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[1/2] People stand in line to use an ATM money machine in Saint Petersburg, Russia February 27, 2022. For the majority, who bank in roubles with huge retail lenders, such as Sberbank (SBER.MM), the answer is: not much. "Nothing has changed for me at all," said Vyacheslav Fatikhovich, a taxi driver in the Urals city of Yekaterinburg. "The only thing is that customers are paying less by card and more often in cash," he said. "I quickly opened three UnionPay cards at different Russian banks," Andrey, who now works outside Russia, said.

☆ Analysis: Washington pushes for harsher action against banks with Russia ties
▼ + stars: | 2023-02-14 | by ( John O'Donnell | ) www.reuters.com time to read: +6 min

"We are looking at additional banks and financial institutions to see how Russia deals with the outside world. Some European banks, including UniCredit (CRDI.MI) and Raiffeisen Bank International (RBIV.VI), have large businesses there and must follow local rules to grant payment holidays to soldiers. ENFORCEMENTO'Brien said that the United States would step up enforcement, something the EU also hopes to improve. "We are now looking at how sanctions, including financial sanctions, can be most effective," he said. "While the majority of important Russian banks are sanctioned, there is a lot outside that perimeter that you could go after," said Nicolas Veron, of Washington think tank the Peterson Institute for International Economics.

☆ Russia expects Sberbank to pay dividends on 2022 profits, says TASS
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows the logo of Sber (Sberbank) at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. REUTERS/Anton Vaganov/MOSCOW, Feb 9 (Reuters) - Russia's finance ministry said on Thursday it expects state-owned lender Sberbank (SBER.MM) to pay dividends of at least 50% on its 2022 profits, a prospect that drove up Sberbank shares and the wider Moscow Exchange stock index. We will discuss this further," the TASS news agency quoted Deputy Finance Minister Vladimir Kolychev as saying. Sberbank, in common with other major Russian companies, did not pay a 2021 dividend last year on the government's orders. The rouble-based MOEX index (.IMOEX) pared losses to climb 0.6% higher on the day, while Sberbank shares did the same, gaining around 1.6% by 1333 GMT and nearing a multi-month high.

The West blocked several major Russian banks' access to the international SWIFT payments system soon after Moscow sent tens of thousands of troops into Ukraine on Feb. 24 last year, with dominant lenders Sberbank (SBER.MM) and VTB (VTBR.MM) - Russia's No. 2 bank - forced to shutter operations across much of Europe. Kostin, in an interview with state television channel Rossiya 24, said the bank had managed to grow its retail and corporate loan portfolios, but that sanctions accounted for all the lender's losses. VTB was forced to buy FX on the open market when the rouble had weakened sharply to more than 100 against the dollar, Kostin said. VTB was profitable in January and hopes to post profits in 2023 with a similar number of zeroes as the 320-billion-rouble figure achieved in 2021, Kostin said.

☆ Russia's Sberbank to launch DeFi platform in coming months - Interfax
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +1 min

Feb 3 (Reuters) - Russia's largest lender Sberbank (SBER.MM) plans to launch a decentralised finance (DeFi) platform within the next few months, the Interfax news agency reported. Sberbank says it wants to make the Russian decentralised finance system the best in the world, and is currently beta testing its own platform. Traditional financial institutions are looking at how to get into the space and integrate DeFi technology with their existing regulated operations. Sberbank will launch open testing in March of its platform and aims to start commercial operations by the end of April, the Interfax news agency quoted Konstantin Klimenko, head of products at Sberbank's blockchain laboratory, as saying. Sberbank's DeFi platform will be based on the Ethereum blockchain, the second-largest crypto currency by market capitalisation after bitcoin, Klimenko said on Friday.

☆ Most Gulf markets rise as China eases COVID curbs
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

China will stop requiring inbound travellers to go into quarantine starting from Jan. 8, the National Health Commission said on Monday. It will also downgrade the seriousness of COVID as it has become less virulent and will gradually evolve into a common respiratory infection. The announcement buoyed other Asian markets as well, with the MSCI Asia ex-Japan index (.MIAPJ0000PUS) rising 0.53%. Saudi Arabia's benchmark index (.TASI) gained 0.6%, led by a 1.4% rise in Al Rajhi Bank (1120.SE) and a 1.1% gain in oil giant Saudi Aramco (2222.SE). Dubai's main share index (.DFMGI) added 0.1%, helped by a 0.4% rise in top lender Emirates NBD (ENBD.DU).

