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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 sanctions in a bid to overturn one of the hardest... read more
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Russian bank closures disrupt European banking operations
Russia’s attack on Ukraine and the resulting economic sanctions have already impacted European banking in several ways, many of which are indirect. One potential impact is in the form of... read more
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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 and threatens to further isolate a Russian economy facing crippling... read more
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Sberbank pulls out of Europe as Austrian entity fails
Sberbank has announced it has been forced to pull out of the European market, after it said it faced large outflows of cash in the region as well as threats... read more
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EU pulls trigger on Russia Swift ban – but will it be effective?
The European Union has announced it will exclude seven Russian banks from the Swift messaging system but stopped short of including those handling energy payments. However, there are those questioning... read more
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