EU slashes 10% of Russian imports with new sweeping sanctions

EU slashes 10% of Russian imports with new sweeping sanctions

EU bans Russian coal in first hit to energy imports Existing coal contracts must be terminated by start of August EU also bans imports of Russian chemicals, vodka, caviar Exports of technology, jet fuel to Russia banned More oligarchs, Putin’s daughters face asset freezes April 8 (Reuters) – The European Union on Friday formally adopted … Read more

US sanctions Putin’s daughters and more Russian banks

US sanctions Putin’s daughters and more Russian banks

St. Basil’s Cathedral and towers of Kremlin are silhouetted against the sunset in Moscow, Russia August 12, 2021. REUTERS/Evgenia Novozhenina/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, April 6 (Reuters) – The United States targeted Russian banks and elites with a new package of sanctions on Wednesday, including banning Americans from … Read more

JPMorgan’s Dimon warns of possible $1 billion Russia loss

JPMorgan’s Dimon warns of possible  billion Russia loss

Dimon concerned about secondary impact of Ukraine conflict Dimon calls for increased US military presence in Europe Dimon urges revamp of US supply chain Fed rate hikes could be higher than market expectations -Dimon NEW YORK, April 4 (Reuters) – JPMorgan (JPM.N) could lose about $1 billion on its Russia exposure, Chief Executive Jamie Dimon … Read more

Ruble firms for ninth session in Moscow, stocks jump eyeing gas saga

Ruble firms for ninth session in Moscow, stocks jump eyeing gas saga

March 31 (Reuters) – The Russian ruble strengthened for a ninth straight session in Moscow, ending near 83 per dollar on Thursday, and stocks jumped higher as some curbs on short selling were lifted, with the market focused on the effects of Moscow’s demand that its gas exports be paid for in roubles. The ruble … Read more

Barclays faces $590 million hit, scrutiny over sales slip-up

Barclays faces 0 million hit, scrutiny over sales slip-up

LONDON/NEW YORK, March 28 (Reuters) – British bank Barclays faces an estimated 450 million pound ($592 million) loss and regulatory scrutiny for exceeding a US limit on sales of structured products, some of which have surged in popularity since Russia’s invasion of Ukraine. Barclays (BARC.L) said on Monday that it will have to delay a … Read more

In Istanbul and Dubai, Russians pile into property to shelter from sanctions

In Istanbul and Dubai, Russians pile into property to shelter from sanctions

Some buying for investment, others seek a home Both UAE and Turkey maintain flights to Russia Some Russians may have prepared ahead of invasion ISTANBUL/DUBAI, March 28 (Reuters) – Wealthy Russians are pouring money into real estate in Turkey and the United Arab Emirates, seeking a financial haven in the wake of Moscow’s invasion of … Read more

Exclusive: Clients plead with top custodian banks to stay in Russia

Exclusive: Clients plead with top custodian banks to stay in Russia

Banks face mounting pressure to commit to custody roles Banks say they will meet existing client obligations Some clients afraid exits will follow as costs soar LONDON/NEW YORK, March 23 (Reuters) – Global banks including Citigroup Inc (CN), JPMorgan Chase & Co (JPM.N) and Societe Generale (SOGN.PA) face pressure to commit to remaining as custodian … Read more

Foreigners banned from selling Russian stocks as market set for limited reopening

Foreigners banned from selling Russian stocks as market set for limited reopening

March 23 (Reuters) – Russia plans to resume some stock trading on Thursday after a near month-long hiatus, with 33 ruble securities to be traded on the Moscow Exchange. Non-residents will have to wait, though – they will be barred from selling stocks and OFZ ruble bonds until April 1. Trading in blue chips, including … Read more

Tesla rolls out first vehicles as German gigafactory goes live

Tesla rolls out first vehicles as German gigafactory goes live

BERLIN, March 22 (Reuters) – Tesla will on Tuesday deliver to customers the first 30 Model Y cars made at its 5 billion euro ($5.5 billion) Gruenheide plant, launching its first European production hub that is the biggest investment in a German car factory in recent history. Chief Executive Elon Musk arrived in Berlin on … Read more

EXCLUSIVE Moscow sets out strict new controls on foreigners trading Russian assets

EXCLUSIVE Moscow sets out strict new controls on foreigners trading Russian assets

Steam rises from chimneys of a heating power plan over the skyline of central Moscow, Russia November 23, 2020. REUTERS/Maxim Shemetov/File Photo Register now for FREE unlimited access to Reuters.com Register Russia temporarily stopped foreigners selling assets Foreigners now need to provide details before trading Applications for permits must be made in Russian language LONDON/NEW … Read more