SCO & BRICS latest news and insights
The sanctions aganist Russia by the USA/EU and G7 countries have presented Russia with an opportunity to reposition the most important instrument of its sovereignty – its financial and stock markets – and nove them in a new direction. Lets look at the issues were facing Russian financial instituti...
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...
By Rhod Mackenzie
The US decision to seize frozen Russian assets will be advisory in nature, with the president able to reject it. This is due to the fact that the American financial elite does not want to jeopardise the power of the “No. 1 economy” over a few million dollars.
The bill was approv...
By Rhod Mackenzie
The G7 countries have stated that they intend to maintain the current freeze on Russian sovereign assets until they have received payment from Moscow for damages incurred in the Ukrainian conflict. This was confirmed by G7 finance ministers and central bankers in a statement rele...
By Rhod Mackenzie
According to a European official cited by Reuters, Russia's response to the EU's seizure of the Central Bank's frozen assets could potentially cause the bankruptcy of Euroclear, one of the world's largest settlement and clearing systems based in Belgium.
The EU cannot use a sign...
By Rhod Mackenzie
The international depository Euroclear earned about 4.4 billion euros in interest income from the frozen Russian assets in 2023, according to a press release on the website of this financial organization.
“In 2023, interest on cash balances from Russian assets subject to sanctio...
