Latest news with #MoscowExchange
Arabian Post
a day ago
- Business
- Arabian Post
Sberbank Unveils Bitcoin-Linked Bonds Amid Regulatory Shift
Sberbank, Russia's largest lender, has introduced structured bonds tied to Bitcoin's performance, offering investors exposure to cryptocurrency price movements without direct ownership. These bonds, denominated in rubles and compliant with Russian law, are currently available to qualified investors through over-the-counter markets, with plans for future listings on the Moscow Exchange. The initiative follows the Bank of Russia's recent decision to permit financial institutions to offer crypto-linked financial instruments to accredited investors. Under the new guidelines, banks can provide derivatives, securities, and digital financial assets whose returns are linked to cryptocurrency prices, provided there is no actual delivery of the underlying crypto assets. This move aims to offer regulated exposure to digital assets while mitigating associated risks. Sberbank's Deputy Chairman of the Executive Board, Anatoly Popov, stated that the bank's new product provides a convenient and secure way for investors to gain exposure to cryptocurrency assets without direct ownership, ensuring full compliance with regulatory requirements on Russian infrastructure. The structured bonds are designed to cater to investors seeking returns linked to cryptocurrency dynamics within a regulated framework. ADVERTISEMENT In addition to Sberbank's offerings, the Moscow Exchange has announced plans to launch a cash-settled Bitcoin futures contract on its derivatives market in June. The SPB Exchange has also outlined intentions to introduce cryptocurrency-linked futures trading, signaling a broader acceptance of crypto-related financial products within Russia's regulated financial markets. The Bank of Russia's decision to allow crypto-linked financial instruments comes amid increasing interest in digital assets among Russian investors. The central bank reported a 51% increase in crypto asset inflows by Russian residents in the first quarter of 2025, totaling 7.3 trillion rubles . To manage potential risks, the central bank has mandated that banks and credit institutions fully back these products with capital, apply conservative risk assessments, and set individual exposure limits. Sberbank's move to offer structured bonds tied to cryptocurrency price movements represents a significant step in bridging traditional finance with digital assets in Russia. By providing regulated investment products linked to cryptocurrencies, the bank aims to meet growing investor demand while adhering to the country's cautious regulatory stance on digital assets.
Miami Herald
4 days ago
- Business
- Miami Herald
Russia Sees $1 Billion Wiped off Stock Market After Trump's Putin Comments
Russia's stock market took a sharp dive following President Donald Trump's jibe that Vladimir Putin was "crazy" and threatening new sanctions. Vasily Astrov, an expert on Russia's economy, told Newsweek Tuesday that Trump makes contradictory comments on Russia almost daily, which causes stock market volatility. Trump issued the insult in a social media post—in which he also scolded Ukrainian President Volodymyr Zelensky—after Russia launched a massive aerial attack on Ukraine. The Russian financial services outlet Finam said Monday, the Moscow Exchange (MOEX) was "gripped by negative sentiment" as it fell over 2 percent, which led to market capitalization falling by a reported 100 billion rubles ($1.1 billion). Newsweek has contacted the Kremlin for comment. Trump's rhetoric on the war in Ukraine started by Putin is continuously shifting, and his latest comments followed a warning that the U.S. leader would be stepping back from peace talks if there is no progress. Kyiv, its allies and experts see U.S. sanctions on Russia, particularly on its fossil fuels, as key to pressuring Putin to the table and Trump's post threatening such measures will add to market jitters in the country's war economy. Trump took to Truth Social after Russia launched a massive attack on Ukraine over the weekend, with Moscow firing drones and missiles at 30 cities and villages and killing at least 12 people, including three children. Trump's post on Sunday boasted of his good relationship with Putin but said that the Russian president "has gone absolutely CRAZY" and was "needlessly killing" soldiers and civilians. Trump said that if Putin tries to take all of Ukraine "it will lead to the downfall of Russia," in the post which also took aim at Zelensky for "talking the way he does." The Kremlin responded by saying that the outburst was down to "emotional overstrain." Russia's stock market had fallen by 2.06 percent by 2.30 p.m. local time Monday, dropping to 2,711 points from its opening level of 2,735. By close of trading, it went down to 2,699, although by mid-morning Tuesday, there was a slight rise to 2,718. Sovcomflot—Russia's largest shipping company—had the biggest drop of more than 5 percent, while shares in energy and metals giant En+ Group, state-run Gazprom and tech firm VK Group also fell. Financial services outlet Finam said one of the main reasons for the drop was the geopolitical tensions following Trump's comments, which suggest that he is still considering tougher sanctions against Russia. The outlet also said the economic situation in Russia is "alarming" and that the reporting season for the first quarter has shown that even stable businesses are going through difficult times, affected by western sanctions, and the tight monetary policy of Russia's Central Bank, whose key interest rate is at 21 percent. Adding to pressure are reports that the EU is preparing to disconnect another 20 Russian banks from the SWIFT international payments system. Astrov, senior economist at The Vienna Institute for International Economic Studies, said that the slump in the stock market is "definitely the result of Trump's comments" rather than the prospect of EU action. U.S. President Donald Trump on Truth Social: "I've always had a very good relationship with Vladimir Putin of Russia, but something has happened to him. He has gone absolutely CRAZY!" Vasily Astrov of the Vienna Institute for International Economic Studies said of the stock market slump: "This is definitely the result of Trump's comments, not EU sanctions…EU sanctions…had already been priced in—whereas Trump's statements on Russia contradict each other almost on a daily basis and result in Russia's stock market volatility." Financial services outlet Finam: "The Russian stock market is gripped by negative sentiment." The war Putin started is tied to Russia's currency and stock markets which took a hit in April following the collapse of scheduled ceasefire negotiations over the war in Ukraine. There is anticipation over whether Trump's warning will lead to sanctions that might add to further turbulence in Russia's economy. Related Articles Ukrainian MiG-29 Fighter Jets Bomb Russian Special Services BaseChina Denies Ukraine's Russia Weapons ClaimRussian Bots Roast 'Clown' Donald Trump After Putin CommentsMAGA Divided as Trump Turns on Putin 2025 NEWSWEEK DIGITAL LLC.
