Category: World

Banks in the UK, Turkey, UAE, Hungary and Thailand are cutting back on their cooperation with Russia following new US sanctions. Banks stop servicing Gazprombank's UnionPay cards.

Banks in the UK, Turkey, the UAE, Hungary, and Thailand are cutting back on their cooperation with Russia after the latest package of US sanctions against Gazprombank, UNN reports, citing Reuters and the Russian media.

Details

British bank HSBC, the country's largest by assets, has stopped processing all payments from Russia and Belarus for its personal banking customers, the bank said on Friday. In a statement posted on the British bank's website, the lender “has decided to stop processing payments” from the two countries and to take alternative measures for any such transaction.

RosMedia reports that Turkish banks have stopped servicing UnionPay bank cards issued by Russia's Gazprombank, as have UAE banks.

OTP Bank in Hungary has also reportedly stopped servicing Gazprombank's UnionPay cards. Similarly, banks in Thailand have stopped servicing UnionPay cards issued by Gazprombank.

AddendumAddendum

On Friday, Washington imposed new sanctions on Russia's Gazprombank, preventing the state-controlled lender from processing any new energy-related transactions that affect the US financial system.

The United States imposes sanctions on Gazprombank and the leadership of the Russian central bank. Zelensky thankedNov 21 2024, 05:57 PM • 34498 views

Polish Foreign Minister Radosław Sikorski has condemned Russia's launch of a new experimental ballistic missile on Ukraine, describing the attack as "an act of desperation".

Source: Sikorski in an interview with the Voice of America, as reported by European Pravda

Details: Sikorski was asked whether he considered the recent Russian strike on Dnipro, which involved a new ballistic missile, as an escalation in the war.

In response, the Polish foreign minister said, "there's a lot of noise, as you know, as to what exactly hit Ukraine".

"Russia has been using ballistic missiles throughout this war, but this is alleged to have been an intercontinental ballistic missile – which normally has a different use, which, if it is the case, is on the one hand an escalation and a signal, but on the other hand also an act of desperation that Putin is unable to win in this war," he said.

Sikorski added that he is currently observing the Russian economy experiencing "real stress". He also noted reports of desertions among Russian soldiers, emphasising that "inviting mercenaries from North Korea is not exactly a sign of strength".

Background:

• Kremlin ruler Vladimir Putin stated that Russian forces had used an Oreshnik medium-range missile during the morning attack on Dnipro on 21 November.
• The Pentagon explained that Russia had launched an experimental intermediate-range ballistic missile, based on the RS-26 Rubezh intercontinental ballistic missile, on Dnipro.
• Earlier, Polish Prime Minister Donald Tusk stressed that "the events of the last few dozen hours" point to a "real threat of global conflict".

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Judge Juan Merchant postponed the sentencing of Donald Trump indefinitely. Trump's lawyers were given until December 2 to justify the request to dismiss the case.

The sentencing of US President-elect Donald Trump in the hush money case has been postponed indefinitely. Judge Juan Merchant decided to postpone the trial, giving Trump's lawyers time to justify the request to close the case, UNN reports citing Politico.

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The sentencing of Donald Trump in the hush money case has been postponed indefinitely by a Manhattan court. This decision was made on Friday by Judge Juan Merchant, who is presiding over the trial. This was another legal victory for the newly elected US president on his way to returning to the White House, the publication points out.

Judge Merchant postponed the sentencing date, originally scheduled for November 26, to consider a request from Trump's lawyers to dismiss the case. They argue that their client, as the president-elect, should avoid legal obstacles that could interfere with his duties. The lawyers have until December 2 to submit their arguments, while Manhattan District Attorney Alvin Bragg has until December 9 to respond.

Prosecutors object to the dismissal of the case, but agree that the sentence may have to be postponed until the end of Trump's presidential term in January 2029. Trump's lawyers say that even so, the sentencing is unacceptable because the threat of punishment makes it difficult for him to fulfill his presidential duties.

Recall

In May, Trump was found guilty on 34 counts of falsifying business records related to the payment of money to porn star Stormy Daniels to cover up the scandal. The verdict was originally scheduled to be announced in the summer, but Trump twice had it postponed. After winning the election, experts suggested that the sentencing would likely be postponed until the end of his presidential term.

Moldovan Energy Minister Victor Parlicov has announced that his trip to St Petersburg for talks on Russian gas supplies to Transnistria is scheduled for 25 November. [Transnistria is a Russian-backed breakaway quasi-state, which is internationally recognised as the territory of Moldova]

Source: Moldovan news outlet NewsMaker, as reported by European Pravda

Details: Parlicov, commenting on his visit to St Petersburg, Russia, scheduled for 25 November, said he "understands" that a visit to "Russia, which is an aggressor country, is a sensitive issue".

