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.
Alfa Bank, Russia’s largest private lender, has applied to the Chinese authorities to open offices in Beijing and Shanghai. The bank is aiming to become the first private Russian bank to open fully-fledged branches in China, and comes after it recently expanded its client support services for Chinese businesses. Alfa Bank said it is already […]
The Financial Times has published an article describing a key meeting between the Ukrainian Finance Ministry and Officials attending the Peace Conference held over the weekend in Lucerne, Switzerland. The newspaper reported that Ukraine had asked for its official bondholders to take a 60% haircut on foreign exchange bonds due in August of US$20 billion. […]
In response to Wednesday’s (June 12) US sanctions concerning the provision of services to Russia for trading US dollars or Euros, the Bank of Russia has stated that the Chinese RMB Yuan / Russian Ruble exchange rate will now be the baseline from which other currency pairs, including for the euro and the dollar, will […]
Sergey Ryabkov, Russia’s Deputy Foreign Minister has said that Iran would benefit if it joined New Development Bank established by the BRICS countries. Speaking at the BRICS foreign ministers meeting in Nizhny Novgorod, he said that “In order for Iran’s entry into BRICS to face the least difficulties, it is necessary to take a number […]
The Bank of Russia has announced it is suspending trade in the Hong Kong dollar with immediate effect from Thursday, June 13, with the move meaning that settlements on the Moscow Exchange (MOEX) will be suspended. The suspension has come after the United States issued a further round of sanctions on Russia meaning that third-country […]
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As we reported last week, Russian President Vladimir Putin has held meetings with Dilma Rousseff, the Head of the BRICS New Development Bank (NDB). A new priority for the NDB, as directed by its shareholders, is the development of a new digital currency to facilitate direct trade between members and bypass sanctions imposed on Russia […]
The St.Petersburg International Economic Forum (SPIEF) 2024 has now finished, attracting guests from 139 countries. Investment deals worth US$71 billion were signed, as Russian companies look to invest in alternative markets as its economy moves away from Europe. In this article we highlight some of the larger investment deals that Russian investors made to instigate […]
The St. Petersburg International Commodity and Raw Materials Exchange (SPIMEX) will create a new, common EAEU commodity exchange market and then intends to integrate this to include commodities trading within the BRICS, according to SPIMEX President Igor Artemyev, speaking on the sidelines of the St. Petersburg International Economic Forum (SPIEF). Artemyev stated that “A large […]
Russian President Vladimir Putin is set to hold discussions with Dilma Rousseff, the President of the New Development Bank (NDB) at the Konstantinovsky Palace in St. Petersburg on Thursday (June 6). The NDB is the multi-lateral financing vehicle for the BRICS group. While Russia is a major shareholder, it has not been able to participate […]
The Russian President, Vladimir Putin, visited Beijing and Harbin, China last week to meet Chinese President Xi Jinping and discuss multiple issues concerning trade and mutual development. In Harbin, Putin attended the China-Russia Expo. In this article, we summarise the meetings, and discuss the numerous announced deals and developments. Overall Impact The overall impact […]
Russians made 5.3 million trips abroad in Q1 2024, which is an 8.8% increase from Q1 2023, according to the statistics of the Russian Federal Security Service’s Border Guard Service. Russians made 5,329,249 trips abroad for all purposes in the first quarter. Russian tourist tastes have changed as well, with European countries making it difficult […]
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