Moscow court awards Rosbank $12mn from Citi
A Moscow court has awarded HKD95mn ($12mn) in damages to Russian Robank from US lender Citi and its Hong Kong affiliates, Reuters reports citing the court documents. Rosbank first asked the court for damages in July 2023, according to Reuters, requesting interim asset seizures, concerned that Citi's efforts to fully exit Russia will affect its assets.
Rosbank Insurance of Rosbank also reportedly sued Belgium and Luxembourg-based depositories Euroclear and Clearstream for RUB834mn ($8mn) in the Moscow Arbitration Court. The substance of the claims has not been disclosed.
Rosbank is the former Russian branch of Societe Generale bought out by sanctioned oligarch Vladimir Potanin as he rebuilt his banking empire after Russia's full-scale military invasion of Ukraine.
The British government has announced the imposition of sanctions against a new group of individuals suspected of supporting the "Russian military machine". The list includes 46 individuals and legal ... more
Russia’s third largest bank Gazprombank, affiliated with the natural gas giant Gazprom, will ramp up the commission fee for handling US dollars on its corporate accounts to 12%, according to ... more
Ukraine’s government is preparing a Plan B to fund its operations in case international funding dries up in 2024, UBN reported on December 1.
Ukrainian President Volodymyr Zelenskiy signed ... more
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