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...The bank is now stuck and facing a multimillion-dollar lawsuit from its former partner in Russia, VTB....
...Foreign minister Vivian Balakrishnan, trade and industry minister Gan Kim Yong and minister for home affairs K Shanmugam, were also involved in some of the briefings, the people said....
...“These payments are easily processed because [foreign banks] can open correspondent accounts in roubles at the Russian branches of foreign banks.”...
...The case against CMB centres on a long-running dispute between two Russian businessmen, one of which is a client of the bank....
...They now trade at about 30 per cent of book value, towards the bottom of the bank’s European peer group....
...funds totalling $439.5mn a week after Kremlin-run lender VTB launched legal action against the US bank to recoup money stuck under Washington’s sanctions regime....
...Polish prosecutors identified the suspect as Paweł K and said he had “expressed willingness to act on behalf of the Russian military intelligence and established contacts with citizens of the Russian Federation...
...Excessive bank regulation is for the birds, reckons the European Banking Federation. At least that is what an avian-themed cartoon on the report’s cover suggests....
...Through a series of interrelated transactions and shifts in ownership, RBI hoped to acquire the Strabag shares owned by Deripaska in return for some of its assets in Russia....
...“By raising the stakes for banks supporting sensitive trade with Russia, our coalition is pouring sand into the gears of Russia’s military logistics.”...
...In a hefty research note the US investment bank argues that investor sentiment on K-pop is “ripe for a turnaround”....
...Central banks: Malaysia’s central bank is expected to hold its overnight policy rate at 3 per cent when it meets today. The Bank of Japan releases a summary of opinions from its April policy meeting....
...UK Finance, the trade body, said the report covered “a number of other important issues” and backed its call to maintain support for SMEs as the PRA, which is part of the Bank of England, implements the...
...This opens a route for Russian foreign exchange reserves to be transferred to Ukraine without any confiscation ever happening. That matters....
...The US crackdown on banks financing trade in goods for Moscow’s war efforts is bearing fruit, making it much more difficult to move money in and out of Russia....
...So sky-high growth rates for trade between Russia and China could soon be a thing of the past....
...By sanctioning some Russian financial institutions, the west merely caused the accumulation of foreign assets to shift from sanctioned to non-sanctioned banks....
...Lagarde’s comments point to a transatlantic rift over the push to raise tens of billions of euros in debt for Ukraine secured against the future profits generated by the Russian state assets frozen by western...
...Moldova’s foreign ministry has summoned the Russian ambassador for “undermining the sovereignty and territorial integrity” of the country....
...As a man shaped by America’s era of crisis in the 1970s and early 1980s, Trump has a crudely nationalist view of trade and exchange rates....
...from the previous year, the Russian Central Bank (CBR) said in a report published on Tuesday....
...One person said China had become increasingly concerned about the possibility of sanctions on its banks....
...Foreign central bank deposits in US bank accounts enjoy protection: A court cannot touch that money as long as it belongs to the central bank and is used for normal banking purposes....
...In turn foreign investors have traditionally held a large share of Moscow’s sovereign assets — at its peak in 2020, they accounted for around 35 per cent of Russian government debt, according to central...
...The record profits are another sign of the relative resilience of the Russian economy despite US and European efforts to hurt it via trade restrictions and other punitive measures....
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