Russia could reportedly begin testing a digital ruble before the summer’s end. Lawmakers in the country, whose payment systems have been hamstrung since last year due to its war with Ukraine, approved the creation of a digital currency on Wednesday (July 19), according to a report by Bloomberg...
Uzbekistan’s inter-bank processing center UZCARD has reportedly paused its processing of payments via the Bank of Russia’s National Card Payment System (NSPK)-issued Mir payment cards. UZCARD said the pause was caused by technical issues and was not in response to U.S. sanctions imposed last week...
On March 17, Russia’s Sberbank announced it had received a license from the Bank of Russia to run a cryptocurrency exchange and even launch its own token. The country’s largest retail bank is struggling under the sanctions that have cripple the country’s financial sector and...
The Bank of Russia has imposed a six-month restriction on local companies’ access to foreign currency cash in an effort to preserve hard currency amid sanctions against the country. As Reuters reported Thursday (March 10), the restrictions — which are in effect until Sept. 10...
October 11, 2024
Russia reportedly aims to create a new system for cross-border payments between BRICS countries. A report that includes this plan was published ahead of an annual BRICS summit that will be held Oct. 22-24, Bloomberg reported Friday (Oct. 11). BRICS includes as members Brazil, Russia, India, China and South Africa, as well as newer members […]
July 19, 2023
Russia could reportedly begin testing a digital ruble before the summer’s end. Lawmakers in the country, whose payment systems have been hamstrung since last year due to its war with Ukraine,...
September 23, 2022
Uzbekistan’s inter-bank processing center UZCARD has reportedly paused its processing of payments via the Bank of Russia’s National Card Payment System (NSPK)-issued Mir payment cards. UZCARD said the pause was...
March 10, 2022
The Bank of Russia has imposed a six-month restriction on local companies’ access to foreign currency cash in an effort to preserve hard currency amid sanctions against the country. As...
