Sunday, March 30, 2014

 

Sanctioned Rossiya Bank ditches foreign currency for ruble

Rossiya bank which was blocked last week by Visa and MasterCard says it will limit its operations to the domestic market and stick to the ruble.

The bank wants to protect its clients against any possible "unfair action" by foreign financial institutions.


Despite the changes, the bank promised to fulfill its obligations to clients and partners.

“The bank doesn’t need any support for its ongoing operations, including from the state regulator,” Rossiya Bank said in a statement released Friday.

The bank has already notified its US partners that it is abandoning the corresponding accounts.

“In the near future similar notes will be sent to other foreign financial organizations,” the bank added.

The Speaker of Russia’s upper House Valentina Matvienko said the bank would have a strategic advantage in Russia.

“The first financial institution that’ll be fully protected against any unfair action of foreign countries has emerged in Russia,” Matvienko told reporters on Friday.

The Speaker said she was sure Rossiya bank will become especially attractive to entrepreneurs, and corporations that deal in rubles and within Russia.

The statement comes a week after Visa and MasterCard temporarily stopped servicing a number of Russian banks that included Rossiya Bank. On Thursday President Vladimir Putin said Russia would create its own payment system, like those operating in China and Japan.

The expanded US list of sanctioned Russians now includes the main shareholder of Rossiya Bank (30.3 percent) Yuri Kovalchuk.

Tags : , ,

Share

Social

The idea behind the text.
Respect for the truth is almost the basis of all morality.
Nothing can come from nothing.



Follow

Popular Topics

Read

Well, the way they make shows is, they make one show. That show's called a pilot. Then they show that show to the people who make shows, and on the strength of that one show they decide if they're going to make more shows.

Like you, I used to think the world was this great place where everybody lived by the same standards I did, then some kid with a nail showed me I was living in his world, a world where chaos rules not order, a world where righteousness is not rewarded. That's Cesar's world, and if you're not willing to play by his rules, then you're gonna have to pay the price.

You think water moves fast? You should see ice. It moves like it has a mind. Like it knows it killed the world once and got a taste for murder. After the avalanche, it took us a week to climb out. Now, I don't know exactly when we turned on each other, but I know that seven of us survived the slide... and only five made it out. Now we took an oath, that I'm breaking now. We said we'd say it was the snow that killed the other two, but it wasn't. Nature is lethal but it doesn't hold a candle to man.

You see? It's curious. Ted did figure it out - time travel. And when we get back, we gonna tell everyone. How it's possible, how it's done, what the dangers are. But then why fifty years in the future when the spacecraft encounters a black hole does the computer call it an 'unknown entry event'? Why don't they know? If they don't know, that means we never told anyone. And if we never told anyone it means we never made it back. Hence we die down here. Just as a matter of deductive logic.