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SWIFT Ban Against Russian Banks
The SWIFT ban against some Russian banks is one of several international sanctions against the Russian regime imposed by the European Union and other western countries as a result of its invasion of Ukraine, aimed at weakening the country's economy to end the invasion by hindering Russian access to the SWIFT financial transaction processing system. Background SWIFT is used by thousands of financial institutions in more than 200 countries, previously including Russia, and provides a secure messaging system to facilitate cross-border money transfers. According to the Russian National SWIFT Association, around 300 banks use SWIFT in Russia, with more than half of Russian credit institutions represented in SWIFT. Russia has the second highest userbase after the United States. If Russia were to be excluded from SWIFT, its interbank payment transactions will become significantly more complex, and the country's ability to trade goods and exchange currencies would be significantly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Sanctions During The Russian Invasion Of Ukraine
Following Russian invasion of Ukraine, Russia's invasion of Ukraine beginning on 24 February 2022, the United States, the European Union, and other Western countries introduced or significantly expanded International sanctions during the Russo-Ukrainian War, sanctions covering Russian President Vladimir Putin, other government members and Russian citizens in general. Some Russian banks were SWIFT ban against Russian banks, banned from using the SWIFT international payments system. The sanctions and the Boycott of Russia and Belarus, boycotts of Russia and Belarus Economic impact of the Russian invasion of Ukraine#Russia, impacted the Russian economy. Background and history of sanctions and ramifications History of sanctions Western countries and others imposed sanctions on Russia after it Address concerning the events in Ukraine, recognised the independence of its occupied territories, the so-called Donetsk People's Republic, Donetsk and Luhansk People's Republics, on 21 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canada
Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by total area. Its southern and western border with the United States, stretching , is the world's longest binational land border. Canada's capital is Ottawa, and its three largest metropolitan areas are Toronto, Montreal, and Vancouver. Indigenous peoples have continuously inhabited what is now Canada for thousands of years. Beginning in the 16th century, British and French expeditions explored and later settled along the Atlantic coast. As a consequence of various armed conflicts, France ceded nearly all of its colonies in North America in 1763. In 1867, with the union of three British North American colonies through Confederation, Canada was formed as a federal dominion of four provinces. This began an accretion of provinces an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In Russia
Banking in Russia is subject to significant regulations as banks in the Russian Federation have to meet mandatory Russian legislation requirements, and comply with numerous Bank of Russia instructions and regulations. History Soviet period Until 1986, the USSR banking system included 4 components: Stroybank, Vneshtorgbankand, Mrudesberkass and Gosbank. Perestroika Perestroika reforms affected the banking system. In June 1987, a plenum of the Central Committee of the CPSUs took place, where it was decided to improve the system. In July 1987, the Central Committee of the CPSU and the "Council of Ministers of the USSR made Resolution No. 821 "On improving the system of banks in the country and strengthening their impact on improving the efficiency of the economy. The creation of banks on a commercial basis was permitted by the Law "On Cooperation in the USSR", adopted on May 26, 1988. As part of Mikhail Gorbachev's perestroika program, other banks were formed, including; "Proms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Society For Worldwide Interbank Financial Telecommunication
Swift or SWIFT most commonly refers to: * SWIFT, an international organization facilitating transactions between banks ** SWIFT code * Swift (programming language) * Swift (bird), a family of birds It may also refer to: Organizations * SWIFT, an international organization facilitating transactions between banks * Swift Engineering, an American engineering firm * Swift & Company, a meat processing company * Swifts (aerobatic team), a Russian aerobatic team Transportation companies * Swift Cooper, a British racing car manufacturer * Swift Leisure, a British manufacturer of caravans * Swift Motor Company, of Coventry, England * Swift Transportation, a US trucking company Places * River Swift, a river in England * Swift, Illinois, an unincorporated community in northeastern Illinois * Swift County, Minnesota, a county in west-central Minnesota * Swift, Minnesota, an unincorporated community in northern Minnesota * Swift, Missouri, a ghost town in southeastern Missouri As ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sanctions And Boycotts During The Russo-Ukrainian War
A sanction may be either a permission or a restriction, depending upon context, as the word is an auto-antonym. Examples of sanctions include: Government and law * Sanctions (law), penalties imposed by courts * Economic sanctions, typically a ban on trade, possibly limited to certain sectors (such as armaments), or with certain exceptions (such as food and medicine), e.g., ** Sanctions against Iran ** Sanctions against North Korea ** Sanctions against Russia * International sanctions, coercive measures adopted by a country or a group of countries against another state or individual(s) in order to elicit a change in their behavior ** International sanctions during the Russo-Ukrainian War * Pragmatic sanction, historically, a sovereign's solemn decree which addresses a matter of primary importance and which has the force of fundamental law Arts, entertainment, and media *''The Eiger Sanction'', a 1972 thriller novel by Trevanian, the pen name of Rodney William Whitaker ** ''The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reactions To The Russian Invasion Of Ukraine