☆ Sanctions forcing Russia's Sberbank to close UAE office, company says
▼ + stars: | 2022-12-26 | by ( Alexander Marrow | ) www.reuters.com time to read: +2 min

Sweeping Western sanctions targeted Russia's financial system after Moscow sent tens of thousands of troops into Ukraine on Feb. 24. Sberbank is one of several major Russian banks to have been blocked from the international SWIFT payments system and some senior executives have been personally hit by sanctions. "Unfortunately, in the context of sanctions restrictions, we are facing serious constraints on our SberInvest Middle East office in Abu Dhabi and we, unfortunately, are forced to close it in the first quarter of 2023," Vedyakhin told reporters. He said Sberbank would continue serving clients in the UAE market and that active communications were underway with Chinese regulators about opening an office there. Vedyakhin declined to give full-year forecasts but said Sberbank was confident of being profitable in December.

☆ Russia's Sberbank urges Glencore to resolve dispute over oil bill
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +1 min

Sberbank has taken legal action to recover debt and penalties from Glencore Energy UK Ltd over the two consignments, supplied by a subsidiary of Russia's largest bank in March. "Glencore is refusing to pay, citing sanctions," Sberbank First Deputy Chairman Alexander Vedyakhin told reporters. "There are different ways of working without violating sanctions... This issue could have been resolved, but unfortunately Glencore is refusing any communications with us." In March, as Western sanctions over Russia's actions in Ukraine started coming into force, Glencore said it would not enter into new trading business in respect of Russian-origin commodities unless directed by the relevant government authorities.

☆ Rouble tumbles to near eight-month low vs dollar
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +2 min

By 0740 GMT, the rouble was down 1.8% against the dollar at 72.25 , earlier hitting 72.3075, its weakest mark since April 29. It also lost 1.6% to trade at 76.82 versus the euro , also a near eight-month low, and shed 2% against the yuan to a near seven-month low of 10.28 . The rouble is continuing its "unrestrained fall", said Veles Capital analysts. Brent crude oil , a global benchmark for Russia's main export, was up 0.3% at $82.4 a barrel. For Russian equities guide seeFor Russian treasury bonds see($1 = 72.0000 roubles)Reporting by Alexander Marrow; Editing by Tom Hogue and Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Rouble weakens to 63 vs dollar as rate decision edges closer
▼ + stars: | 2022-12-12 | by ( Alexander Marrow | ) www.reuters.com time to read: +2 min

Markets also are awaiting a flurry of other interest rate decisions this week, including from the U.S. Federal Reserve and the European Central Bank. The rouble has showed a largely muted reaction to oil price swings in the last week. Volatility has been high as a price cap on Russian oil kicked in. Brent crude oil , a global benchmark for Russia's main export, was down 0.7% at $75.6 a barrel, pushing Russian stock indexes lower. For Russian equities guide seeFor Russian treasury bonds seeReporting by Alexander Marrow; Editing by Kim Coghill, KIrsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Russian state-owned bank VTB hit by largest DDoS attack in its history
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Dec 6 (Reuters) - Russia's No. 2 bank VTB (VTBR.MM) was hit by the largest cyber attack in its history, it said on Tuesday, warning of temporary difficulties in accessing its mobile app and website, but assuring customers that their data remained safe. "The bank's technological infrastructure is under an unprecedented cyber attack from abroad," VTB said in a statement. VTB said the majority of attacks had come from abroad, but that it was particularly concerned by traffic from Russian IP addresses. It said it would hand over all identified Russian IP addresses to law enforcement.

[1/2] Chinese Yuan and U.S. dollar banknotes are seen behind illuminated stock graph in this illustration taken February 10, 2020. His contract manufacturing business with Russia has been small in the past, but now he's preparing to invest in warehousing there. He sees a win-win situation in Chinese exporters reducing their currency risks and payment becoming more convenient for Russian buyers. The U.S. Treasury declined to comment on the yuan's growing presence in Russia. ($1 = 7.2074 Chinese yuan renminbi)Editing by Vidya Ranganathan and Pravin CharOur Standards: The Thomson Reuters Trust Principles.

