Russia Financial News

Magic Circle law firm Freshfields Bruckhaus Deringer has dropped VTB Bank as a client following an outcry over its continued work for the lender.

The Biden administration is seeking to ease oil sanctions on Venezuela as part of a broader U.S. strategy to temper oil prices that have skyrocketed because of Russia’s war in Ukraine, according to people familiar with the matter.

A Russian gymnast has been slammed after displaying a symbol of support for Moscow's invasion of Ukraine.

Gun buyers have been flocking to Lithuania's stores since the start of the war in Ukraine, with sales increasing up to eight times and applications for gun licences doubling.

Bitcoin extended its losses on 4 March, falling below $40,000 with investors concerned about the worsening war between Russia and Ukraine, after Russian troops seized Ukraine's largest nuclear power plant.

Ever since the conflict began, there has been a bank run that happened on both sides of the border. A bank run is an event where a large group of depositors wants to withdraw their money from the bank. The Russian central bank even raised its interest rates up to a staggering 20% to stabilise the freefall of the value of the rouble. In these uncertain times, money tends to flow towards safe havens like gold. However, Bitcoin is looking better. As it is difficult to carry gold around and the value of the fiat currency is free falling, it is far easier to remember the private keys to your crypto. Testimonials are coming from Ukrainian refugees who have some financial stability solely because they brought along cryptocurrency with them. Ukraine Vice President also tweeted about accepting international support via cryptocurrencies and there the crypto community has donated more than $70 million.

Bitcoin (BTC) starts a new week in the shadow of a deepening geopolitical nightmare unfolding around Russia.

The United States-based crypto exchange Coinbase has proposed the use of cryptocurrencies to help ensure compliance with economic sanctions. The recommendation comes along with highlighting the ease of laundering and sanction evasion of fiat currencies made possible by traditional financial infrastructures. 

Companies including banks, law firms and management consultancies are facing mounting calls to ditch their profit goals and get out of Russia.

It is impossible to predict how the horror of Russia’s invasion of Ukraine will develop from hour to hour. So it is folly to think that we can yet evaluate all the implications for the longer term. But one thing is already clear — companies and financial investors should reassess the risk of investing in some emerging markets.

PwC and KPMG are both exiting Russia following Vladimir Putin’s invasion of Ukraine, the Big Four audit firms said in statements on 6 March.

Ukrainian President Volodymyr Zelenskyy said late on Sunday that Ukraine will not forgive Russia for all the victims and suffering the war it started had caused.

Economist Stephen Roach warned effects from any default on Russia's sovereign debt as a result of the Ukraine crisis would spill over to emerging markets, including China.

Russia’s invasion of Ukraine has set the stage for faster-rising consumer prices, with the mayhem of war driving up manufacturing costs for food, consumer goods and machinery in places far from the battlefield.

U.S. equity futures fell Sunday evening as U.S. oil price jumped to their highest level since 2008 amid the ongoing war between Russia and Ukraine.

A second attempt to evacuate civilians from a southern Ukrainian port city where supplies are running short was stopped due to a Russian assault, a Ukrainian official said.

Professional services firm Accenture is closing its Russia business in the wake of Vladimir Putin’s invasion of Ukraine.

U.S. inflation data highlights this week’s docket of regularly scheduled economic releases. Official reports won’t yet fully capture growing economic fallout from Russia’s invasion of Ukraine, which has pushed up prices for energy and other commodities, and threatened a broader supply shock.

As war rages in Ukraine, US Secretary of State Antony Blinken pledged America’s support for Moldova as the small European state deals with an influx of refugees.

The train station in the Ukrainian city of Lviv has become a focal point for the flow of refugees escaping the fighting.

Gasoline prices surged to the highest level since 2008 on Sunday, as crude oil supply fears stemming from Russia's war on Ukraine increase the impact on consumers at the pump.