Featured Russia

In 2018 Audit, Deutsche Bank Saw High Risk of Ties to Russian Money Laundering

Deutsche Bank “very likely” processed illicit transactions linked to a massive Russian money laundering network that the lender was unaware of until media reports of it surfaced, a leaked audit report concluded last year. The “strictly confidential” report by the bank’s supervisory board audit committee determined that the institution’s… Read More

Turkey eyes US sanctions waivers on Iran oil, Russia arms

AP — Turkey “expects” the Trump administration to grant it waivers from U.S. sanctions related to its purchases of Iranian oil and Russian air defenses, a top aide to Turkish President Recep Tayyip Erdogan said Tuesday. Presidential spokesman and senior adviser Ibrahim Kalin told a news conference he couldn’t be… Read More

Russia needs another $10 bln on banking sector clean-up – Fitch

Russia may need to spend another $10 billion in the next two or three years to continue a banking sector clean-up, which has already required eight times as much, Fitch rating agency said on Tuesday. Russia started cleaning up its banking sector in 2013 after President Vladimir Putin appointed Elvira… Read More
16th April 2019
Rusal is making its first investment in the United States since Washington lifted sanctions against the Russian aluminum giant, teaming up with U.S. manufacturer Braidy Industries to build a mill in Kentucky. Rusal, the world’s largest aluminum producer outside China, announced the deal in one of the main markets for… Read More
15th April 2019
European lawmakers are urging financial institutions and governments to address dozens of legal and supervisory shortcomings they say contributed to the proliferation of massive money laundering schemes in recent years. In a resolution adopted Thursday, the Council of Europe’s Parliamentary Assembly said that recent money laundering schemes linked to… Read More
14th April 2019
Royal Dutch Shell pulled out of a project to build a Russian liquefied natural gas plant partly because Gazprom suddenly added another partner with links to an ally of President Vladimir Putin, according to five sources. After three years work on the Baltic Coast project, Shell discovered that Gazprom was… Read More
10th April 2019
AP — A former North Carolina congressman says he had begun selling shares in a Russian bank before it lost its license. Last week, Russia’s central bank accused Commercial Bank of Ivanovo of breaching anti-money laundering rules by providing incomplete or unreliable transaction information. Central bank records on Friday showed… Read More
8th April 2019
The family of an American killed when a Malaysian Airlines plane was shot down over Ukraine in 2014 filed a lawsuit on Thursday against U.S.-based money transfer companies and two Russian banks they accuse of providing services to the group they blame for striking Flight MH17. MH17 was brought down… Read More
4th April 2019
U.S. Republican and Democratic senators will introduce legislation on Wednesday seeking to deter Russia from meddling in U.S. elections by threatening stiff sanctions on its banking, energy and defense industries and sovereign debt. Known as the “Deter Act,” the legislation is the latest effort by U.S. lawmakers to ratchet up… Read More
1st April 2019
A firm hired by the U.S. Treasury Department is auditing Russian aluminum giant Rusal to check whether it is complying with the terms of a deal under which Washington agreed to lift sanctions on the company, Rusal said. The audit is the first glimpse of how Treasury is policing whether… Read More
29th March 2019
The United States has instructed oil trading houses and refiners around the world to further cut dealings with Venezuela or face sanctions themselves, even if the trades are not prohibited by published U.S. sanctions, three sources familiar with the matter said. The move comes as Washington’s efforts to oust President… Read More
27th March 2019
Kazakhstan’s BTA Bank JSC has filed a lawsuit accusing a New York real estate developer of helping to launder tens of millions of dollars through a Trump-branded property and other U.S. businesses. The complaint, filed Monday in the Southern District of New York, alleges that wealthy Kazakh businessman Ilyas Khrapunov… Read More
22nd March 2019
A French judge placed Russian tycoon Suleiman Kerimov back under formal investigation on suspicion of complicity in aggravated tax fraud, the prosecutor in the southern city of Nice said on Wednesday. French investigators allege that Kerimov, whose family controls Russia’s largest gold producer Polyus, deceived the tax man over the… Read More