Western banks will remain in Russia

According to the expert, it is possible to register new foreign banks in Russia
Photo:


Russian President Vladimir Putin’s order to transfer gas payments motivates Western banks to leave their subsidiaries in Russia. This was reported in the review of VTB Capital.

“Buying rubles through Russian banks will reduce the likelihood of further sanctions being extended to” uncovered “credit institutions. In addition, the subsidiary banks of foreign financial institutions operating in the Russian jurisdiction will be suitable for these operations, ”Mark Goykhman, chief economist of the TeleTrade information and analytical center, expects, Izvestia reports. The expert believes that foreign banks will keep their subsidiaries in Russia. The financier noted that registration of new banks is possible in Russia.

The economist said that the most logical of all ways for importers to buy rubles to pay for Russian gas is to buy the national currency in Russian financial institutions. To do this, companies will need to open currency and ruble accounts in credit institutions of the Russian Federation, which are not subject to sanctions, and then – to convert euros or dollars into rubles, buying them from the bank.

Earlier, Russia launched a special operation to demilitarize and denationalize Ukraine. Russian President Vladimir Putin has said that this is a forced decision needed to protect the people of Donbass from years of genocide. The European Union has condemned the start of a special operation and imposed large-scale economic sanctions against Russia. Vladimir Putin said that Russia would respond by selling gas to “unfriendly” countries for rubles. The G7 countries (Britain, Germany, Canada, Italy, the United States, France and Japan) have said they will not. The Kremlin has stated that Russia will not supply gas to the EU if it refuses to pay in rubles.

If you want to report the news, write to us

Subscribe to URA.RU. Google News, Yandex.News and on our channel in Яндекс.Зенfollow the main news of Russia and the Urals telegram channel URA.RU. and receive all the most important news with delivery to your mail in our daily newsletter.

Russian President Vladimir Putin’s order to transfer gas payments motivates Western banks to leave their subsidiaries in Russia. This was reported in the review of VTB Capital. “Buying rubles through Russian banks will reduce the likelihood of further sanctions being extended to” uncovered “credit institutions. In addition, the subsidiary banks of foreign financial institutions operating in the Russian jurisdiction will be suitable for these operations, ”Mark Goykhman, chief economist of the TeleTrade information and analytical center, expects, Izvestia reports. The expert believes that foreign banks will keep their subsidiaries in Russia. The financier noted that registration of new banks is possible in Russia. The economist said that the most logical of all ways for importers to buy rubles to pay for Russian gas is to buy the national currency in Russian financial institutions. To do this, companies will need to open currency and ruble accounts in credit institutions of the Russian Federation, which are not subject to sanctions, and then – to convert euros or dollars into rubles, buying them from the bank. Earlier, Russia launched a special operation to demilitarize and denationalize Ukraine. Russian President Vladimir Putin has said that this is a forced decision needed to protect the people of Donbass from years of genocide. The European Union has condemned the start of a special operation and imposed large-scale economic sanctions against Russia. Vladimir Putin said that Russia would respond by selling gas to “unfriendly” countries for rubles. The G7 countries (Britain, Germany, Canada, Italy, the United States, France and Japan) have said they will not. The Kremlin has stated that Russia will not supply gas to the EU if it refuses to pay in rubles.

About the author

lpnaf

Leave a Comment