Russia’s vital financial institution cut its key interest price Thursday following an emergency meeting, as the government is looking to rein in the ruble which has surged in cost despite the war in Ukraine. The Bank of Russia slashed the rate to eleven percent from 14 percent, pronouncing external situations for the financial system to … Read more
According to a top European Union official, the bloc’s 27 member states have reported freezing around 23 billion euros in Russian Central Bank assets, indicating a total that was supposed to be significantly higher. Russia has openly stated that Western sanctions have resulted in the global freezing of around $300 billion in central bank assets. … Read more
Russia’s central bank announced on Friday that it was lowering its benchmark interest rate for the second time in a row, citing a reduction in the risks of price surges and financial instability. The Bank of Russia said it would drop the rate from 17 percent to 14 percent starting next week, a bigger cut … Read more
President Volodymyr Zelensky’s top economic adviser has condemned European countries still buying Russian gas and oil, accusing them of aiding war crimes. In an exclusive interview with the Observer, Oleg Ustenko slammed the lack of an immediate western embargo on Russian imports. “Whoever supplies Russia with this bloody money is committing the same war crime,” … Read more
SEOUL: South Korea said on Monday it will halt all transactions with the Russia’s central bank in the latest series of punitive actions against Moscow over its invasion of Ukraine. The foreign ministry said in a statement it had decided to ban all financial dealings with the Central Bank of Russia “considering the international community’s … Read more
MOSCOW: The rouble collapsed against the dollar and the euro on the Moscow Stock Exchange on Monday, as the West punished Moscow with new sanctions over the Kremlin’s invasion of Ukraine. The rouble fell sharply at the start of trading, reaching 100.96 to the dollar, compared to 83.5 on Wednesday, the day before the invasion … Read more
The Russian central bank has suggested domestic commercial banks that they should block their clients’ crypto exchange-related card and e-pay transactions. The Bank of Russia spoke of the requirement to mold out internet-based “shadow economy”-related businesses. It named on domestic banks and e-pay operators to recognize all accounts and e-wallets belonging to “illegal business activities” … Read more
