Finance

Using The Interest On Russian Assets For Ukraine: The Details and Implications

Economy, Finance

The European Union has approved the use of Russian financial assets, currently frozen in the Belgian Euroclear account, to be sent to the “European Peace Fund” (EPF) – a body established in the EU to send funds for munitions to Ukraine. In this article we examine the agreement and the implications. Deal Structure The Russian […]

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Russia To Invite BRICS Countries To Form An Independent Financial System

BRICS, Economy, Finance

The Russian Ministry of Finance, together with the Central Bank and BRICS partners, will prepare a number of initiatives to create an independent international monetary and financial system. The result of this work may be, among other things, the creation of a digital settlement and payment platform “BRICS Bridge”. This was decided following a meeting

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Why Europe Isn’t Keen On Sending Money Derived From Frozen Russian Assets To Ukraine

Economy, Finance

An on-going debate has been raging in the West about using frozen Russian capital – about US$282 billion, mostly belonging to the Bank of Russia – to generate funds to give to Ukraine. Of this money, about US$6 billion is held in the United States, with the vast majority being held in Europe. Opinions on

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Half of Russia-China Financial Transactions Arranged By Third Party Brokers

China, Finance, Trade

An estimated 50% of all financial transactions conducted between Russia and China are facilitated by means of intermediaries to avoid exposure by Chinese lenders to the risk of secondary sanctions, Reuters have reported, citing trade consultants and bankers, as well as importers and exporters. In December, US President Joe Biden signed an executive order that

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India Considering Use Of Russian-owned Rupees To Enable Exports to Third Countries.

BRICS, Finance, Trade

Russia’s Pivot to Asia has been discussing the use of different currencies in different ways since the United States threatened Chinese banks with sanctions. In addition to that issue, Russia also has problems balancing trade with India, which has skyrocketed with Delhi’s increasing purchases of Russia energy. However, bilateral trade isn’t that mature yet and

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US$61 Billion for Ukraine and the REPO Act – The Implications

Economy, Finance

The United States House of Representatives cleared two important pieces of legislation over this weekend, both of which will affect Russia. Firstly, approval was given to extend an additional US$61 billion in loans to Ukraine, while the “Rebuilding Economic Prosperity and Opportunity for Ukrainians (REPO) Act approves the diverting of profits from Russian government capital

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