Russia Financial News
10.03 / 23:09
Government
regulation
lawmakers
Republican lawmakers introduce bill targeting China's CBDC on sanctions, privacy
Nine Republican senators have backed legislation aimed at directing policy at U.S. government agencies around concerns China’s digital yuan may be used to circumvent sanctions and compromise users' personal information.
10.03 / 23:02
Action
Economic Blacklist of Russia Marks New Blow for Globalization
WASHINGTON—The U.S.-led effort to expel Russia from international commerce marks another fracture in the free-trade vision that guided American policy for nearly 30 years, signaling a future where nations and companies shift away from trading with adversaries and focus more on like-minded partners.
10.03 / 22:17
10.03 / 22:17
Fitch
Moodys
Pimco faces potential losses over exposure to more than $1 billion in Russian debt
Pimco's billion-dollar exposure to Russian debt came under pressure as the country, which invaded its neighbor Ukraine causing international outrage, faces risk of a sovereign default.
10.03 / 21:45
Credit Suisse says it has $914m in Russia exposure
Credit Suisse said its net loan exposure to Russia of CHF848m ($914m) "is not significant", as large European lenders play down the impact of the country's invasion of Ukraine on their business.
10.03 / 19:29
Tether
Gold
Backed
Time
Gold-backed cryptos are shining in 2022, market cap hits $1B for the first time
The market capitalization of gold-backed crypto tokens increased by 60% in 2022 to surpass $1 billion for the first time in history, according to Arcane Research in its latest weekly report.
10.03 / 19:03
cryptocurrency
Adoption
goldman sachs
Goldman Sachs Leaves Russia, Reportedly Set to Increase Crypto Focus
Investment banking giant Goldman Sachs is reportedly stepping up its work on crypto by exploring whether it should offer over-the-counter (OTC) crypto options. The news came as the firm said it is leaving Russia, becoming the first major Wall Street bank to do so after the war in Ukraine started.
10.03 / 18:41
10.03 / 18:33
War in Ukraine Fans the Flames of Global Inflation
From the Russian Revolution to Vietnam, war has been a reliable precursor to inflation. History may be about to repeat as Russia’s invasion of Ukraine tilts the balance of global political and economic forces toward higher inflation.
10.03 / 18:29
markets
Bitcoin
Bitcoin Price
US CPI
inflation data
Bitcoin spoofs $40K breakout as US CPI inflation data conforms to 7.9% estimates
Bitcoin (BTC) turned back time to February on March 10 as the latest U.S. inflation data sparked a bout of volatility.
10.03 / 18:29
exit
Allen & Overy
Allen & Overy to close Moscow office as law firms rush for exit in Russia
Allen & Overy will close its Moscow office because of the Russian invasion of Ukraine, joining a flood of western law firms leaving the country.
10.03 / 17:21
Goldman Sachs set to shutter Russia business after Ukraine invasion
Goldman Sachs is set to pull the plug on its operations in Russia, the first major investment bank to exit the country in the wake of its invasion of Ukraine.
10.03 / 17:01
Citizens
exits
Rolet laments ‘tragic’ times as he exits Russian firm’s board
Former London Stock Exchange Group boss Xavier Rolet has formally resigned from his role as chairman of Russian fertiliser company PhosAgro.
10.03 / 16:59
economics
inflation
Central Bank
US Inflation for February Hits 7.9%, ECB Slows Asset Purchases
US inflation numbers hit 7.9% in February, up from 7.5% the month before, and in line with expectations. Bitcoin (BTC) immediately jumped higher on the news, before later reversing lower again.
10.03 / 16:15
CEO
Deloitte
Deloitte pulls out of Russia and Belarus over Ukraine war
Deloitte has said it is ditching its Russia and Belarus member firms, becoming the last of the Big Four audit firms to announce it is exiting Russia following Vladimir Putin’s invasion of Ukraine.
10.03 / 15:55
Government
Law
Russian Parliament working group: There should be 'mechanisms to control crypto transactions'
Amid the ongoing discussion between the Central Bank of Russia (CBR) and the nation’s Finance Ministry on the future of crypto, a State Duma (the lower chamber of Parliament) working group has voiced their support for regulating rather than banning digital assets.
10.03 / 14:23
COST
cryptocurrency
Digital
central bank digital currency
Can India Use Its CBDC To Offer Alternative To SWIFT Payment System Amid Russia-Ukraine Conflict?
Benefit of CBDC as an alternative to SWIFT system is that it will increase transaction speed
10.03 / 14:23
cryptocurrency
Bitcoin
Roman Abramovich: Chelsea owner latest Russian oligarch sanctioned by UK
Chelsea football club owner Roman Abramovich is the latest Russian oligarch to be added to the UK's sanctions list following the invasion of Ukraine.
10.03 / 14:15
NOT
Debevoise & Plimpton breaks silence over Ukraine as Lord Goldsmith’s firm elects not to criticise Russia
Former UK attorney general Lord Peter Goldsmith’s law firm, Debevoise & Plimpton, axed a number of Russian clients, but stopped short of criticising Vladimir Putin's government for its attack on Ukraine in its first statement since the invasion began on 24 February.
10.03 / 14:05
CEO
Former London Stock Exchange boss Xavier Rolet steps down from Russian board role as CEO sanctioned
Former London Stock Exchange Group boss Xavier Rolet is set to resign from his role as chairman of Russian fertilizer company PhosAgro as sanctions hit the firm's chief executive.
10.03 / 13:53
UK sanctions oligarchs including Roman Abramovich and Oleg Deripaska
Chelsea owner Roman Abramovich has had his assets frozen by the UK government, along with a curb on transactions with UK individuals, as part of broad measures following Russia’s invasion of Ukraine.
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