Russia stokes fears of first foreign currency default in more than a century as it attempts payment
Russian Finance Minister Anton Siluanov claimed Russia had the necessary funds to fulfill its obligations and pay $117 million in...
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Goldman Sachs shutters Russia business, first major Wall Street bank to leave after Ukraine war
Most big U.S. banks had modest operations in Russia, a geographically large nation with a relatively small economy. Citigroup had the...
In move to sanction Russia, Switzerland breaks from long tradition
In a sharp break with its long-standing neutrality, Switzerland announced that it would join the European Union in imposing sanctions on...
Crypto exchanges resist calls for ban on Russia transactions
Crypto exchanges are coming under pressure to block transactions with Russia, as western politicians fear that cryptocurrencies provide a...
Coinbase is latest exchange to deny Ukraine request to block Russian crypto users
Over the weekend, Ukraine's vice prime minister and Minister of Digital Transformation, Mykhailo Fedorov, publicly appealed to "all major...
Sanctions significantly increase chances of a Russian international debt default
Russia has over $700 million worth of government bond payments due this month. While in theory it has ample reserves to cover debt, in...
Joined by allies and partners, the United States imposes devastating costs on Russia
The sanctions announced include cutting off Russia’s largest bank from the U.S. financial system – which is a significant blow to its...
What is Swift and could it be used in sanctions against Russia?
Russia’s assault on Ukraine triggered a surge of calls for Western allies to completely sever Russia from the global financial system by...
Mir breaks Visa-Mastercard duopoly in Russia
The ECB has long discussed an alternative scheme akin to Visa and Mastercard. Albeit, while regulated, the Mir network in Russia has...
Mir breaks Visa-Mastercard duopoly in Russia
As Europe's proposed alternative to Visa and Mastercard takes shape, evidence from Russia suggests that an upstart rival can break the...
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