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Russian Banks Eye CNY Solution as Central Bank Bars Forex Sales; New Sanctions Approved
9.3.2022
The Russian ruble has been thrown into disarray as the nation attempts to battle economic sanctions by effectively suspending the sale of most foreign currencies – while exploring the notion of allowing citizens to purchase China’s fiat yuan.
In a press release from the Central Bank, the...
Report: LBMA Asks 6 Russian Gold Refiners if They Have Ties to Sanctioned Entities
7.3.2022
The London Bullion Market Association (LBMA) said it wants six accredited Russian gold refiners to clarify if they have commercial ties with sanctioned Russian entities. The association’s request comes a few days after it revoked the membership of three sanctioned Russian banks. LBMA...
Russian Banks Look to China’s UnionPay after Visa, Mastercard Freezout
7.3.2022
The American payments heavyweights Visa and Mastercard, as well as the card issuer American Express, have suspended their operations in Russia – joining an increasingly lengthy list of firms severing their trade links with the country. But Russian banks have indicated that they may look...
Binance Puts Restrictions on Cards From Russian Banks
4.3.2022
The stance taken by crypto projects earned greater importance in the war between Russia and Ukraine. Ever since the war was declared, the mobility of cryptocurrencies increased by a greater degree in the two countries currently engaged in the fight. The reports have shown that Bitcoin’s...
EU will cut off 7 Russian banks from SWIFT, with ordinary Russians facing consequences
2.3.2022
Inflation in the eurozone soared to 5.8% in February, well above the European Central Bank’s 2% target, amid a backdrop of escalating sanctions against Russia
EU Excludes 7 Russian Banks from SWIFT
2.3.2022
The European Commission is also studying whether crypto is being used to circumnavigate Russian sanctions
Venezuela Might Be Affected by Russian Banks’ SWIFT Suspension
2.3.2022
Analysts from Venezuela have expressed their worries about the expulsion of a number of Russian banks from SWIFT, an international messaging system that allows the interconnection of banks. These measures could affect the finances not only of Venezuela, but also of other countries in the region...
Russian Banks Raise Key Rates to 20% in Desperate Measure to Save Ruble
28.2.2022
The country faces sanctions from the West as the war against Ukraine transcends into economic and financial cripples
Ukraine Targets Russian Politicians’ Crypto Wallets as Russian Banks Are Cut From SWIFT
28.2.2022
Ukraine is now trying to expose cryptocurrency wallets used by politicians in Moscow amid warnings that Russia may employ digital coins to circumvent sanctions. The initiative comes as western allies agree to expel some Russian banks from SWIFT, the global interbank payments system. Government...
EU Commission to remove Russian banks from SWIFT cross-border network
27.2.2022
While condemning the Russian president Vladimir Putin’s move to lay siege across Ukraine, the EU Commission committed to undertake a series of measures to isolate Russia from the international financial system
EU 'Commits' to Cutting Russian Banks Off From SWIFT Over Ukraine Invasion
26.2.2022
Apple Pay and Google Pay to Become Unusable with Cards from Sanctioned Russian Banks
25.2.2022
Customers of five sanctioned Russian banks will be unable to use their cards to pay with Apple Pay and Google Pay, the central Bank of Russia, said.
The banks in question include banks under the VTB Group, Sovcombank, Novikombank, Promsvyazbank, and Otkritie, per the announcement. The banks...
Apple Pay to halt support for Russian banks sanctioned on war in Ukraine
25.2.2022
Russians cashed out over $1.3 billion from banks on the first day of Russia’s invasion of Ukraine, the largest amount since the onset of COVID-19
Crypto could bypass President Biden's 'devastating' sanctions on Russian banks and elites: Report
24.2.2022
“If a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin," said Mati Greenspan
Crypto Exchange Binance Joins Expert Center at Russian Banks Association
19.2.2022
Digital asset exchange Binance has become the first crypto company to support the Association of Banks of Russia in efforts devoted to regulating the country’s growing cryptocurrency market. The coin trading platform will also work with authorities in Moscow as they try to adopt rules...
Russian Banks Begin Testing Digital Ruble Payments
22.1.2022
Banks in Russia are preparing to dive into the pilot phase of the digital ruble project and some are already testing transactions with the currency. Trials have started with customer-to-customer (C2C) payments and Bank of Russia plans to expand the types of operations in the future. Digital Ruble...
Bank of Russia to Monitor Banks’ Dealings With Crypto Exchangers
21.1.2022
The Central Bank of Russia has started to examine the operations of Russian banks with cryptocurrency exchangers, according to local media. Transactions between individuals through these platforms are of particular interest as the regulator believes these carry risks of financial losses and fraud....
CEOs of top Russian banks Sberbank and VTB blast Bitcoin
4.6.2021
Top Russian bankers cite their reasons for not liking Bitcoin after Tinkoff's CEO said that the central bank was stopping it from offering crypto trading services
Moscow Stock Exchange, Russian Banks Co-Found Blockchain Operator
13.4.2021
Source: Adobe/Dmitri Kalvān
Russia is edging ever closer to realizing its dream of breaking through the barriers of international trade-limiting EU and American sanctions by developing new payments system infrastructure – with the aid of blockchain technology.
Per RBC, the Moscow Stock Exchange...
Digital ruble could be still vulnerable to fraud, Russian banks warn
13.1.2021
The Association of Russian Banks is worried about regulators being unable to track illicit transactions of an offline-enabled digital ruble