Sanctions
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
US Treasury releases defi risk assessment
Lax adherence to AML/CFT requirements allows criminals to launder money
Cuba will again allow dollar cash deposits
Decision reverses ban in place since June 2021
UAE revokes licence for Russia’s MTS Bank
Gulf state was put on the FATF grey list last year
US regulators fine Wells Fargo for aiding sanctions-busting
Fed and Treasury say bank failed to halt client channelling funds to Iran, Syria and Sudan
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
US and UK sanction Russian bank licensed in UAE
Central bank “studying options” as Ukraine allies target sanctions evasion
Iran imposes FX controls as currency falls again
Commodities inflation bites ahead of upcoming new year
Russia to launch CBDC pilot in April
Central bank exploring cross-border functionality to evade sanctions
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
UAE grants licence to Russian bank
US voices concerns over sanctions evasion and threatens action against facilitators
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
DNB fines Coinbase for ‘severe’ non-compliance
Crypto exchange fined €3.3 million for operating without registration
Cuban foreign exchange reserves have fallen, state says
Unusual disclosure in official publication sparks speculation about country’s financial position
Russia and Iran discuss joint gold-backed stablecoin
Digital currency would be used for foreign trade settlements in special economic zone
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
Russia developing cross-border CBDC settlement
Research into two proposed models for digital ruble exports to begin in Q1
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.
Iran appoints new governor amid protests and plummeting rial
Farzin becomes fourth head of central bank in less than two years