Contents tagged with Gazprombank
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Turkey seeks U.S. exemption from Gazprombank sanctions amid energy dependency concerns
Amid the fallout from U.S. sanctions on Russia's Gazprombank affecting Turkey, Ankara is urging Washington to lift the restrictions specifically for the Turkish side. According to the Turkish newspaper Hürriyet, this topic was raised on December 13 during discussions in Ankara with an American delegation led by U.S. Secretary of State Antony Blinken.
The publication reminds us that the U.S. administration imposed sanctions on Gazprombank to hinder Russia's use of the international financial …
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UAE banks halt transactions for Russian companies amid U.S. pressure
Russian businesses face increased payment scrutiny as UAE banks are now blocking and delaying transactions linked to Russian companies amidst a fresh wave of U.S. sanctions. These new restrictions add to the immense challenges the Russian economy faces due to Western-imposed sanctions, tightening the financial noose as overseas anti-sanction "hubs" fall apart under the threat of secondary sanctions.
The UAE had emerged as a crucial financial "hub" for Russian entities, facilitating their trade …
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US sanctions on Russia’s Gazprombank disrupt card services in Hungary, Turkey, and UAE
UnionPay cards issued by Russia’s 'Gazprombank' have stopped being serviced in Hungary, Turkey, and the United Arab Emirates. This comes after the bank was added to a new list of US sanctions.
Russian media outlets report that OTP Bank in Hungary is not processing these cards. When it comes to Turkey and the UAE, reports simply mention that “banks have stopped” servicing them.
In particular, attempts to withdraw money using these cards in Turkey and the Emirates prompt ATM warnings about …
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Foreign investments in Russian national debt reach one-year low
The nominal quantity of non-residents’ investments in Russian Federal Loan Bonds (OFZs) as at July 1 was 1.98 trillion rubles, the Central Bank of Russia reported. The total OFZ market at the time amounted to 7.03 trillion rubles. The non-resident investor share has thus dropped to 28.2%, the lowest in nearly one and a half years. The last time this indicator was below 30% was at the end of February 2017. Looking at the nominal volume, the amount invested by non-residents in Russian national …
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Putin’s eldest daughter Maria Vorontsova appeared on Russian TV
The eldest daughter of Russian President Vladimir Putin, Maria Vorontsova, appeared on a TV program on channel “Russia 24.” This is her first appearance on television.
On July 19th, a TV program which discussed innovations in the field of medicine was aired. One part of the program was given by child endocrinologist, a researcher at the National Medical Research Center of Endocrinology and of the Russian Ministry of Health Maria Vorontsova, whom the media called Putin’s daughter.
Little …
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Swiss subsidiary of Russian GazpromBank banned from accepting new clients after money laundering audit
The Swiss Financial Market Supervisory Authority (FINMA) has uncovered serious inadequacies in the anti money laundering procedures of GazpromBank’s subsidiary company in Switzerland (GazpromBank (Switzerland) Ltd.) and has banned it from taking on new private clients.
The decision was made earlier, following a two-day investigation prompted by the Panama Papers – material on the offshore accounts and companies of politicians and high-ranking officials from more than 50 countries.“The bank was …