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☆ Russia has been using the Chinese yuan to get around sweeping Western sanctions — but this side door may be closing
▼ + stars: | 2023-06-20 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The bank made the move over fears of secondary sanctions from the West, per RBC. Russia has been using the Chinese yuan to get around Western sanctions. Russian clients can still make yuan transfers within the Bank of China network, Semyonov added to RBC. The Chinese yuan surpassed the US dollar as the most heavily traded currency in February and March, according to Bloomberg data. Semyonov told RBC that Russian yuan transfers to the US and EU make up just 3% of all transfers in the currency.

Persons: —, Russia's, Pavel Semyonov, Dmitry Lesnov, Semyonov, Finam Organizations: of, RBC, Service, The Bank of, European, Bank of China, EU, Novaya Gazeta, The, Swift, Bloomberg, Reuters Locations: of China, EU, Switzerland, Russia, The Bank of China, European Union, Modulbank, China, Novaya, Novaya Gazeta Europe, Ukraine

☆ Russia has lost so much money due to the Ukraine war that it's now trying to raise $4 billion by slapping a windfall tax on its oligarchs
▼ + stars: | 2023-06-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Russia will slap windfall taxes on large companies making over 1 billion rubles in profits since 2021. Russia approved a draft bill to slap up to a 10% one-off windfall tax on large Russian companies, according to a Tuesday announcement by the country's finance ministry. "They understand that they had huge windfall profits for 2021 and 2022, simply massive, bigger than the budget," Belousov said, per Interfax. This instance isn't the first time Russia's imposing windfall taxes to fund the war in Ukraine. Russia's energy revenues have also been majorly hit by sweeping restrictions against its exports, particularly after the European Union — a major customer of Russian energy — banned Russian crude oil starting December 5.

Persons: —, It's, Andrei Belousov, Belousov, Timur Nigmatullin Organizations: RBC TV, Service, RBC, Financial Times, Gazprom, European Union Locations: Russia, Ukraine

REUTERS/Maxim ShemetovSummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Feb 27 (Reuters) - Russian banks and politicians have played down the latest foreign sanctions on Russian lenders, promising speedy solutions to any problems with clients' foreign currency dealings. Those sanctioned last week have responded in a largely relaxed manner, with some saying disruption will be limited and others restricting foreign currency transactions or suspending euro trading on brokerage accounts. Russia's major banks have rallied after an initial hit from last year's Western sanctions and now jostle for business from the state, particularly a burgeoning defence budget, and big corporate accounts. Sanctions have mostly hurt Russians wanting to travel abroad or hold foreign currency. Alexander Shokhin, Russia's top business lobby chief, was more cautious, saying the situation could change rapidly, and that Russian banks needed to act pre-emptively.

☆ Russian c.bank sees record $74 bln deposit auction as budget deficit widens
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

The central bank set the auction limit at 5.95 trillion roubles. "Since December, we have observed a peak liquidity surplus in the system," said Denis Popov, chief macroeconomic analyst at Promsvyazbank. Russia's structural liquidity surplus has increased to 3.38 trillion roubles as of Feb. 7, from 0.57 trillion roubles at the start of the year. "In our view, the likelihood that they turn out higher than the 29 trillion roubles that is budgeted for is quite high." Extrapolating from current dynamics until the end of the year and assuming that non-oil and gas revenue targets are achievable, Belenkaya estimated that the budget deficit could reach 6.5 trillion roubles, well above the planned 2.9 trillion roubles.

☆ Rouble surges, stocks fall as Russia holds Ukraine referendums
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado RuvicSummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. Sept 23 (Reuters) - The Russian rouble surged to new multi-week highs on Friday while stocks fell in volatile trade as Moscow mobilises some 300,000 extra troops for the conflict in Ukraine. But Russian stocks were deep in the red as markets remain jittery over how Russia's mobilisation drive will affect the conflict. Russian shares have seen heightened volatility all week in response to the mobilisation order and as Moscow stages referendums in four regions of Ukraine on joining Russia. For Russian equities guide seeFor Russian treasury bonds seeRegister now for FREE unlimited access to Reuters.com RegisterReporting by Jake Cordell.

☆ Se va confrunta oare Rusia cu „sancțiuni infernale” sub Biden?
▼ + stars: | 2020-11-12 | by ( Doina Crainic | Octavian Racu | ) ro.sputnik.md time to read: +5 min

Puterea din Statele Unite se va schimba abia anul viitor, dar este deja clar: Joe Biden va fi mai dur cu Rusia decât predecesorul său. Cu toate acestea, primii care vor suferi din cauza acestui lucru vor fi investitorii americani - mari deținători de valori mobiliare. Însă este posibil ca toate acestea să rămână doar vorbe, dar de fapt noul președinte american va negocia cu Rusia și își va retrage obiecțiile față de proiect. După cum asigură fostul senator al statului american Virginia Richard Black, Biden va prefera să negocieze cu Moscova finalizarea construcției „fără mult zgomot”. În cele din urmă, Biden va continua să facă presiuni asupra OPEC.

Persons: Joe Biden, Natalia, Biden, Washingtonul, Alexei Navalnîi, Vitali Mankevici, american Virginia Richard Black, El, Donald Trump Organizations: Financial Times, Albă, Uniunii Industriale Ruso, Asiatice, Washington, Petrolul, Reuters, Sputnik Moldova Locations: Statele Unite, Rusia, Rusiei, Moscova, Washington, SUA, Nord, Europa, Ucraina, Europei, american, american Virginia, OPEC, Iranului, Venezuelei, Moldova

☆ Нагорный Карабах признал потерю города Шуши: «город полностью вышел из-под контроля»
▼ + stars: | 2020-11-09 | by ( ) nokta.md time to read: +1 min

«Сегодня, к сожалению, приходится признаваться в неудачах, которые все еще преследуют нас, и город Шуши полностью вышел из-под контроля», — написал Погосян. По его словам, азербайджанская армия находится уже у столицы НКР Степанакерта. Ранее президент Азербайджана Ильхам Алиев заявил о взятии города Шуши, который расположен в 11 километрах от Степанакерта. Страны неоднократно обвиняли друг друга в обстрелах и трижды договаривались о режиме прекращения огня. Шуша неоднократно подвергался обстрелам, как и Степанакерт.

Persons: Ваграм Погосян, Погосян, Ильхам Алиев, Арцрун Ованнисян, Шуша Organizations: Дождь, Минобороны Locations: нагорнокарабахская, Шуши, НКР, Степанакерта, Азербайджан, Степанакерт, Армения, Шуше

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