.2023
Chinese leader Xi Jinping and Russian President Vladimir Putin “will continue to advance the China-Russia comprehensive strategic partnership,” according to China’s Ministry of Foreign Affairs. The two leaders are set to participate in next week’s BRICS summit. Xi and Putin Advancing...
Russian Ruble Plunges to 16-Month Low vs the US Dollar — Experts Cite Oil Price Cap
15.8.2023
The Russian currency’s exchange rate versus the U.S. dollar recently dropped below RUB100 per greenback — its lowest in 16 months. Economists attribute the ruble’s latest plunge to the effectiveness of a price cap imposed on Russian oil by Western countries. Russ Mould said...
IEA Report: Oil Prices on the Brink of Soaring as Supply Narrows and Demand Shatters Records
12.8.2023
The stage is set for a potentially striking upswing in global oil prices, as supply constricts and demand ascends to unprecedented levels. With oil reserves dwindling at a breakneck pace, OPEC’s spare capacity restrained, and powerhouse consumers like China and India snapping up record...
Russia to Test Digital Ruble in 11 Cities, Moscow Subway
12.8.2023
Russia’s capital Moscow and 10 other cities will host pilot tests for the digital ruble, Bank of Russia Deputy Governor Olga Skorobogatova announced. Over a dozen Russian banks are going to take part in the trials with real transactions and users scheduled to commence in mid-August. Russia Prepares...
Putin and Ramaphosa Discuss BRICS Summit, Trade and Cooperation; Russian President to Join via Video Link
10.8.2023
Russian president Vladimir Putin and South African president Cyril Ramaphosa recently addressed cooperation, trade, and preparations for the upcoming BRICS summit. The two leaders conversed about practical cooperation and the expansion of the organization, reflecting a shared commitment...
Russian Banks Say Citizens Are ‘Wary’ of CBDC Plans – Digital Ruble Faces Roadblock?
8.8.2023
Russia’s biggest banking association has demanded clarification on Moscow’s CBDC plans, and says citizens are “wary” of the digital ruble.
Per Komersant and BFM, the Association of Russian Banks (ARB) sent a letter to the Central Bank with “a request to clarify certain issues pertaining to...