The central banks of Venezuela and Russia are reportedly working on an alternative financial system the SWIFT international payment system, a platform that expelled Russian banks in 2022.
Venezuelan Foreign Minister Yván Gil announced on Tuesday that the two countries' banks are working...
Economic Advisor to Russian President Vladimir Putin, Maxim Oreshkin (pictured), stated on Saturday that the country will manage fine without being a part of the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
Oreshkin stressed that Moscow will be making arrangements so...
Bank of Russia (CBR) may reduce its key interest rate soon but that will depend on the volatility of the economic situation and on whether inflation will go down, the institution's chairwoman Elvira Nabiullina told the Russian Union of Industrialists and Entrepreneurs (RSPP) on Wednesday.
Nabiullina...
The European Union began crafting its seventh package of sanctions against Moscow as a punitive measure over its military actions in Ukraine, Polish Press Agency reported, citing Deputy Head of the Polish Foreign Affairs Ministry, Pawlo Jablonski.
The official revealed that the new round of measures...
The press service of Russian Sberbank said on Tuesday this financial services company would continue to operate as usual, despite being banned from the SWIFT international payment system.
"Disconnecting from SWIFT does not change the current situation in international settlements. Domestic...
European Union leaders agreed their sixth sanctions package against Moscow will include the expulsion of Russia's Sberbank from the SWIFT international payment system.
Along with the measure de-Swifting the largest Russian bank, the bloc will also ban 3 more Russian state-owned...
The Russian embassy in New Delhi spokesperson Dmitry A. Solodov said on Tuesday that Russia is considering opening alternative payment links with India after many of its banks were previously blocked from the Swift financial network.
According to Solodov, the Russian counterpart attempts to...
Federal Reserve Chair Jerome Powell warned on Wednesday that there could be some effects on the United States economy related to Russia's ban from the SWIFT international payment system.
However, Powell noted that the strength of the possible effects is difficult to predict since the US and...
The European Union announced on Wednesday it has excluded seven Russian banks from the SWIFT international payment system due to Moscow's military operations in Ukraine.
The banks included in the ban are VTB Bank, Otkrytie FC Bank, Novikombank, Promsvyazbank, Rossiya Bank,...
Bank of Russia head Elvira Nabiullina (pictured) said on Monday that SPFS, the Russian equivalent of the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system, will be able to replace it.
Russian financial infrastructure will work "smoothly," she said at a press conference,...
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