 | | | | Russia's largest lender Sberbank is quitting almost all European markets, blaming big cash outflows and threats to its staff and property following Russia's invasion of Ukraine and Western sanctions. | | | | | | Sanctions imposed on Russia have significantly increased the likelihood that the country defaults on its dollar- and other international market government debt, investment bank JPMorgan warned on Wednesday. | | | | | | The European Union is excluding seven Russian banks from the SWIFT messaging system that underpins global transactions as part of its sanctions over Russia's invasion of Ukraine, the EU official journal said on Wednesday. | | | | | | The Ukrainian central bank on Wednesday asked the International Monetary Fund and the Group of Seven major economies to limit the participation of Russian and Belarussian representatives in their activities. | | | | | | Russia's central bank said on Wednesday it was temporarily suspending transfers by foreign legal entities and individuals from several countries to accounts abroad. | | | | | | Russia's Central Bank Governor Elvira Nabiullina said Russia's economy had come up against an extreme situation, something she said they had all hoped would not happen, in an video address to the bank's staff aired on Wednesday. | | | | | | Faced with an unprecedented level of sanctions on Russia, global banks are taking a dim view of business with all Russian entities and dropping clients if there is even a slight doubt on their ties to that country, said bankers and lawyers. | | | | | | The European arm of Sberbank , Russia's biggest lender, has been closed by order of the European Central Bank, which had warned it faced failure due to a run on deposits after Russia invaded Ukraine, Austria's Financial Market Authority said. | | | | | | The Bank of England needs to ensure the current surge in energy prices does not feed into businesses' longer-term pricing decisions, Monetary Policy Committee member Catherine Mann said on Tuesday. | | | | | | Fidelity Investments on Tuesday said more than 92% of its mutual funds do not have any investment in Russian securities, as of the latest disclosures. | | | | | |
