Russia forced its banks to fund the war—now the bill is coming due
First top-10 bank posts losses as bad debt breaches crisis threshold.
Browsing Tag
Russian banks
9 posts
Bloomberg: Russian banks fear systemic crisis within 12 months as Ukraine war debt mounts
Russian banks are sitting on trillions of rubles in bad debt as corporate and retail borrowers struggle with 20% interest rates, creating what banking officials privately describe as a dangerous situation that could trigger systemic crisis within a year.
RFU News: US delivered its harshest economic blow yet against Moscow after ceasefire rejection
Russian banks can no longer process international energy transactions, endangering the Kremlin's primary war funding mechanism. The expiration of a key exemption also triggers secondary sanctions risk for any nation trading with Moscow.
Media: Ukraine targets Russia’s Central Bank in major DDoS attack
Media security source claims that Ukrainian intelligence has initiated a week-long, large-scale DDoS attack on Russia’s Central Bank, significantly disrupting its operations and affecting Russian online financial services
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
EU adopts 9th package of economic & individual sanctions against Russia: about 200 entities sanctioned
On 16 December, the Council of the European Union adopted the ninth package of sanctions against the Russian Federation…
This Belgian firm saved Russian financial system from collapse (and keeps doing it now)
After Russia invaded Ukraine, the largest payment systems Visa and Mastercard left the market of the aggressor country,…
Top Moscow bank to stop servicing sanctioned Russian defense firms
Oleg Sysuyev, the deputy head of Alfa-Bank, Russia's seventh largest bank by net assets, says that his institution will…
Russia considering introducing Islamic banking to get around Western sanctions
Facing ever greater difficulty in raising money in the West because of sanctions and calls by its own…