Latest news with #Sberbank
Arabian Post
3 days 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.
Reuters
16-05-2025
- Business
- Reuters
Russian court orders recovery of around $185 million from Euroclear, Vedomosti reports
MOSCOW, May 16 (Reuters) - A Russian court has ordered the recovery of almost 15 billion roubles ($185 million) from Belgium's Euroclear in a lawsuit filed by First Asset Management, formerly a division of Russia's largest lender Sberbank, the Vedomosti daily reported on Friday. International sanctions against Moscow over the Ukraine conflict have blocked many Russian investors' access to securities held in jurisdictions outside the country, while Russian countermeasures have frozen Western funds within. Russian court filings showed that First Asset Management's lawsuit had been partially satisfied. Euroclear declined to comment. First Asset Management did not respond to a request for comment. Vedomosti said the court had ordered the recovery of around 15 billion roubles in various currencies, including $161.5 million, 19.9 million euros and smaller amounts in British pounds, Australian dollars, Canadian dollars and Swiss francs. The plaintiff's previous effort to recover around 165 billion roubles from Euroclear was rebuffed by a previous court decision, the RIA news agency reported in April. ($1 = 80.6955 roubles)
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Business Standard
13-05-2025
- Business
- Business Standard
India approves three Russian insurers for marine cover till February 2026
India has approved three Russian insurers, including a unit of top lender Sberbank, to provide marine cover to ships arriving at Indian ports, a government notification shows, helping Moscow maintain oil supplies to a key market. India is the top buyer of Russian seaborne oil after China since Western nations shunned purchases and imposed sanctions on Moscow for its military action in Ukraine. With the granting of the permits to Sberbank Insurance, Ugoria Insurance Group and ASTK Insurance Company, India now recognises eight Russian entities that are eligible to provide protection and indemnity (P&I) coverage for ships. The permits for Sberbank Insurance, Ugoria and ASTK are valid until February 20, 2026, the order showed. Reuters last month reported that the three entities were seeking approval from the Indian shipping regulator to provide P&I cover. Insurance is essential for maritime transport, particularly oil cargoes that require the highest safety standards due to the risk of spills. Russian entities are not a part of the International Group of P&I Clubs, which provides liability cover for personal injury or environmental clean-up claims for the majority of the world's tankers. Growing scrutiny of Russia's oil supply chain by the United States and the European Union, including compliance with a price cap set by the Group of Seven democracies for the use of Western ships and insurance, has made it increasingly difficult for Moscow to export its oil. To navigate the restriction, Indian refiners buy Russian oil on delivered basis, with sellers providing vessels and insurance. India's oil secretary said in February that it only wanted to buy Russian oil supplied by companies and ships that have not been subject to US sanctions.
Hindustan Times
13-05-2025
- Business
- Hindustan Times
India approves Russian insurers to provide marine cover to oil bearing ships
India has approved three Russian insurers, including a unit of top lender Sberbank, to provide marine cover to ships arriving at Indian ports, a government notification shows, helping Moscow maintain oil supplies to a key market. India is the top buyer of Russian seaborne oil after China since Western nations shunned purchases and imposed sanctions on Moscow for its military action in Ukraine. Also Read: Russian woman refuses to leave India despite tensions: 'I am home right now' With the granting of the permits to Sberbank Insurance, Ugoria Insurance Group and ASTK Insurance Company, India now recognises eight Russian entities that are eligible to provide protection and indemnity (P&I) coverage for ships. The permits for Sberbank Insurance, Ugoria and ASTK are valid until February 20, 2026, the order showed. Reuters last month reported that the three entities were seeking approval from the Indian shipping regulator to provide P&I cover. Also Read: Trump lauded India-Pakistan ceasefire, but remains 'frustrated' with Ukraine-Russia deal Insurance is essential for maritime transport, particularly oil cargoes that require the highest safety standards due to the risk of spills. Russian entities are not a part of the International Group of P&I Clubs, which provides liability cover for personal injury or environmental clean-up claims for the majority of the world's tankers. Also Read: Russia responsible for Malaysian airliner MH17 crash in Ukraine in 2014, says UN aviation agency Growing scrutiny of Russia's oil supply chain by the United States and the European Union, including compliance with a price cap set by the Group of Seven democracies for the use of Western ships and insurance, has made it increasingly difficult for Moscow to export its oil. To navigate the restriction, Indian refiners buy Russian oil on delivered basis, with sellers providing vessels and insurance. India's oil secretary said in February that it only wanted to buy Russian oil supplied by companies and ships that have not been subject to U.S. sanctions.
Time of India
13-05-2025
- Business
- Time of India
India gives approval to Russia's Sberbank, other insurers for marine cover at its ports
India has given its approval to three Russian insurers , including a unit of top lender Sberbank , to provide marine cover to ships arriving at Indian ports, according to a government notification. India is the top buyer of Russian seaborne oil after China since Western nations shunned purchases and imposed sanctions on Moscow for its military action in Ukraine. Russia is the top oil supplier to India for a third straight year in 2024-25 as New Delhi benefited on cheap supply after Western nations imposed sanctions on Moscow and curtailed their energy purchases in response to Russia's invasion of Ukraine. Play Video Play Skip Backward Skip Forward Mute Current Time 0:00 / Duration 0:00 Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions and subtitles off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play this game for 3 minutes, if you own a mouse India has already approved five insurers from Russia, which has no insurance firms in the International Group of P&I Clubs, which provides liability cover for personal injury or environmental clean-up claims for the majority of the world's tankers. (with Reuters inputs) Live Events
