Raiffeisen to take a financial hit following Russian court’s €2 billion ruling
The bank continues to operate in Russia, claiming it is unable to sell and transfer its assets.
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banks
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Foreign banks in Russia increased their profits by nearly third from January to September
Foreign banks in Russia have increased their profits by 30% in the first nine months of the year.
Reuters: Swiss bank UBS faces US sanctions inquiry over Russian clients
US sanctions agency OFAC is investigating Russian accounts UBS inherited from Credit Suisse, with UBS isolating suspect funds to avoid penalties.
Raiffeisenbank seeks compensation before Russian market exit
Austrian banking group RBI insists on compensation for its Russian business exit while facing mounting pressure from European regulators.
Ukrainian digital bank fights off massive DDoS attack for third day
Monobank co-founder Oleh Horokhovskyi said an ongoing DDoS attack of unprecedented scale, with over 5.5 billion requests received so far.
G7 to caution small Chinese banks over Russia ties, Reuters says
G7 leaders to warn Chinese banks to stop assisting Russia in evading Western sanctions during an upcoming summit, according to Reuters' sources.
US authorizes Russian bank transactions for energy payments amid sanctions
The US Treasury has temporarily authorized transactions with several major Russian banks for energy-related payments, according to a recent license by the US Treasury
FT: Western banks handed €800mn to Kremlin in taxes in 2023 despite promises to exit
Top European banks in Russia paid the Kremlin more than €800mn in taxes last year, four times more than before the all-out war, FT finds.
G7 ministers fail to agree on Russian asset use for Ukraine aid
Lagarde said it was not possible to transition from freezing assets to potentially confiscating and reallocating them, a process she described as fraught with legal peril.
Samsung Pay to drop Russian Mir payment card in April
Joining Apple and Google, Samsung will sever support for Russia's Mir payment system, disabling the use of those cards in its Samsung Pay wallet starting April 3.
US imposes new sweeping Russia sanctions over war in Ukraine
The US initiates comprehensive sanctions against Russia, with the new package centering on energy, drones, and entities in response to the Russo-Ukrainian war. Hundreds are impacted, as per Reuters.
Ukraine’s anti-corruption agency recognizes Austrian Raiffeisen Bank as sponsor of Russia’s war
Ukraine’s National Agency for Prevention of Corruption (NAPC) declares Austrian Raiffeisen Bank International to be a sponsor of…
Iran, Russia merge banking systems, launch own payment system after SWIFT ban
Russia and Iran are merging their banking systems to get around being banned from SWIFT, the critical communication…