Saba Yemen
05-05-2025
- Business
- Saba Yemen
Moscow exchange drops below 2,800 points
Moscow - Saba: The Moscow Exchange indices declined in trading on Monday, with its benchmark MOEX index falling below the 2,800-point mark for the first time since April 16. By 16:03 Moscow time, the ruble-denominated MOEX index had dropped 2.21% to 2,774.14 points, marking its first dip below 2,800 points since April 16, 2025. Meanwhile, the dollar-denominated RTS index fell 2.2% to 1,072.64 points, according to trading data. The decline in the Moscow Exchange coincides with falling oil prices in global markets, with Brent crude hitting its lowest level since April 9. Whatsapp Telegram Email Print
Yahoo
23-04-2025
- Business
- Yahoo
Rouble and Russian stocks tumble as Ukraine peace talks collapse
Russia's currency and stock markets took a sharp hit on Wednesday following the collapse of scheduled ceasefire negotiations over the war in Ukraine. Source: The Moscow Times Details: Reuters reports that the dollar rose 1.5% to 82.71 roubles as of 12:30 Moscow time, while the dollar on the Russian interbank market rose to 83.1 roubles, the highest level in a week. The euro rose by 2.2% to 94.5 roubles against the rouble, while the yuan rose by 2% to 11.35 roubles on the Moscow Exchange, also setting a weekly high. The Moscow Stock Exchange index, which had touched 3,000 points just a day earlier, dropped to 2,900 at the open. Shares of Gazprom, a Russian state-owned energy giant, fell by 3.2%, Sberbank, a Russian majority state-owned bank, by 1.5%, VTB by 3.1%, and Rosneft, a Russian integrated energy company, by 2.9%. Aeroflot, Russia's largest airline, lost more than 3% in value. Freedom Finance Global analyst Vladimir Chernov reports that the negative dynamics are related to geopolitics, as the peace talks on the war in Ukraine scheduled for 23 April were disrupted. Background: The ministerial-level peace talks on the war in Ukraine, which were to be held in London under the chairmanship of UK Foreign Secretary David Lammy on Wednesday, will not take place The heads of diplomatic missions of the United States, the UK, France, Germany and Ukraine were to attend the meeting. Earlier reports indicated that US Secretary of State Marco Rubio would not attend the talks. Instead, US President Donald Trump's special envoy for Ukraine, Keith Kellogg, is expected to participate. Later, the media reported that the foreign ministers of France and Germany would also cancel their visit to London. Support Ukrainska Pravda on Patreon!
Reuters
13-03-2025
- Business
- Reuters
Too early to discuss unblocking foreign funds in Russia, finance ministry says
MOSCOW, March 13 (Reuters) - Moscow is unwilling for now to discuss the unblocking of foreigners' funds in Russia while its own sovereign and private assets remain frozen overseas, Deputy Finance Minister Ivan Chebeskov said on Thursday. Around $300 billion of Russian financial assets, such as major currencies and government bonds, were frozen abroad, mostly in Europe, shortly after Moscow sent troops into Ukraine in February 2022. Western countries are debating how best to exploit those assets beyond using the profits to guarantee loans to Ukraine. In response, Russia has diverted foreign-owned funds in Russia to type-C accounts, access to which is blocked unless Moscow grants a waiver. "We still have a large amount of gold and forex reserves and our private assets blocked by Western countries, in Western depositaries, primarily in Europe," Chebeskov told reporters at a financial forum on Thursday. Russia's blocking of assets was a countermeasure, he said, and while Moscow does not expect its funds to be released, it would be inadvisable to liberate any funds and securities held in Russia. "It is too early to talk about this," Chebeskov said. Chebeskov was repeating Moscow's known position, but as high-level Russia-U.S. talks take place, markets and investors are on the lookout for any indication as to how Russia might approach negotiations. In late 2022, the central bank estimated there were around 280 billion roubles ($3.23 billion) in type-C accounts, but Russia has since said the volume is comparable to the amount of Russian assets frozen abroad. Moscow has acknowledged that it cannot match the West's sovereign asset seizure and must target private capital instead. Sergei Shvetsov, head of the Moscow Exchange's supervisory board, said the removal of sanctions on Russia's financial infrastructure should be part of any negotiations with Western countries and proposed that foreigners' funds be released by allowing them to invest in Russian market securities. The U.S. Treasury, when imposing sanctions on Moscow Exchange ( opens new tab and its clearing agent, the National Clearing Centre (NCC), in June 2024, said it was "targeting the architecture of Russia's financial system". Russia is asking companies to propose which sanctions Moscow should seek to have lifted ahead of talks with Washington, two Russian business people told Reuters, identifying curbs that hamper cross-border payment flows as the most painful. Shvetsov said Russia must not grant foreigners free access to the Russian market without sanctions easing or its financial market sovereignty would be at risk. ($1 = 86.6955 roubles)
