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LONDON, March 16 (Reuters) – The economic cost of Russia’s assault on Ukraine was further exposed on Wednesday as the sanctions-hit country teetered on the brink of its first default on international debt since the Bolshevik revolution. Moscow is due to pay $117 million in interest on two dollar-denominated sovereign […]
Russia
Russia relaxes rules on foreign exchange buying as rouble rallies
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A view shows Russian rouble coins in this illustration picture taken March 25, 2021. REUTERS/Maxim Shemetov/Illustration Register now for FREE unlimited access to Reuters.com Register April 8 (Reuters) – Russia will relax temporary capital control measures aimed at limiting a drop in the rouble by allowing individuals to buy cash […]
Russia, China woes risk worst EM corporate default wave since financial crash – JPMorgan
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Flags of China and Russia are displayed in this illustration picture taken March 24, 2022. REUTERS/Florence Lo/Illustration Register now for FREE unlimited access to Reuters.com Register EM wide corporate default rate seen at highest since GFC Ukraine expected to see near 99% corporate default rate Russia forecast to see 27% […]
U.S. companies are rushing to suspend or curtail operations in Russia. Not Koch Industries.
Charles Koch poses for a 2019 portrait. Wikimedia Commons/Gavin Peters A flood of U.S. companies have announced plans to suspend, close or curtail activities in Russia following that country’s invasion of neighboring Ukraine, but one prominent conglomerate seems to be operating on a business-as-usual basis. Koch Industries, the Wichita, Kan., […]
Here are the companies still doing business in Russia undeterred
A corporate exodus from Russia in response to its military invasion of Ukraine has seen more than 300 U.S. and multinational companies sever business ties with the country — and the list is growing by the minute. But even as many flee, a number of big-name firms have remained mum. […]
Russia suspends forex sales, curbs foreign cash withdrawals
Russia’s central bank has sharply tightened currency restrictions amid crippling Western sanctions over Moscow’s aggression on Ukraine. The bank on Tuesday announced citizens with foreign currency accounts would not be allowed to withdraw more than $10,000 until Sept. 9 and told commercial banks to stop selling hard currency to clients. […]
N.J. bars government business with Russia over Ukraine invasion after Murphy signs law
New Jersey has barred its state and local public entities from doing business with the Russian government and companies with direct ties to it, under a bipartisan bill Gov. Phil Murphy signed into law Wednesday in response to the country’s invasion of Ukraine. The measure — which moved through the […]
Live updates: US plans to revoke Russia favored trade status | News
WASHINGTON — President Joe Biden will announce Friday that, along with the European Union and the Group of Seven countries, the U.S. will move to revoke “most favored nation” trade status for Russia over its invasion of Ukraine. That’s according to a source familiar with the matter who spoke on […]
Visa, Mastercard suspend operations in Russia over Ukraine invasion
March 5 (Reuters) – U.S. payments firms Visa Inc (V.N) and Mastercard Inc on Saturday said they were suspending operations in Russia over the invasion of Ukraine, and that they would work with clients and partners to cease all transactions there. Within days, all transactions initiated with Visa cards issued […]
Live updates: U.S. House approves Russia oil import ban bill | Business, Finance & Technology
WASHINGTON — The U.S. House overwhelmingly approved legislation that would ban Russian oil imports to the United States, an effort to put into law the restrictions announced by President Joe Biden in response to the escalating war in Ukraine. Going further than Biden’s import ban on Russian oil, the bill […]