The ruble slid to a new record low of 39.71 against the dollar Tuesday. The Russian Central Bank has been quick to quash fears it would re-introduce capital controls to limit the amount of foreign currency purchases, or even moved outside the country.
VTB, Russia's second-largest bank, has responded to Ukraine’s doubt as to the legality of the bank’s role in a $3 billion bond purchase last December to help Kiev’s ailing economy. Such claims are "baseless" the bank said in a statement on Friday.
A whistleblower of HSBC fraud has denounced the bank’s chairman, Douglas Flint, as “an extraordinary hypocrite” following the financier’s suggestion that those who expose crime in Britain’s financial services sector should be rewarded and celebrated.
Thousands of Americans living overseas continue to give up their citizenship as foreign banks turn them away over the burden of completing increasingly expensive and complicated tax returns required by a controversial new tax law.
HSBC has officially closed the bank account of one of Britain’s oldest mosques, in an effort to minimize its risk. The mosque’s chairman said the banks’ action was discriminatory and Islamophobic. Meanwhile, they have opened an account with a new bank.
It was the West that armed and financed ISIS and it is “outrageous” to blame Muslims for supporting extremists and close their bank accounts when they’ve done nothing wrong, Massoud Shadjareh from the Islamic Human Rights Commission, told RT.
Whatever Russia does, doubt does not even enter the equation. The answer is sanctions. So here we go again. The US Treasury-EU latest sanction package targets Russian banking, the energy industry and the defense industry.