RUSSIAN SOVEREIGN ASSETS
G7 officials make progress but no final deal on money for Ukraine from frozen Russian assets
G7 finance officials are nearing an agreement on using frozen Russian assets to benefit Ukraine, with final decisions to be made at a June summit of national leaders.
G7 will try to use frozen Russian assets to help Ukraine
The G7 froze some $300 billion of Russian assets shortly after Moscow invaded its neighbour in February 2022. "We are making progress in our discussions on potential avenues to bring forward the extraordinary profits stemming from immobilized Russian sovereign assets to the benefit of Ukraine," the draft statement said.
With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets
Ukraine's allies are debating how to use frozen Russian assets to support Kyiv's war effort amid Russia's territorial gains. The issue of $260 billion in Russian assets frozen abroad is a key concern at the G7 meeting in Italy.
G7 powers to boost Ukraine air defences in face of Russian strikes
G7 powers are determined to bolster Ukraine's air defences, their foreign ministers said on Friday after repeated Russian air strikes which have wrecked power infrastructure and killed hundreds. The Group of Seven major powers -- Italy, Canada, France, Germany, Japan, Britain, the United States and European Union representatives -- has been fiercely critical of Russia's two-year long invasion of Ukraine.
Moves to unlock value of frozen Russian assets 'necessary and urgent': Janet Yellen
U.S. Treasury Secretary Janet Yellen, speaking at a news conference ahead of meetings with her G7 and G20 counterparts, said the U.S. and its allies were evaluating different options for some $285 billion in Russian assets immobilized in 2022 and the associated risks.
Russia warns the West: We will be very tough if you 'steal' our assets
Russia has warned the West that Moscow would respond very toughly if the US and EU seize hundreds of billions of dollars worth of Russian assets. This comes after the US and its allies blocked around $300 billion of sovereign Russian assets in the West in response to Russia's actions in Ukraine.
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Dubai pools assets in new fund to invest abroad
The fund will have responsibility for investing government funds, surpluses and general reserves, the Office said in a statement, adding that it would focus on investments in stocks and bonds and explore prospects both domestic and foreign. "Dubai is on a much stronger fiscal footing," said Tarek Fadlallah, chief executive of Nomura Asset Management in the Middle East.
Russian banks plan FPI arms to invest private wealth in India
Russian banks, including VTB, Sberbank, and Gazprombank, are considering becoming foreign portfolio investors (FPIs) to trade on Indian stock exchanges. VTB, Russia's second largest bank, has approached the Securities and Exchange Board of India (Sebi) to obtain an FPI license. The proposal will also need approval from the Reserve Bank of India (RBI).
The Saudi Sovereign Wealth Fund, explained
The fund, established in 1971 by royal decree, has its headquarters in Riyadh, Saudi Arabia, and offices in Hong Kong, London and New York. PIF has grown rapidly in recent years, funding ambitious tourism and commercial undertakings it calls "giga projects."
UK announces new sanctions on Russia targeting 86 individuals and entities
The 86 designations target individuals and organisations connected to Russia's energy, metals, defence, transport, and financial sectors - ramping up pressure on Putin's remaining revenue and attempts to use these sectors to support the military machine.
3 Russian investors register with Sebi to enter FPI list
Two Russian institutional entities and an individual, all based in Moscow, appear in the list of registered foreign portfolio investors (FPIs) with the Securities and Exchange Board of India (Sebi), as per information shared by the National Securities Depository Limited.
Estonian entity attempts to prevent Russian ship from entering Indian port
An Estonian entity reportedly filed a lawsuit but the court allowed unloading of military items meant for India. The Kerala high court Monday ordered that a Russian ship, MV MAIA-I, be seized over non-payment of fuel charges of around Rs 1.87 crore to an Estonian firm.
U.S. considering move to block Russian debt payments - Treasury
Bloomberg said the administration has decided against extending the waiver as a way to maintain financial pressure on Moscow. Western sanctions introduced following Russia's invasion of Ukraine ban transactions with Russia's finance ministry, central bank or national wealth fund.
Russia swerves to avoid default: What is next?