☆ Russia's Sberbank files lawsuits over restrictions on European units
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies This content was produced in Russia, where the law restricts coverage of Russian military operations in UkraineMOSCOW, Nov 21 (Reuters) - Russia's largest lender, Sberbank (SBER.MM), has filed lawsuits challenging decisions by the European Commission and Single Resolution Board (SRB) to impose restrictions over some of its European operations. Sberbank Europe AG, based in Vienna, was closed in March by order of the European Central Bank (ECB), which cited the risk of imminent failure resulting from the bank's economic difficulties and the potential for a run on deposits after Russia sent tens of thousands of troops into Ukraine. The SRB, which was set up to limit the cost to taxpayers from failing banks, on March 1 adopted resolution schemes with respect to Sberbank Europe's subsidiaries in Croatia and Slovenia, ruling that shares be transferred to a buyer, citing risks to the financial stability of the two countries. Sberbank did not immediately respond to a request for comment on the lawsuits, which were brought on Aug. 22, filings published by the European Union showed on Monday. Reporting by Elena Fabrichnaya and Alexander Marrow Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Russian blue chips tank after people killed in Poland near Ukraine border
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: 1 min

[1/3] Gazprom logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. REUTERS/Dado Ruvic/IllustrationNov 15 (Reuters) - Shares of Russian blue chips including Gazprom (GAZP.MM), Rosneft (ROSN.MM), Sberbank (SBER.MM), Polyus (PLZL.MM) and Nornickel (GMKN.MM) were down by down 2-3.8% in late trade in Moscow. Two people were killed in an explosion in Przewodow, a village in eastern Poland near the border with Ukraine, firefighters said on Tuesday. Russian defense ministry said no strikes near Ukrainian-Polish border were conducted by Russian weapons. Reporting by Reuters; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

Commodity trade finance covers many types of loans, typically from banks, that facilitate global movement of goods from wheat to gasoline. Most trade finance loans are short-term, less than a year. The involvement of hedge funds in commodity trade finance has created a lifeline for smaller firms, deemed to be higher risk for banks due to strict capital requirements and clean energy goals. 'DESIRE TO DIVERSIFY'Lending for commodity trade finance has become more diverse, with non-bank financial institutions (NBFI) stepping in. The Swiss firm specialises in financing small to mid-sized commodity merchants and has achieved returns between 6% to 10% over the last 10 years.

☆ U.S. to allow some Russian energy-related transactions until next May
▼ + stars: | 2022-11-10 | by ( Simon Jessop | ) www.reuters.com time to read: 1 min

WASHINGTON, Nov 10 (Reuters) - The United States will allow some energy-related transactions with several Russian entities including Sberbank (SBER.MM), VTB Bank (VTBR.MM) and Alfa-Bank to continue through May 14, the Treasury Department said on Thursday. Treasury said in a notice on its website that it was extending a general license that was set to expire next month. Russia's central bank is also on the list of entities. The move comes weeks before the Group of Seven's Dec. 5 price cap on Russian oil is set to take effect. Reporting by Costas Pitas and Daphne Psaledakis; Editing by Eric BeechOur Standards: The Thomson Reuters Trust Principles.

☆ Sberbank 10-month net profit tops 50 bln roubles under RAS, CEO says
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: 1 min

Nov 10 (Reuters) - Russia's largest lender Sberbank's (SBER.MM) net profit for the first ten months of the year exceeded 50 billion roubles ($811.7 million) under Russian accounting standards, its chief executive said on Thursday. The company also said it would return to publishing results on a monthly basis. Reporting by Elena Fabrichnaya; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Russia's Sberbank makes over 50 bln rbls profit in 10-months
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

Russian financial authorities have managed to stabilise the situation - yet restrictions, including capital controls, remain and partial mobilisation led to cash outflows from retail accounts in September and October. Sberbank shares were trading at 5.6% and VTB shares were up 3.1% at 1136 GMT, respectively. Sberbank's results "are good news allowing us to expect strong financial results in the remaining months and to hope for a dividend payout return," Promsvyazbank analysts said in a note. Dividends from Sberbank and VTB are an important source of budget revenues. Sberbank sees no restrictions on dividend payments in the coming years while VTB would use the bulk of its profit to beef-up the capital, their CEOs have said.

