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Search resuls for: "MTS Bank"


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☆ Western officials arrive in the UAE amid push to deprive Russia of advanced microchips
  + stars: | 2023-09-06 | by ( Mostafa Salem | ) edition.cnn.com   time to read: +5 min
The UAE has invested large sums in developing an artificial intelligence program and has a ministry dedicated to the technology. UAE ‘abides by UN sanctions’Russia is under a barrage of sanctions from the US and other Western nations following its full-scale invasion of Ukraine last year. Western officials have visited the UAE several times over the past two years to warn the regional business hub that helping Moscow evade sanctions wouldn’t be without consequences. The UAE central bank in March cancelled a license granted to Russia’s MTS Bank after it came under US and British sanctions. We look at BRICS from a geo-economic not a geo-political perspective, with the aim of strengthening our economic competitiveness,” a senior UAE official told CNN.
Persons: ”, AMD, “, Abu Organizations: Abu Dhabi CNN — Senior, United, European Union, CNN, Street, UAE, Nvidia, Reuters, AMD, US Department of Commerce, Financial Times, UAE’s Technology Innovation Institute, UN, US, “, MTS Bank, Moscow, BRICS, UAE hasn’t, New Development Bank Locations: Abu Dhabi, United Arab Emirates, Russia, Ukraine, United States, United Kingdom, Gulf, “, UAE, East, Saudi Arabia, Moscow, Iran, Washington, multipolarity, China, South Africa, BRICS
☆ Russia's top spy agency is worried that domestic banks don't have enough foreign currency, report says
  + stars: | 2023-04-27 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +2 min
Russia's top spy agency is worried that domestic banks don't have enough foreign currency. Russia's FSB also urged that any business deals with Chinese firms be kept secret. The Federal Security Service, or FSB, is worried that domestic banks don't have enough foreign currency, the leaked intel assessment said. After Vladimir Putin launched his war on Ukraine last year, Western sanctions froze Russia's foreign-currency reserves. The leaked documents also said that US intelligence officials believe Russia can continuing paying for its war on Ukraine for at least another year.
☆ UAE cancels licence for Russia's sanctioned MTS bank
  + stars: | 2023-03-31 | by ( ) www.reuters.com   time to read: +2 min
DUBAI, March 31 (Reuters) - The United Arab Emirates' central bank on Friday said it will cancel the licence it granted last year to Russia's MTS bank, which was placed under British and U.S. sanctions in February. Operations at the bank's UAE branch, which is licensed in the emirate of Abu Dhabi, will be wound down within six months under central bank supervision. "This decision comes after considering the available options regarding the new status of the MTS Bank and taking into account the sanctions risks associated with the bank," the UAE central bank's statement said. U.S. officials have visited the UAE to discuss with regulators including the central bank the importance of clamping down on sanctions evasion. MTS Bank, a fintech unit of Russia's largest mobile operator Mobile TeleSystems (MTSS.MM), was part of a broader sanctions package against 200 entities and individuals announced in February on the first anniversary of Russia's invasion of Ukraine.
☆ UAE cbank studying options after UAE licensed Russian bank sanctioned
  + stars: | 2023-02-24 | by ( ) www.reuters.com   time to read: 1 min
DUBAI, Feb 24 (Reuters) - The central bank of the United Arab Emirates is studying available options regarding the new status of Russia's MTS bank which it licensed to operate in the Gulf country last year, a state news agency WAM said on Friday. The Russian lender was part of a new sanctions package announced on Friday. "The Central Bank is studying now the available options regarding the new status of the bank and the appropriate decision will be taken in due course, considering the obligations incurred by the branch during the previous period," the statement said. Reporting by Rachna Uppal, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
☆ U.S. Treasury sanctions Russian mining sector, goes after sanctions evasion
  + stars: | 2023-02-24 | by ( Jonathan Landay Andrea Shalal | Jonathan Landay | Andrea Shalal | ) www.reuters.com   time to read: +4 min
METALS AND MININGIn a significant widening of its Russia-related sanctions, Treasury announced a new determination by the Office of Foreign Assets Control (OFAC) that allows sanctions on any individual or entity operating in Russia's metals and mining sector. On Friday, it hit four mining and metals sector companies, including TPZ-Rondol, a unit of Russia's largest ammunition maker, for producing weapons for the Russian military, including the navy, the Treasury said. Among other entities hit on Friday were more than a dozen Russian banks. Another bank hit was MTS Bank, which is located in Moscow and Abu Dhabi, United Arab Emirates. Brian Nelson, Treasury's top sanctions official raised concerns about UAE's decision to license the Russian bank during a visit to the country the week of Jan. 30.
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