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Russia and Iran consider stablecoin for cross-border trade settlement
Local Russian news outlets are reporting that Russia and Iran are considering a stablecoin collaboration to skirt financial and economic...
Citibank forced to shutter Russian operations after no buyer found
Citibank has been forced to shut down its consumer and local commercial banking operations in Russia after it proved impossible...
Russian Central Bank want to eradicate “toxic” foreign currencies from system
The Central Bank of the Russian Federation wants the government to order state companies to convert their foreign-exchange holdings into...
Russia set to challenge legality of frozen central bank assets
Russia has said it will take legal steps to recover $300 billion of its foreign currency reserves frozen by international...
Deutsche Bank, BNP Baribas and Crédit Agricole shut down in Russia
Deutsche Bank was the first to go of the big European banks, officially announcing it will shut down business in...
Dangerous tides from Russian sanctions pull on Eurozone bank recovery
One of Italy’s major banks, UniCredit, has issued a stark warning that it may have to face losses of about...
Visa, Mastercard and American Express stop Russian operations
Visa, Mastercard and American Express have suspended operations in Russia. The decision followed a request by Ukraine’s President Volodymyr Zelensky...
VTB Bank withdraws from Europe as sanction hit
Just days after Sberbank announced its collapse in Austria and subsequent withdrawal from the European banking sector, VTB Bank has...