Finance vs. tanks: Why SWIFT might be the weapon Russia fears most
Some are calling it the “nuclear option.” As Western governments threaten Russia with a package of unprecedented sanctions aimed at deterring President Vladimir Putin from ordering an invasion of...
View ArticleTinkoff introduces Russia’s first digital mortgage loans
Tinkoff’s mortgage loan offering is the first of its kind in Russia: the process will take place entirely online, from paperwork to credit issuance. Since Tinkoff has always been branchless, customers...
View ArticleWhite House: US unlikely to kick Russia off SWIFT
The US said Friday it will “probably not” try to kick Russia out of the SWIFT financial messaging system should Moscow invade Ukraine. Washington has threatened to levy “severe” sanctions on Moscow in...
View ArticleRussia weighs pros and cons of using crypto to evade Western sanctions
As Western powers began cutting off its access to the SWIFT interbank payment system, Russia could turn to cryptocurrency to bypass sanctions. This Monday Sergey Glazyev, a former Russian minister and...
View ArticleChina’s payment card giant UnionPay backs away from Russia
China’s UnionPay system refused to cooperate with Russia’s biggest lender Sberbank and suspended talks with other banks for fear of secondary sanctions, the RBC news website reported Wednesday....
View ArticleRussia’s Rostec develops blockchain system as “real alternative” to SWIFT
Earlier this month Rostec, a state corporation that comprises more than 700 enterprises in the fields of defense and technology, announced they have developed a blockchain platform to provide a “real...
View ArticleChina’s UnionPay cuts off Russian banks over sanctions
China’s UnionPay paymentsystem has stopped accepting cards issued by Russian banks under Western sanctions over fears of penalties, the RBC news website reported Friday, citing financial industry...
View ArticleBanks from six countries suspend Russia’s MIR cards amid US pressure and...
The international acceptance of MIR, Russia’s answer to Visa and Mastercard, shrunk dramatically last week as major banks from Armenia, Kazakhstan, Tajikistan, Turkey, Uzbekistan and Vietnam announced...
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