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.
Russia and Iran have completed the pairing of their national payment systems, which will allow travelers from the two countries to use their domestic debit cards for purchases in either Iran or Russia. Both countries are currently suspended from the SWIFT international payments system, with the non-SWIFT pairing of Russia and Iran significant as it […]
The Russian Central Bank has announced that the value of Russia’s gold holdings has surpassed US$200 billion for the first time, while bullion’s share in the country’s international reserves increased to 32.9%. Russia increased the value of its gold holdings by almost 4% last month, breaking the record set in the previous September. In the […]
The Central Bank of Russia’s (CBR) forecast for Russian GDP growth during 2024 is 3.5% – 4%, however, the final estimate for economic growth this year could exceed 4%, according to Kirill Tremasov, an advisor to the CBR governor. Tremasov, speaking at the Russian Economic Forum in Chelyabinsk, stated that “In 2023, Russia’s GDP growth […]
Part Two – Sanctions, Tariffs, Security, Technology and Bilateral Trade Sanctions During Trump’s first Presidency (2017-2021) as Russian President Putin has wryly noted, Trump placed Russia under more sanctions than any previous President had. Although that record has now been overtaken by the now-outgoing President Joe Biden, Trump is fully aware of the benefits of […]
During this year, a long-awaited IPO boom has occurred in the Russian market. In less than a year, 14 new issuers placed their shares on the open market, and another began collecting applications — the best result since 2007. Driving this are institutional investors, but increasingly private investors are also now involved. For 2025, Russian […]
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The major Russian cargo carrier Globaltrans is to leave the London Stock Exchange (LSE) on November 22, and has already relisted in Astana, Kazakhstan. The company is one of Russia’s largest rail transport groups, and is focused exclusively on the freight logistics sector in Russia and the Commonwealth of Independent States (CIS), providing services for […]
The Basel-based Bank of International Settlements (BIS) is poised to drop cooperation with the mBridge financial settlements system, in a move that would delay the introduction of any alternative financial settlements system to SWIFT. mBridge has been developed by the Central banks in China, Thailand, Hong Kong, and the UAE, and has recently and successfully […]
The UAE investment company Fundament Capital Investment Management has purchased 6.86% of the shares in the Moscow Stock Exchange (MOEX), acquiring them from the American State Street Bank and Trust Company. MOEX said that Fundament Capital received 156,177,798 shares on September 30. The main shareholders of Moscow Exchange are now the Bank of Russia (11.7%), […]
The 2024 BRICS summit has concluded with a ‘Kazan Summit Declaration’, with 134 points covering 43 pages. The key topics include further development of the association, position on various global issues, sanctions, settlement of regional crises, including in Ukraine and the Middle East, in addition to a comprehensive reform of the United Nations (UN), including […]
Vladimir Putin has met with Recep Tayyip Erdogan, the President of Turkiye at the BRICS Summit in Kazan. This is what they had to say: Putin: “Once again, I would like to welcome everyone to Kazan and to repeat how much I appreciate it that you have accepted the invitation to attend the BRICS Plus/Outreach […]
Vladimir Putin has met with Xi Jinping, the Chinese President, at the BRICS Summit in Kazan. This is what they had to say: Putin: “Chinese comrades and friends, I extend a warm welcome to all of you here in Russia, particularly in the Republic of Tatarstan, in Kazan, the capital of the Republic. This region […]
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