Russia May ‘Nationalize’ Foreign Assets in Response to Western Sanctions, Med...
Authorities in Russia may begin to seize funds of foreign nationals and companies that are in the country, former Russian President Dmitry Medvedev has indicated. His warning comes as the West continues to expend penalties imposed on Moscow over its military invasion of neighboring Ukraine. Medvedev Warns Persons and Entities From ‘Hostile’ Nations May Lose Their Assets in Russia The nationalization of Russian-based assets belonging to foreigners and businesses registered in “hostile jurisdictions” is a possible response to the potential seizure of funds of....
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A majority of the financial pyramids identified in 2022 used cryptocurrencies in one way or another, Russia’s central bank announced in a new report. Amid Western sanctions, Russian scams have stepped up their activities, often claiming to be licensed by foreign authorities to offer access to crypto assets.
Russian Pyramids Take Advantage of Western Sanctions and Popularity of Crypto
Over 56% of the pyramid schemes in the Russian Federation during the first half of the year, or 537 entities, raised funds in various cryptocurrencies or advertised crypto investments, a....
Despite the Russian government’s expectation that cryptocurrencies will be legalized as a form of payment, no consensus has yet been reached after months of panel discussions in Moscow about crypto. Nonetheless, Russia is contemplating the use of cryptocurrency for international payments in an effort to mitigate the effects of western sanctions imposed in response to […]
Remittance giant Western Union has joined other financial services companies supporting sanctions in response to Russia’s invasion of Ukraine. The decision will affect customers in the Russian Federation as well as those in Belarus, an ally of Moscow, backing its military operation. Western Union Condemns Invasion of Ukraine, Halts Services in Russia and Belarus Money transfer specialist Western Union has condemned Russia’s military assault on neighboring Ukraine, expressing “shock, disbelief, and sadness around this tragedy and humanitarian disaster.” The....
The European Union is extending the scope of sanctions introduced in response to Russia’s invasion of Ukraine, with the latest agreement between member states specifically mentioning crypto assets. Russian oligarchs, senators and Belarusian banks have been targeted. Europe’s Sanctions Classify Crypto Assets as Securities to Close Loopholes for Russia On Wednesday, the European Commission welcomed a new agreement between the 27 members of the European Union to amend the bloc’s regulations imposing sanctions on Russia — for its military assault on Ukraine —....
Russia’s largest bank, Sberbank, has denied its own supposedly false statement on being included in the U.S. sanctions list on Thursday. In the event of harsh Western sanctions as Russian forces invade Ukraine, retail customers could risk losing their savings.Russians’ savings could be confiscated in response to sanctions against the country, according to Nikolai Arefiev, a member of the country’s Communist Party and vice-chairman of the Duma’s committee on economic policy.The Russian government can potentially seize about 60 trillion rubles ($750 billion) worth of people’s deposits should....