☆ Russia's Sberbank sues Glencore for $116 mln over oil supplies
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Russia's largest lender Sberbank in Moscow, Russia, December 24, 2020. The database showed Sberbank was seeking to recover debt and penalties from Glencore Energy UK Ltd over two agreements, worth roughly 58 million euros each. One related to oil blend supplies to the border of Ukraine and Hungary in March, and the other to supplies to the border of Ukraine and Slovakia in the same month. Russia sent its troops into Ukraine on Feb. 24 for what it calls a "special military operation". ($1 = 1.0073 euros)Reporting by Oksana Kobzeva Writing by Vladimir Soldatkin Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Croatia's Fortenova says it was not notified of Sberbank's stake sale - media
▼ + stars: | 2022-11-03 | by ( David French | ) www.reuters.com time to read: 1 min

SARAJEVO, Nov 3 (Reuters) - Croatian food producer and retailer Fortenova Grupa said it had not been officially notified of a deal that Russian state bank Sberbank Rossii PAO (SBER.MM) reached to sell its 43% stake in the company, local media reported on Thursday. In a brief statement on Wednesday, Sberbank said the stake had been bought by Saif Bin Markhan Alketbi, an investor from the United Arab Emirates. Reporting by Daria Sito-Sucic; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Russia's Sberbank says it has sold its 43% stake in Croatia's Fortenova
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: 1 min

Nov 2 (Reuters) - Russian state bank Sberbank Rossii PAO (SBER.MM) said on Wednesday that it had sold its 43% stake in Croatian food producer and retailer Fortenova Grupa but did not give a reason. In a brief statement, Sberbank said the stake had been bought by Saif Bin Markhan Alketbi, an investor from the United Arab Emirates. Reporting by David Ljunggren; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Top Russian lender Sberbank expands financial terminal capabilities
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +1 min

As Western businesses have left the market, Russian businesses have sought to pick up the pieces, finding ways to replace departing firms. London Stock Exchange Group's (LSEG.L) data platform Refinitiv and rival Bloomberg suspended their services, including financial products. Sberbank said its platform now included analytical and research materials, as well as daily trading overviews in commodities, funding and FX. Thomson Reuters (TRI.TO), the parent of Reuters News, holds a minority stake in the LSE after the exchange bought Refinitiv from it. Sberbank's platform, previously known as Sberbank Markets, has been used by 5,000 corporate clients, Sberbank said.

☆ Russia's VTB Bank opens 'vostro' account at Indian branch
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Oct 26 (Reuters) - Russia's No.2 lender VTB (VTBR.MM) on Wednesday said it had opened a special "vostro" account at its Indian branch that would allow for the more active use of Indian rupees in payments under import and export contracts between Russia and India. It follows a similar move by Russia's dominant lender Sberbank (SBER.MM), which on Monday said it was offering clients "vostro" accounts in rupees, aiming to facilitate clients in carrying out rupee-denominated trade transactions which are increasing due to western sanctions. Both state-run banks have obtained permission to open vostro accounts - which a local correspondent bank holds on behalf of a foreign bank - from the Reserve Bank of India (RBI), which earlier this year to put in place a mechanism to facilitate international trade in rupees. The measure was seen as aiding business ties with Russia in case of more stringent Western sanctions against Moscow. Reporting by Alexander Marrow; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

"SAP is fully committed to winding down our business in Russia as quickly as possible," a SAP spokesperson said. Russia's parliament has been discussing draft legislation that would allow Moscow to seize Western companies' assets and possibly prosecute executives involved in implementing sanctions against Russia. While Gazprom and Sberbank were hit by Western sanctions, Nornickel was not. The SAP case sheds light on the complications Western companies face leaving Russia. While some departing companies have fired local staff, SAP gave them the option to relocate from Russia.

☆ Russia demands Apple explain VK removal from App Store
▼ + stars: | 2022-09-28 | by ( Alexander Marrow | ) www.reuters.com time to read: +3 min

SummarySummary Companies This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. MOSCOW, Sept 28 (Reuters) - Russia's communications regulator on Wednesday demanded an explanation from Apple (AAPL.O) after applications operated by the Russian state-controlled tech firm VK (VKCOq.L) were removed from the U.S. firm's App Store. VK runs Vkontakte, which with over 75 million monthly users is Russia's largest social network, often compared to Facebook. Register now for FREE unlimited access to Reuters.com RegisterRoskomnadzor said Apple's actions had deprived millions of Russians of access to VK apps and demanded that it explain its decision. Regardless of location, the apps cannot be downloaded from any App store, said Apple, which terminated the developer accounts associated with the apps to comply with UK sanctions.

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