Russia
The financial sanctions maze
Anyone affected by Russia-related sanctions knows patience and caution are strongly advised, writes Richard Heckinger
Russian legislators approve Islamic banking pilot
Two-year programme may attract foreign capital or appease restive minorities
Russian central bank raises rates and warns of more to come
Nabiullina says inflationary pressures are rising and warns of effects of bigger fiscal deficit
Fed fines Deutsche Bank $186.4 million for AML violations
German lender failed to comply with earlier orders and was involved in Danske Bank scandal
Ukraine’s governor on central banking in wartime
Andriy Pyshnyy talks about macroeconomic stability, running banks under missile attack, winning IMF aid and post-war reconstruction plans
Two major lenders tighten limits on Russian transactions
Raiffeisen stops euro payments to Russia, and Bank of China stops yuan payments from Russia
Russian governor Nabiullina warns of future hikes
Bank will raise rates if structural deficit rises, while labour market is “complicated”, governor says
Venezuela may join Russian card network
Mir system suffered major setbacks last year after US warning
EU concludes authorities cannot seize Russian assets
Brussels says Europe may be able to invest assets and use extra profits to aid Ukraine
ECB to run cyber attack stress test for eurozone banks
Eurozone banks have seen major increase in hacking after Russian invasion of Ukraine, Panetta says
Russia may nominate candidate for World Bank president
Experts think move is meant to embarrass US
Russian payment system to start operation in Cuba soon
Ambassador says Mir will help Cuba counter effects of embargo
FATF suspends Russia and grey-lists Africa’s largest economies
South African president pledges rapid reform as Yellen hails action against Russia
EU countries must report Bank of Russia assets, Commission says
Move opens way for seizing Russian assets, but Swiss government says confiscation would be illegal
Russian governor says rates may have to rise
Nabiullina says economy may grow amid wartime investment, but inflationary pressures are high
Iran and Russia to link banking systems to bypass sanctions
Move follows Iran’s signing of free trade “memorandum” with Russia-led EAEU
Sanctions fear drives surge in central bank gold purchases
China, Turkey and India are largest declared buyers, while Russia probably bought big quantities
IMF says global economy may be at ‘turning point’
China and India expected to drive half of global growth this year, but other economies are lagging
The always imminent demise of the global dollar
Creating effective alternatives will remain long and arduous despite China’s development of Cips, the mCBDC bridge and any oil-price redenomination, writes Barry Eichengreen
Bank of Russia restarts open FX trading to support ruble
Ruble will trade openly against yuan as Russian dependence on Chinese markets appears to grow
Reserve Benchmarks 2022 – presentation
Reserves specialist Victor Mendez-Barreira speaks with Chris Jeffery about staffing and salaries, the inflation challenge, Bank of Russia sanctions, green investments, asset diversification, and reserve levels and liquidity lines.
Ukraine accuses Russian governor of crimes during occupation
Security service says Nabiullina organised effort to create “ruble zone” in Russian-controlled Kherson
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
The canary in the goldmine
Gold accumulation may herald broader concerns about dollar holdings, writes Jennifer Johnson-Calari