Russia's $40 billion in international bonds and the chance of a default have become the focus of global financial markets since it was hit with sanctions from the United States and its allies after its invasion of Ukraine in late February.
Oil prices will remain above $100/barrel as long as Ukraine war rages on
The war between Russia and Ukraine is affecting the global economy via financial sanctions, higher commodity prices and supply-chain disruptions.
As a Russian foreign debt default looms, brace for a bitter fight
The coming fight, which would probably pit Russia against big investors from around the world, raises murky questions over who gets to decide if a nation has actually defaulted in the rare case where sanctions have curbed a country's ability to pay its debts.
US lawmakers want India to restrict sale of Russian-origin diamonds
A bipartisan group of American lawmakers has sought the help of the Biden administration in restricting the international trade and sale of Russian-origin diamonds, in view of the massive sanctions that the US and its European allies have imposed on Moscow.
Russia will support India in a stand-off against ally China. Here's why
Not that sentiment plays no role in relations between nations. It does. The immense soft power that the West wields over nations like India colours the discourse, and could even impede rational pursuit of the national interest. So how does the national self-interest of Russia, China and the US play out vis-à-vis India?
Silicon Valley’s wealthiest Russian is carefully distancing himself from Putin
Yuri Milner built a $3.9 billion fortune, thanks to early funding from Kremlin-connected sources. He says that’s all in the past.
Don’t let global crisis go to waste! This may be the best time to invest in equities
India’s growth prospects are bright as it remains the most promising investment destination. The best time to invest in equities is during periods of considerable uncertainty as it is at this point that fear overtakes rational decision making and stock prices are marked down.
Who is subject to British sanctions over Russian invasion of Ukraine?
Britain's Prime Minister Boris Johnson said the government would be ruthless in pursuing those "who enable the killing of civilians, destruction of hospitals and illegal occupation of sovereign allies."
Chelsea sale plans on hold after UK freezes assets of owner Roman Abramovich
In total Britain said the seven figures added to the sanctions list because of their connections to Russian President Vladimir Putin had a collective net worth of 15 billion pounds ($19.74 billion). "There can be no safe havens for those who have supported Putin’s vicious assault on Ukraine," British Prime Minister Boris Johnson said.
Russian risk recalibration a wake-up call for investors
Buying into companies on the basis of environmental, social and governance (ESG) factors is one of the hottest trends in the fund management industry, attracting investments totalling more than $35 trillion by the start of 2020.
The extent of global banks' Russian exposure
Investors worry banks will again need to hike loan loss provisions, which had been declining after the pandemic-driven spike in 2020. The crisis is also reducing the chances of higher interest rates, which would have boosted income from lending.
America slaps individual sanctions on Putin, Russian Foreign Minister Lavrov
The latest US sanctions build on other sweeping actions that America and partners took earlier this week targeting the core infrastructure of the Russian financial system, including sanctions against Moscow's largest financial institutions, the US Department of the Treasury said in a statement.
How the world is seeking to put pressure on Russia over Ukraine
The first actions in the most recent crisis were taken after President Vladimir Putin of Russia signed decrees Monday recognizing Donetsk and Luhansk, two pro-Russian breakaway regions in eastern Ukraine, and then later ordering troops to enter those areas.
Russian stocks retreat 33% in biggest rout, $200 billion wiped out
Russian assets nosedived as military attacks across Ukraine prompted emergency central bank action and investors braced for the toughest round of Western sanctions yet, wiping out almost $200 billion in stock-market value.
Russian stock market rout wipes out $250 billion in value
The military attack on Ukraine cast a shadow over global markets and sparked a fresh bout of risk aversion. Russian assets took the main blow after President Vladimir Putin ordered an operation to “demilitarize” Russia’s neighbor, prompting international condemnation and a U.S. threat of further “severe sanctions” on Moscow.
EXPLAINED: How Western sanctions might target Russia
President Vladimir Putin also signed a decree on the deployment of Russian troops to the breakaway regions. But White House officials said that because Russia already had troops in the regions, Moscow's moves did not trigger a broad package of sanctions which Washington and its allies have been working on in the event of a Russian invasion of Ukraine.
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