On 24 February 2022, in a major escalation of the Russo-Ukrainian War that began in 2014. The invasion caused Europe's largest refugee crisis since World War II, with more than 6.4 million Ukrainians fleeing the country and a third of the population displaced. The invasion also caused global food shortages. Reactions to the invasion have varied considerably across a broad spectrum of concerns including public reaction, media responses, and peace efforts. Summary The invasion received widespread international condemnation from governments and intergovernmental organisations, with reactions including new sanctions imposed on Russia, which triggered widespread economic effects on the Russian and world economies. The European Union financed and delivered military equipment to Ukraine. The bloc also implemented various economic sanctions, including a ban on Russian aircraft using EU airspace, a SWIFT ban on certain Russian banks, and a ban on certain Russian media ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gazprombank
Gazprombank (russian: Газпромбанк), or GPB (JSC), is a private-owned Russian bank, the third largest bank in the country by assets. Since November 2014, Yuri Shamalov's Gazfond is its largest shareholder. The bank’s principal business areas are corporate banking, retail banking, investment banking and depository services. Its banking activities also include securities trading, foreign exchange operations, precious metals operations, clearing operations and settlement services. The bank has a distribution network of 43 branches and over 260 banking outlets located throughout the Russian Federation. GPB also has ownership interests in three other Russian banks. In addition, Gazprombank is represented in the markets of Belarus and Switzerland through ownership interests in two foreign banks: Belgazprombank (Belarus) and Gazprombank (Switzerland) Ltd. Gazprombank also has representative offices in Mongolia, China and India. History In August 2005 for 37.22 billion rubles ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gazprom
PJSC Gazprom ( rus, Газпром, , ɡɐzˈprom) is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg. As of 2019, with sales over $120 billion, it was ranked as the largest publicly listed natural gas company in the world and the largest company in Russia by revenue. In the 2020 ''Forbes'' Global 2000, Gazprom was ranked as the 32nd largest public company in the world. The Gazprom name is a contraction of the Russian words ''gazovaya promyshlennost'' (, gas industry). In January 2022, Gazprom displaced Sberbank from the first place in the list of the largest companies in Russia by market capitalization. Gazprom is vertically integrated and is active in every area of the gas industry, including exploration and production, refining, transport, distribution and marketing, and power generation. In 2018, Gazprom produced twelve percent of the global output of natural gas, producing 497.6 billion cubic meters ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sberbank
PJSC Sberbank (russian: Сбербанк, initially a contraction of russian: сберегательный банк, translit=sberegatelnyy bank, lit=savings bank, link=no) is a Russian majority state-owned banking and financial services company headquartered in Moscow. It was called Sberbank of Russia until 2015 (currently: Sber). Sberbank has operations in several European nations, primarily post-Soviet countries. By 2022, the bank accounted for about a third of all bank assets in Russia. The bank's rise since 1990s is in part due to its close connections to the Russian government. it was the largest bank in Russia and Eastern Europe, and the third largest in Europe, ranked 60th in the world and first in central and Eastern Europe in ''The Banker''s Top 1000 World Banks ranking. In the world ranking of public companies ''Forbes'' "Global 2000" Sberbank takes 51st place. History Early history Sberbank's history goes back to Cancrin's financial reform of 1841, when a netw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
VTB Bank
VTB Bank (; formerly known as ''Vneshtorgbank'', , lit. 'International Trade Bank') is a Russian majority state-owned bank headquartered in various federal districts of Russia; its legal address is registered in Saint Petersburg, St. Petersburg; as of 2022 company's capital stock was mostly owned by three Russian agencies. VTB Bank and its subsidiaries form a leading Russian financial group – VTB Group uniting VTB banks located in different countries and offering a wide range of corporate banking services and products in Russia, Commonwealth of Independent States, CIS, Europe, Asia, Africa, and the U.S. VTB was ranked 446th on the Financial Times Global 500, FT Global 500 2012, The ''Financial Times''’ annual snapshot of the world's largest companies. It climbed to 210th in the ranking of the 500 largest companies in Europe, the FT Europe 500 2014, and to 127th in the FT Emerging 500 2014, the list of the 500 largest companies on the world's emerging markets. History ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovcombank
Sovcombank (Public Joint-Stock Company "Sovcombank", Russian language, Russian: Совкомбанк) is a Russian privately owned universal bank included in the list of 13 systemically important Russian banks. In terms of assets, it ranks 9th among Banking in Russia, Russian banks (1,483 billion rubles). From 1990 its initial name was Buycombank (after former headquarters Buy, Kostroma Oblast, town Buy in Kostroma Oblast, Kostroma region) before been bought and rebranded into Sovcombank and his partners in February 2003. The main owner of Sovcombank (86.5%) is the Russia-based company JSC Sovco Capital Partners, owned by private Russian shareholders, notably (as of August 2020) brothers Dmitry and Sergey Khotimsky who own together 37% of Sovco Capital Partners. Minority shareholders of Sovcombank include Public Investment Fund, Public Investment Fund of Saudi Arabia (3.3%), Russia-China Investment Fund (2.0%) and Russia-Japan Investment Fund (1.3%) After operating within Neth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rossiya Bank
The Rossiya Bank (Bank Rossiya (russian: Банк «Росси́я»), in Russian: Акционерный коммерческий банк Россия, АКБ Россия) is a Russian joint stock bank founded on June 27, 1990. The company's headquarters are in Saint Petersburg. The bank has been associated with the Vladimir Putin regime in Russia. The Pandora Papers leak revealed that the bank built a network of shadow companies that kept offshore wealth for Russian elites. History Communist Party ownership and 1991 Soviet coup d'état attempt On August 23, 1990, a secret memorandum from Vladimir A. Ivashko, who was Gorbachev's deputy general secretary, was issued to organize the transfer of CPSU funds, CPSU financing and support of its operations through associations, ventures, foundations, etc. which are to act as invisible economics. Bank Rossiya was one of the hundreds of entreprises that CPSU financiers used to funnel the party gold away. In 1990, the CPSU committee o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
