banks

Sberbank cuts interest rates on consumer loans

Sberbank cuts interest rates on consumer loans

From April 10, Sberbank cuts rates on consumer loans by 2 percentage points, the minimum rate will be 19.9%, the bank said in a statement, TASS reports. "Since April 10, Sberbank has been making consumer loan conditions more …

Russia eases some curbs on transferring money abroad

Russia eases some curbs on transferring money abroad

Russia's central bank said on Friday it was softening restrictions on foreign fund transfers for individuals for a six-month period. The bank said the measures, which raise an earlier limit on funds that can be transferred abroad, …

EBRD to close its offices in Moscow and Minsk

EBRD to close its offices in Moscow and Minsk

The European Bank for Reconstruction and Development (EBRD) announced that it would close its resident offices in Moscow and Minsk, the financial institution said on Monday. "The European Bank for Reconstruction and Development …

"Mir" card may be accepted in Venezuela

"Mir" card may be accepted in Venezuela

Moscow and Caracas are exploring opportunities to connect Venezuela to the Mir payment system, Russian Ambassador to Venezuela Sergey Melik-Bagdasarov said, TASS reports. "Venezuela’s connection to the Mir payment system …

Gazprom Pay to replace PayPal in Russia?

Gazprom Pay to replace PayPal in Russia?

PJSC Gazprom has submitted an application to Rospatent for the registration of the "Gazprom Pay" brand. The trademark is being registered under the class of the international classification of goods and services (ICGS) No. 9, …

Sanctioned Russian banks to be cut from SWIFT on March 12

Sanctioned Russian banks to be cut from SWIFT on March 12

The European Union has disconnected from the SWIFT interbank payment system seven Russian banks, including VTB, Rossiya, Otkritie, Novikombank, Promsvyazbank, Sovcombank and VEB.RF. Relevant regulations were posted in the EU Official …

EU excludes seven Russian banks from SWIFT

EU excludes seven Russian banks from SWIFT

The European Union is excluding seven Russian banks from the SWIFT messaging system that underpins global transactions as part of its sanctions over Russia's special operation in Ukraine, the EU official journal said on Wednesday. …

G7 to cut some Russian banks from SWIFT

G7 to cut some Russian banks from SWIFT

Group of Seven (G7) leaders said that western allies had decided to cut off “certain Russian banks” from the worldwide interbanking communication system called SWIFT. The statement, in a joint declaration published by the …

Bank of Russia raises key rate to 20%

Bank of Russia raises key rate to 20%

The Russian central bank on Monday raised its key interest rate to 20% from 9.5% to counter risks of rouble depreciation and higher inflation. Russia has also ordered companies to sell 80% of their foreign currency revenues, the central …