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Jordan News
3 days ago
- Business
- Jordan News
Russia's International Reserves Rise to $678.5 Billion - Jordan News
Russia's International Reserves Rise to $678.5 Billion The Central Bank of Russia announced on Friday that the country's international reserves increased by 1.6% in May, reaching $678.5 billion, a gain of $11 billion over the month. اضافة اعلان Key Drivers of Growth: The rise was attributed to a positive revaluation of foreign assets, reflecting favorable market conditions. Despite ongoing geopolitical challenges and financial sector pressures, the data signals a degree of economic stability in Russia. Russia's international reserves include foreign currencies, Special Drawing Rights (SDRs), reserve positions in the IMF, and gold holdings. The latest increase reinforces the country's efforts to maintain macroeconomic stability amid Western sanctions and global economic shifts.
Saba Yemen
4 days ago
- Business
- Saba Yemen
Russia's reserves see $11 billion weekly jump
Moscow - Saba: Russia's international reserves, which include gold and foreign exchange, rose to $11 billion between May 16 and 23. The Central Bank of Russia reported in a statement published by the Russia Today news website that Russia's international reserves reached $678.5 billion on May 23, and $667.5 billion on May 16, 2025. This represents an increase of $11 billion in the space of a week. The value of gold in reserves rose last month (April 2025) by $18.086 billion to $247.036 billion, while the share of gold in reserves rose to a record high of 36.3%. Russia's international reserves are highly liquid foreign assets at the disposal of the Central Bank of Russia and the Russian government, consisting of foreign currencies, special borrowing rights, the reserve position in the International Monetary Fund, and gold. Whatsapp Telegram Email Print more of (Economy)
Arabian Post
27-05-2025
- Business
- Arabian Post
Sber Steps into Digital Asset Market as Russia Eyes Regulated Crypto Trading
Sber, Russia's largest lender, is poised to become a market maker and liquidity provider on the country's forthcoming regulated cryptocurrency platforms, marking a significant shift in Moscow's approach to digital assets. This development aligns with the Central Bank of Russia's experimental legal regime , designed to permit cryptocurrency trading among a select group of high-net-worth individuals and institutions. Under the ELR, only 'super-qualified' investors—those with over 100 million rubles in securities and deposits or an annual income exceeding 50 million rubles —will be authorized to participate in crypto trading. The initiative, set to span three years, aims to enhance market transparency and establish regulatory standards for digital asset transactions. Sber's involvement is a strategic move, leveraging its existing license from the CBR to issue and exchange digital financial assets. This license, obtained in 2022, allows Sber to facilitate transactions involving tokenized assets backed by traditional financial instruments. By acting as a market maker, Sber will provide liquidity to the nascent crypto platforms, ensuring smoother trading experiences for participants. ADVERTISEMENT The ELR represents a cautious yet progressive step by Russian authorities to integrate digital assets into the financial system without fully lifting the domestic ban on cryptocurrency payments. While the use of cryptocurrencies for payments remains prohibited, the ELR provides a controlled environment for investment activities, mitigating risks associated with volatility and illicit transactions. The CBR and the Finance Ministry are collaborating to finalize the framework for the ELR, including the precise criteria for investor qualification and the operational guidelines for participating institutions. The initiative reflects a broader trend of regulatory experimentation in the face of evolving financial technologies and international sanctions. Russia's approach mirrors similar sandbox models adopted by other jurisdictions, aiming to balance innovation with financial stability. By restricting participation to super-qualified investors, the ELR seeks to limit systemic risks while gathering data to inform future regulatory decisions. The establishment of regulated crypto trading platforms also addresses the current reliance on foreign exchanges by Russian investors, which poses challenges for oversight and compliance. A domestic infrastructure would enable authorities to monitor transactions more effectively and enforce anti-money laundering measures. Sber's role is pivotal in this context, given its technological capabilities and extensive client base. The bank's digital asset platform, which supports the issuance of tokenized financial instruments, is expected to serve as a foundation for the new crypto trading environment. This infrastructure will facilitate the development of a regulated market, offering investors access to digital assets within a legal framework. The ELR is anticipated to commence in the latter half of 2025, following the completion of regulatory preparations and the establishment of necessary technological systems. During the pilot phase, authorities will assess the effectiveness of the regulatory measures and the performance of market participants, including Sber's role in maintaining liquidity and market stability. This initiative is part of Russia's broader strategy to modernize its financial sector and reduce dependence on Western financial systems, especially in light of ongoing international sanctions. By fostering a regulated digital asset market, Russia aims to attract investment, stimulate innovation, and enhance the resilience of its financial infrastructure. The success of the ELR could pave the way for more comprehensive integration of digital assets into Russia's financial ecosystem, potentially leading to the development of new financial products and services. However, the authorities remain vigilant about the risks associated with cryptocurrencies, emphasizing the importance of robust regulatory oversight and investor protection.
