Putin Allows Sanctioned Russian Banks To Halt Certain FX Operations

Putin

According to a decree signed by President Vladimir Putin, Russian banks that have their foreign currency funds frozen due to western sanctions can suspend operations in such currencies with their corporate clients.

Russian authorities have commenced reducing the use of currencies of countries designated as “unfriendly” countries since Western countries imposed extensive sanctions after Russia sent tens of thousands of troops into Ukraine on Feb. 24.

Putin’s decree said the new measures could remain until after lifting sanctions that impaired transactions in foreign currencies.

The sanctions have limited the foreign currency transfers that Russian banks can make from one to another.

Many have been cut off from the SWIFT global payments system. At the same time, Apple and Google withdrew access to their digital payments systems in Russia, and Russians can no longer use Mastercard and Visa cards abroad.

With their already limited cash holdings of hard currency, Russian banks have few options for investing in foreign currencies because of capital controls in Russia and the risk of funds abroad being frozen. These factors have caused some to introduce fees and commissions.

Russian authorities have voiced concerns about individual and corporate holdings of dollars and other so-called “unfriendly” currencies, calling for their conversion into alternative currencies and assets.

This Post Has 3 Comments

  1. Puede utilizar un software de gestión para padres para guiar y supervisar el comportamiento de los niños en Internet. Con la ayuda de los siguientes 10 software de administración de padres más inteligentes, puede rastrear el historial de llamadas de su hijo, el historial de navegación, el acceso a contenido peligroso, las aplicaciones que instalan, etc.

  2. Rastrear teléfono

    La mejor aplicación de control parental para proteger a sus hijos – monitoriza en secreto GPS, SMS, llamadas, WhatsApp, Facebook, ubicación. Puede monitorear de forma remota las actividades del teléfono móvil después de descargar e instalar apk en el teléfono de destino. https://www.mycellspy.com/es/

  3. sklep internetowy

    Wow, wonderful weblog layout! How lengthy have you been blogging for?

    you made running a blog look easy. The total look of your web site
    is excellent, as well as the content material!

    You can see similar here e-commerce

Leave a Reply

Important Link

Fund Your Deriv Account
Withdraw Funds to Your Local Currency
VIP Trading Signals
Learn To Trade

Contact Us

Follow Us

Disclaimer

Forex, Crypto, Options, and Binary Options have both large potential rewards and large potential risks. Therefore, before investing or trading any of the assets, ensure you are aware of and willing to accept the accompanying risks. Do not trade money you cannot afford to lose.

All Rights Reserved. None of the content of this website can be published elsewhere by any means without the prior consent of the owner(s). Please, check our terms & conditions and privacy policy before continuing to use this website.

This website and its owner(s) are not in any way liable for any incurred loss, whether caused by the information provided on this website or otherwise. The use of this website, including the content and information provided, is the user’s sole liability.