Although Russia reportedly made an interest payment to its bondholders to avoid a default last week, it is still facing a high risk of it in the following deadlines amid international sanctions for the country s ongoing aggression on Ukraine.
After Visa and Mastercard said they would cut their services in Russia over the invasion of Ukraine, banks in Russia are looking into issuing cards that operate on a Chinese payment system.
Banks and other financial institutions here will be banned from doing business with four Russian banks, as part of sanctions the Republic is imposing to hit the Russian economy for the invasion of Ukraine.
Update:Shortly after a joint statement from the United States and other leaders announced they were removing "select" Russian banks from SWIFT, an "Explainer" report from Reuters was published, referring to the