Yahoo
05-05-2025
- Business
- Yahoo
West believes Putin cannot agree to peace due to threat of domestic political issues
The United States has been urging Russia to stop its aggression against Ukraine and agree to a peace deal. Meanwhile, there has been growing conviction within Western government circles that Russian leader Vladimir Putin's regime is unable to end the war without serious political consequences inside the country. Source: German tabloid Bild Details: Bild noted that Russia shows no willingness to compromise despite international pressure. According to Bild, high-ranking Western government circles believe the reason lies in deep internal factors: political, economic and social. Quote: "This is because Russia has not yet achieved its military objectives. The defence industry has been inflated with huge investments. Hundreds of thousands of Russians are making good money from the war. All of this makes it very difficult for Putin to find a path to compromise." Details: According to Russian economists, if the sectors dominated by the defence industry are excluded from the analysis, Russia's economy is effectively in a state of recession. A downturn is evident in many industries, such as food production, coal, building materials, metal products and machinery manufacturing. "Production is falling! Only the defence industry is masking the decline," Bild said. According to economist Alexandra Prokopenko from the Carnegie Russia Eurasia Center, who worked at the Central Bank of Russia until 2022, the belief that ending the war would automatically lead to the collapse of the defence industry is exaggerated. Experts believe that an additional threat to Putin's regime comes from war veterans. Many of them, upon returning from the line of contact, may become a source of social instability, especially in regions with low living standards and limited economic prospects. "Dealing with veterans returning after the end of the war is likely to become a challenge for Putin," said Margaret Klein, an expert on Russia at the German Institute for International and Security Affairs. "Those who went to the line of contact as volunteers often received payments several times higher than the average salary. This concerns not only increased wages but also one-off recruitment bonuses amounting to over €40,000," Klein noted. According to her, the risk of a wave of violence increases if the Kremlin cannot offer these people an economic future. Quote from Klein: "The number of violent crimes has increased since Russia's full-scale invasion. There is a real danger that some of the veterans – like those who fought in Afghanistan or Chechnya – will become involved in [organised] crime." Support Ukrainska Pravda on Patreon!
Yahoo
24-04-2025
- Business
- Yahoo
Russia's Finance Ministry to Offer Crypto Trading to 'Highly-Qualified' Investors: Report
Russia's finance ministry and central bank are set to unveil a crypto exchange for "highly-qualified" investors, news agency Interfax reported on Wednesday. The exchange will "legalize crypto assets and bring crypto operations out of the shadows," Finance Minister Anton Siluanov said during a ministry board meeting, according to the report. "Naturally, this will not happen domestically, but as part of the operations permitted under the experimental legal regime," Siluanov said. The Central Bank of Russia proposed allow crypto trading within a pilot known as the experimental legal regime (ELR) in March. This would apply to highly qualified investors, a new investor category for individuals whose investments exceed 100 million rubles ($1.2 million) or an annual income exceeding 50 million rubles ($600,000). The absence of a centralized domestic crypto exchange in Russia means Russians rely on overseas trading platforms to buy and sell cryptocurrency, which the Finance Ministry and Central Bank may be seeking to counteract. The Central Bank has also proposed allowing highly-qualified investors to access derivatives and securities linked to digital assets, that do not involve the delivery of crypto to the investor but derive returns based on its value. Sign in to access your portfolio
