INSUBCONTINENT EXCLUSIVE:
2, 2024, outgoing cross-border transfers in foreign currencies will no longer be available for our clients except for a limited number of
following pressure from the European Central Bank for Raiffeisen Bank International to unwind its business in the warring country.The
changes will not have an impact on ruble transfers to countries that accept them, the bank said in its statement on Thursday.Raiffeisen
Russia stopped processing outgoing payments in U.S
dollars earlier this summer
In July 2023, it suspended euro-denominated bank transfers to several former Soviet republics while keeping them available for transfers
made between Raiffeisen clients.Raiffeisen, the largest foreign bank operating in Russia, previously announced plans to gradually exit
Russia following the full-scale invasion of Ukraine in February 2022.In a semi-annual earnings report released last month, Raiffeisen Bank
International said it will continue to scale back its Russian business amid pressure from European authorities and the U.S
Treasury Department.A Message from The Moscow Times:Dear readers,We are facing unprecedented challenges
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our staff at risk of prosecution
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