SCO & BRICS latest news and insights
— In-depth analysis and comments

IMF & ECB warn confiscation of Russian assets could collapse the Global Financial Sysytem

By Rhod Mackenzie

The supranational financial institutions have issued a cautionary note to Western governments regarding the effects of the confiscation of Russian assets. In April, the President of the European Central Bank, Christine Lagarde, made a similar statement. Lagarde advised that the c...

Russia BRICS China Sanctions IMF Frozen Assets Euroclear ECB
Austrian Raiffeisenbank in no hurry to leave Russia

By Rhod Mackenzie

One of the largest banks in Russia, the subsidiary of the Austrian Raiffeisen Bank, continues to operate in the country. The United States has repeatedly pressured it to leave Russia, yet for two years,they have not imposed any real restrictions on it . The ECB also has reservati...

Russia BRICS Sanctions EU Euro Finance Banking ECB