Tag payment

Russia to Pay Foreign Debt in Rubles, Top Official Said


The OFAC license, which allowed transactions necessary to receive payments on debt obligations of the Ministry of Finance of the Russian Federation and the Bank of Russia for a period up to May 25, will not be extended.  The license, which allowed servicing the sovereign dollar debt attracted until March 1, 2022, was issued almost

Austria Can’t Stop Payments for Russian Gas


Austria cannot simply stop paying for Russian gas, this requires an appropriate legal basis, and now there is none, according to the Head of the OMV Austrian oil company that is the largest one in Central Europe, Alfred Stern. He added that industrial enterprises and energy producers consume more than 70 per cent of the

Hungary Agreed to Pay for Russian Gas and Oil in Rubles


Hungarian Foreign Minister, Peter Szijjarto, confirmed to CNN that his country will use the payment scheme introduced by Russia for Russian oil and gas.  “85 per cent of our gas and 65 per cent of our oil come from Russia. Why? Because it is determined by the infrastructure. This is not for entertainment, we did

Economics | Business  | 21.04.22

Russia to Keep Confidential SWIFT Alternative System Members’ Data


The Central Bank of Russia announced on Tuesday, April 19, that it will stop disclosing the identity of participants in the Financial Message Transmission System (SPFS), the country’s alternative to SWIFT.   “Under the current circumstances, we decided not to disclose on the website [of the Central Bank of Russia] the list of companies connected to

Economics | Business  | 18.04.22

Over 50 Foreign Organizations Joined Russia’s SWIFT Equivalent


More than 50 foreign organizations have already joined the Russian Financial Message Transmission System, an analogue of SWIFT, as stated by the Central Bank Chairman Elvira Nabiullina.  “Currently, 52 foreign organizations from 12 countries are users of the SPFS [Financial Message Transmission System],” she said. Today, more than 11 thousand participants in all countries of

Economics | Business  | 16.02.22

First Transfers in Digital Rubles Made in Russia


The Bank of Russia and market participants have started testing the digital ruble platform. The issuer and operator is the Central Bank, while customers open wallets and conduct transactions on them through financial organizations. The uniqueness of the digital ruble lies in the ability to access the digital wallet through the mobile application of any

Economics | Business  | 01.02.22

Sberbank Launched Money Transfers to China via Mobile Phone


Sberbank, together with Alipay and Western Union, launched money transfers to China by mobile phone number. To do this, you need to enter the phone number and full name of a recipient in Sberbank Online. The money will be automatically credited to the Alipay wallet in Chinese yuan.  According to Kirill Tsarev, the Deputy Chairman

Insight | Around Russia  | 17.11.21

Russian Government to Expand Men’s Rights for Maternity Capital


The relevant commission of the Government of the Russian Federation approved a bill that gives the right for maternity capital to men raising children from surrogate mothers. According to Kommersant, in the near future, the Cabinet of Ministers will make appropriate amendments to the law for consideration by the State Duma.  According to the bill,

Moscow | Insight  | 15.10.21

Moscow Metro Launched Face Pay System at All Stations


The Face Pay service for paying for travel using face recognition has been launched on October 15 on all lines and stations of the Moscow metro, according to the city’s Deputy Mayor for Transport Maxim Liksutov.  “On behalf of the Mayor of Moscow, we are launching Face Pay – paying for travel using face recognition.

Insight | Technology | Around Russia  | 04.10.21

Makhachkala Introduced Non-Cash Fare Payment in Minibuses


Cashless payment for travel has been introduced in 16 fixed-route taxis of Makhachkala. The system is planned to be implemented on all city routes, according to the press service of the city administration.   In Makhachkala, a presentation of a pilot project on the introduction of an automated fare payment system for passengers on route No.

Economics | Business  | 02.08.21

Russian Authorities Provide Active Support to Families With Children


From August 2, 2021, citizens of the Russian Federation can receive a lump sum payment of 10 thousand rubles for a school-age child (from 6 to 18 years old), TASS reports.   In addition to these payments, the Russian authorities actively support families living in the country by means of many other cash benefits. Thus, women

Economics | Business  | 08.07.21

Russians Started Making Bigger Payments for Mortgages


Almost a quarter of mortgage borrowers in Russia increased their monthly loan payments during the pandemic. In particular, half of them began to pay 20-30 per cent more, RIA Novosti reports referring to the results of a study conducted by the Online-Ipoteka mortgage supermarket.  “About 23 per cent of mortgage borrowers during the pandemic voluntarily