Russia’s financial sector is changing as new infrastructure and development projects materialise, overseas funding is provided to friendly nations, and the landscape changes as regards use of currencies into addition to shifts in the way in which capital is used, from QR codes to Crypto all driving new regulatory and Central Bank guidelines. Navigate Russia’s financial landscape. Get analysis on the banking sector, investment mechanisms, currency exchange, and capital markets for businesses operating and investing in Russia.
ALROSA, which produces about 90% of diamonds in Russia, increased sales of investment-grade diamonds by a multiple of three times in 2024, to more than 1,000 units, the company has said. The investment category includes diamonds from 2 carats with certain colour and purity characteristics. Their price point starts from ₽2 million (over US$20,000) per […]
Russian President Vladimir Putin has been discussing and analysing Russia’s economic position during 2024 with Prime Minister Mikhail Mishustin to see areas that worked and where attention to change needs to be directed. Mishustin was presenting the results of Russia’s economic performance for last year. The results are generally positive but there are some critical […]
Russia’s VTB bank plans to expand its services geography in providing international transfers in national currencies during 2025 by adding new countries in Africa, Latin America and Southeast Asia, the Russian state bank’s deputy CEO, Georgy Gorshkov has stated. VTB’s retail customers made 2.1 million transfers in the currencies of friendly countries in 2024, six […]
2024 was a banner year for Russia’s collective investment markets, which expanded with a record number of mutual funds and the largest number of new management companies for over a decade. Wealthy investors – including foreign investors – are primarily interested in Russian industry. Since sanctions were imposed in 2022, Russian investors have been limited […]
Russia’s digital financial assets market grew more than 4 times in 2024, according to the Russian ACRA credit rating agency. Although still developing and partially hampered by sanctions, the overall trend is positive, with holdings up to ₽150 billion by the end of last year. According to ACRA’s estimates, digital financial instruments in Russia have […]
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India has permitted the Russian insurer Soglasie Insurance Company to provide marine cover to tankers entering Indian ports, according to the Indian ship regulator’s website, as New Delhi desires a reliable and steady supply of Russian oil in spite of the latest escalation of U.S. sanctions. Taking matters a step further, India has extended the […]
Russia’ Fast Payment System (SBP), in which banks will accept money transfers by phone number is rapidly developing and has now expanded to include nine countries: Abkhazia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Laos, Moldova, Tajikistan and Uzbekistan. The number of foreign banks accepting money through the SBP by phone number is also growing, with 50 now […]
Russia and the United Arab Emirates have concluded the final round of negotiations on and initialled the draft of a new Double Taxation Agreement (DTA) on income and capital and to help prevent tax evasion. DTA provisions typically protect tax payers from being taxed twice for the same income, such as a Russian national working […]
Mongolia’s 2025 budget has run out of money to repair access roads to its largest border crossing with Russia. Eight road projects, including the repair of the highway from the largest automobile border crossing at Altanbulag on the border with Russia, were excluded from Mongolia’s budget for 2025. Altanbulag is the largest automobile checkpoint on […]
Russia’s VTB bank plans to open a full-fledged subsidiary bank in Iran by the end of 2025, the bank’s President and Board Chairman Andrei Kostin has stated. VTB opened a representative office in Iran in 2023. Kostin said that “We plan to open a full-service bank by the end of this year. VTB will be […]
The Russian Foreign Minister, Sergey Lavrov, gave an extensive media interview and Q&A session on Tuesday (January 14), at which many questions were asked. The full transcript, including comments about the United States, Ukraine, sanctions and so on, can be read here. In this article, we highlight the comments he made pertinent to our specific […]
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