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Russian bank sues JPMorgan
Rosselkhozbank, Russia’s key agricultural lender, is the main financial intermediary for Russian food and fertilizer exports. Last year, the bank was targeted by Western sanctions and disconnected from the SWIFT international payment system.
Russian bank launches SWIFT transfers in major Asian currency Tinkoff, one of Russia's largest private lenders, has launched transfers in Thai baht via the SWIFT messaging system. The bank sends funds via SWIFT to over 30 countries, including China, Puerto Rico, and Türkiye.
Swift Haulage Berhad (KLSE:SWIFT) Shares Could Be 30% Above Their Intrinsic Value Estimate Swift Haulage Berhad (KLSE:SWIFT) is potentially 30% overvalued. Analyst price target for SWIFT is RM0.68, which is 61% above fair value. We'll take a look at whether the stock is fairly priced by taking the expected future cash flows and discounting them to today's value.
G7 to announce Russian diamond ban – Reuters The G7 is set to place an embargo on direct and indirect imports of Russian diamonds. The EU is also set to propose a 12th package of sanctions against Moscow. The G7 could introduce a diamond tracking system similar to SWIFT.
Global Use Of The Euro Has Collapsed In The Past Nine Months Since mid-July, the common currency has lost nearly 8% against the dollar. According to data from SWIFT, the use of the euro has collapsed in the past nine months.
African country resumes imports of Russian wheat Morocco has resumed imports of Russian wheat for the first time since the outbreak of the Ukraine conflict. The kingdom stopped importing wheat from Russia early last year after Moscow was cut off from the SWIFT financial messaging system. The first cargo is expected to arrive in the North African country within days.
5 Americans Freed From Iran Prison As US Hands Over $6BN In Controversial Deal The five American citizens (dual nationals) who had been imprisoned in Iran are on their way toward freedom, having been flown from Tehran to a Doha airport. The Biden administration had issued a sanctions waiver to make it happen without running afoul of US law. On Monday two Qatar banks received the transfer $6 billion in frozen Iranian money from South Korea via the SWIFT international payment system.
UN suggests connecting Russian Agricultural Bank subsidiary to SWIFT and unlocking assets of Russian companies UN, with the participation of Turkey, has prepared new proposals for the restoration of the Black Sea Grain Initiative. Package provides for connection of the Russian Agricultural Bank subsidiary to SWIFT and the unblocking of the frozen assets of Russian companies producing fertilisers in Europe.
Kremlin says it sticks to conditions for return to Black Sea grain deal Kremlin spokesman Dmitry Peskov said Russia needed its state agricultural bank to be reconnected to the international SWIFT bank payments system. The Black Sea deal was brokered by Turkey and the United Nations in July 2022 to enable Ukraine to export grain by sea.
Kremlin says it sticks to conditions for return to Black Sea grain deal Kremlin spokesman Dmitry Peskov said Russia needed its state agricultural bank to be reconnected to the international SWIFT bank payments system. The Black Sea deal was brokered by Turkey and the United Nations in July 2022 to enable Ukraine to export grain by sea despite the war and help ease a global food crisis.
Russia sticks to demands on Black Sea grain deal,... Russia sticks to demands on Black Sea grain deal, rejects UN bank proposal. Kremlin spokesman Dmitry Peskov said Russia needed its state agricultural bank - and not a subsidiary of the bank - to be reconnected to the international SWIFT payments system.
Russian bank could return to SWIFT in a month – media Russia's key agricultural lender, Rosselkhozbank, might get access to the SWIFT international banking system as early as this month. The measure is touted as an incentive for Moscow to return to the Black Sea grain deal suspended in July. UN Secretary General Antonio Guterres reportedly told Moscow a subsidiary of the bank might apply for reinstatement.
UN proposes easing some sanctions on Russia to revive grain export deal UN proposes lifting some Russia sanctions for grain deal resumption. There are proposals to connect a subsidiary of Rosselkhozbank to SWIFT and unfreeze the assets in Europe of Russian fertilizer companies.
EU officials say sanctions against Russia have had 'hard tangible effects,' and that the country's future is bleak The European Union imposed 11 rounds of sanctions against Russia starting shortly after it invaded Ukraine in February 2022. Measures included kicking Russia out of the SWIFT global financial communication system, limiting energy imports from Russia, and establishing a $60-per-barrel price cap on Russian oil.
Russia's economic future is bleak as sanctions are working: EU The European Union imposed 11 rounds of sanctions against Russia starting shortly after it invaded Ukraine in February 2022. Measures included kicking Russia out of the SWIFT global financial communication system. Russia's GDP, for one, shrank 2% in 2022, the year sanctions first took effect.
Use of euro in global payments nosedives – data SWIFT cross-border transactions in the single currency hit a historic low in July. The use of the euro for international settlements dropped to its lowest level on record in July, RIA Novosti reported.
BRICS payment system would not replace SWIFT -S.Africa finance minister South Africa's finance minister says the BRICS grouping would not be looking to replace international payment systems including SWIFT. Enoch Godongwana: "It's not an alternative to SWIFT" The creation of a common BRICS currency was not on the finance ministers' agenda.
BRICS payment system would not replace SWIFT -S.Africa... South Africa's finance minister said the BRICS grouping would not be looking to replace international payment systems including SWIFT. The bloc's leaders announced they would task their finance ministers to consider the issues of local currencies, payment instruments and platforms.
Can Kyiv Sanction Its Way To A Victory? The EU said it will extend its sanctions until January 2024. Systemically important Russian banks have been cut off from the global SWIFT banking system. In many ways, barring secondary sanctions on emerging market countries, we may have hit peak Russia sanctions.
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