According to sources cited by Kommersant, Chinese banks routinely let Russian yuan payments delay for several weeks before ultimately rejecting them, often without providing a reason.
Hungary's record loan came amid a record increase in its public debt to 140 billion euros ($152 billion), 73.5% of GDP, and a budget deficit of 6.7% of GDP, while the country has no access to European Union funds due to the conflict with Brussels.
Russian media reported on July 24 that several top banks, including Raiffeisen, Gazprombank, VTB, and Alfabank, were experiencing outages. Social networks, payment systems on public transport, and some airlines were also reportedly impacted.
Earlier in the day, Russian media reported on outages from several top banks, including Raiffeisen, Gazprombank, Rosselkhozbank, and Rosbank. The outages also reportedly impacted social networks, payment systems on public transport, and some airlines.
A global outage in IT systems affected Sense Bank, one of Ukraine's largest banks, and Vodafone Ukraine on the morning of July 19.
The suspects, with the help of an employee of the Regional Bureau of Forensic Medicine, stole payment cards and mobile phones registered in the online banking system from dead soldiers in a morgue.
Ukrainian billionaire Hennadii Boholiubov, who formerly owned Ukrainian bank PrivatBank alongside oligarch Ihor Kolomoisky, recently left Ukraine under forged documents, anonymous sources at the Prosecutor General's Office told the Ukrainska Pravda media outlet.
According to Kommersant's sources, Bank of China will refuse to accept payments from any sanctioned Russian bank starting on June 24.
After Vladimir Putin's visit to China, specially authorized smaller banks in border regions have enabled Russian entities to set up non-resident accounts with Chinese banks, Reuters wrote.
Ukraine's IT Army, a volunteer cyberwarfare group, said it had targeted Russian banks and Russia's Mir payment system on June 20, rendering a range of services "non-functional."
Mbank, Kompanion Bank, RKS Bank, Kyrgyz-Swiss Bank (KSB), Kyrgyzcommerzbank, and Keremet Bank have imposed various restrictions on transfers using Russian payment systems.
The U.S. State and Treasury departments issued what they called a "sweeping" set of sanctions against Russia and its financial backers on June 12, in the latest move to try and degrade Moscow's wartime economy. Western countries have imposed extensive economic restrictions against Moscow over its full-scale invasion of
Ukraine’s banks are flush with cash. An influx of foreign aid, high interest rates on government bonds, pay rises for soldiers, and central bank policies after the start of the full-scale invasion boosted the sector's profits to 40.5 billion hryvnia ($1 billion) in the first three months of
The NBU's international reserves have fluctuated significantly since the beginning of Russia's full-scale war, dropping as low as $22 billion in July 2022.
Laurent Dupuch has weathered not one but two storms over the past few years as CEO and country manager of one of Ukraine’s largest banks Ukrsibbank. He arrived in Ukraine after almost seven years as CEO of the bank’s Morocco operations at the beginning of March 2020, right
The court ruled that UniCredit could offer Russian sovereign bond holdings instead of assets to satisfy the seizure order.
In particular, the allies are considering steps against banks using SPFS, Russia's alternative to the SWIFT messaging system, to circumvent trade restrictions, the outlet said.
Austria's Raiffeisen Bank International (RBI) was warned by the U.S. Treasury that its access to the U.S. financial system could be curbed due to its continued presence in the Russian market, Reuters reported on May 15.
The Vienna-based bank group, the largest remaining Western bank in Russia, has been under increasing pressure since the start of Russia's all-out war to scale down its activities in the country.
Raiffeisen has been interested in buying a 1.5 billion euro ($1.6 billion) stake in the construction company Strabag, which is linked to Russian oligarch Oleg Deripaska.
The largest Western banks that continue to operate in Russia have paid 800 million euros ($857 million) in taxes to its budget in 2023, which is four times more than before Moscow's full-scale invasion of Ukraine, the Financial Times (FT) reported, citing its analysis.
Some Chinese banks Major Chinese are limiting payments for transactions with Russia due to concerns about U.S. sanctions, Reuters reported on April 29, citing unnamed trading and banking sources familiar with the matter.
Being majority-owned by the Russian state, dividends can be used to fund the full-scale invasion of Ukraine.
"Instead of repeated statements about intentions to reduce and sell their activities in Russia, the Raiffeisen Bank International is the Western lender with the largest operations in Russia."
Washington hopes they will allow Secretary of State Antony Blinken to arrive armed with diplomatic leverage on a visit to China this week, in a push to stop Beijing's commercial support of Russia's military production.
Editor’s Note: This is issue 128 of Ukrainian State-Owned Enterprises Weekly, covering events from April 13-19, 2024. The Kyiv Independent is reposting it with permission. Banks Oschadbank earns a record Hr 6 billion profit in 2023 (audited). On April 19, Oschadbank reported that its executive and supervisory boards approved
The news follows a similar warning received by Austria's Raiffeisen Bank International (RBI) on April 18 that the ECB was requesting an accelerated wind-down of its business in Russia.
Austria's Raiffeisen Bank International (RBI) said on April 18 that it expects a request by European regulators to accelerate the wind-down of business in Russia.
The data was another illustration of the increasing importance of the yuan in Russia's economy amid the growing de-coupling from Western financial systems.
Ost-West Handelsbank has been removed from the list, according to the information on the office's website. The names under which the bank used to operate earlier – VTB Bank Deutschland and VTB Bank Europe – were also struck down.
The move was likely spurred by the announcement of new U.S. sanctions against the Russian National Payment Card system (NSPK) in February 2024, which coincided with the second anniversary of the full-scale war and the death of Russian opposition leader Alexei Navalny at a penal colony in Russia.
Several Chinese banks have stopped accepting payments from Russia in Chinese yuan, fearing ramifications of U.S. sanctions, the Russian state-controlled outlet Izvestia reported on March 21, citing representatives of the Russian baking sector and business.
(Updated: )
