Danish banking holding Danske Bank said that it will shut down its banking operations in the Baltics and in Russia after Estonia ordered it to close the branch at the center of one of the largest-ever money laundering scandals, Reuters reported.
The Estonian Financial Supervision Authority (FSA) has ordered Danske...
The head of the Russian Government, Dmitry Medvedev, has admitted in a speech at the State Duma that the life of most Russians is far from ideal and is very difficult for many of them, "some even merely surviving," Novaya Gazeta reports.
“Today almost 19 million people face poverty in...
The Crimean Bridge, a controversial project connecting the Kerch Peninsula of annexed Crimea and Russia’s Krasnodar region will be opened on May 15 or a day later, as the exact date depends on the schedule of Russian President Vladimir Putin, who will attend the opening ceremony, Gazeta.ru reported.
The 12-mile...
Switzerland’s largest Bank Credit Suisse because of the sanctions the United States froze about $5 billion associated with Russia, Reuters reports.
“Credit Suisse works with international regulators wherever it does business to ensure compliance with sanctions, including compliance with sanctions involving Russia,” a spokeswoman for the bank said, without identifying the...
Italian Prime Minister Giuseppe Conte is urging an end to European Union sanctions on Russia and said he is committed to boosting trade with Moscow, despite the measures, La Repubblica reports.
On his first trip to Moscow since taking office in June, Conte on Wednesday hailed Russia as an essential...
British retailer Kingfisher DIY, which owns the Castorama network of hypermarkets in Russia, has announced that it is leaving the country, as well as markets in Spain and Portugal, The Guardian reports.
"This will allow us to apply our strategy with more focus and efficiency in our main markets," Chief...
Russian banking group VTB, together with a group of investors, has bought 100% of the shares of International Restaurant Brands LLC, which is the largest partner of Yum! Brands Russia & CIS, developing the KFC brand in Russia, Rambler reports.
In addition to VTB, the consortium includes investment group Marathon Group,...
Some European investors will be grateful if the sanctioning of Russian debt is part of the next set of Washington’s sanctions against Moscow.
According to Jan Dehn, the head of research at Ashmore Group, which manages $65 billion of emerging-market assets, “It would mean forced selling by Americans, a wonderful...
American multinational investment bank Morgan Stanley is closing its equities and currency sales and trading desks in Moscow, joining other banks like Deutsche Bank and Credit Suisse in cutting back on its presence in Russia, Bloomberg reports citing people familiar with the matter.
The U.S. bank has about 40 employees on the...