"But these are our options. Either you go and discuss, or you don't go and don't discuss. If you don't come and discuss, then, in my opinion, you lose the opportunity to solve the problem," Parlicov said.

He stressed that it is essential for Moldova to get clarity from Russian energy giant Gazprom on the issue of gas supplies to the Transnistrian region.

"We've drawn up 12 different scenarios of what will happen in this or that case. We'll be able to cope even with the scenario in which the transit and supply of Russian gas to the Transnistrian region is interrupted, but this is not the best scenario," the journalists quoted the Moldovan minister as saying.

Parlicov said Chișinău is concerned about the possibility of gas supplies being cut off after 1 January.

"Everyone knows that the Transnistrian region is completely dependent on this gas. If there's no more of this de facto free supply, the region won't be able to function. And there are our citizens there. And the social and economic collapse of the region, which is home to weapons, the Russian military, and ammunition, creates much greater security risks at the regional level," he said.

Therefore, he noted that the country is "interested in and in favour of maintaining gas supplies to the Transnistrian region, at least during this period, to maintain calm".

"No one wants to destabilise the situation," the Moldovan minister explained.

He said the Moldovan delegation at the talks intends to "understand whether Gazprom will fulfil its contractual obligations to supply gas to the Transnistrian region, even if there is no transit through Ukraine".

"If not, it's another thing. We need clarity on this issue as soon as possible to prepare for a scenario in which supplies are cut off. If this happens, it will be hard for us all," added Parlicov.

Background:

• Moldova refused to purchase Russian gas after the Kremlin launched the full-scale invasion of Ukraine, instead buying it on the European market. However, Gazprom continues to supply gas to Transnistria, which provides Moldova with most of its electricity.
• In the summer of 2023, the Moldovan government prepared three scenarios for the heating season, one of which allowed for the resumption of purchases from Gazprom for the needs of the country, excluding Transnistria.
• In early October 2024, Ukrainian Prime Minister Denys Shmyhal confirmed that Kyiv was not considering extending the transit agreement with Russia's Gazprom after the current deal expires in 2024.
• Parlicov later met with his Ukrainian counterpart, Herman Halushchenko, during a visit to Kyiv, where they discussed energy cooperation and the security of Moldova's natural gas reserves in Ukraine.

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New US sanctions against Gazprombank could make it impossible for the EU to pay for Russian gas until the end of 2024. The sanctions include a wind-down period until December 20 and restrict energy transactions through the US financial system.

New US sanctions against Moscow could close the only way for European buyers to pay for Russian gas, increase volatility in the Russian currency market and bring the Kremlin closer to Beijing, Reuters reports UNN.

On Thursday, Washington imposed new sanctions on Russia's Gazprombank, which prevent the state-controlled lender from conducting any new energy-related transactions that affect the US financial system. About 50 other Russian banks and the system of financial messaging of the Bank of Russia were also sanctioned.

Hungary and Slovakia, which have long-term contracts with Russia's Gazprom, are studying the changes, Reuters reports.

Russian Deputy Energy Minister Pavel Sorokin declined to comment when asked whether Gazprombank would continue to receive payments from European customers.

“EU payments for energy resources through Gazprombank are likely to become impossible at the end of 2024,” analysts at Sinara Investment Bank believe.

The sanctions provide for a period of curtailment of operations involving Gazprombank until December 20, and operations related to the Sakhalin-2 oil and gas project in the far east of Russia until June 28, 2025.

The Kremlin said on Friday that the sanctions are an attempt by Washington to prevent Russian gas exports, but that a solution will be found. Gazprombank said the sanctions will not affect its banking operations, but did not answer questions about the decision on gas payments.

In March 2022, Moscow demanded that countries hostile to Russia pay for gas supplies under a scheme that would convert their currencies into rubles. Buyers could open two accounts at Gazprombank, one in rubles and one in foreign currency.

The US has allowed a dozen Russian financial institutions to conduct energy-related transactions, with some exceptions, until April 30, 2025. Some analysts believe that Gazprombank may be added to this list.

EU foreign ministers in Warsaw: Strengthening support for Ukraine and sanctions against russia remain prioritiesNov 19 2024, 09:14 PM • 50608 views

Russian forces have injured another five people in their attacks on Kherson Oblast.

Source: Kherson Oblast Military Administration

Details: The Russians targeted residential areas in the oblast, damaging nine houses. They also destroyed a warehouse, a garage, a trolleybus and cars.

The settlements of Antonivka, Sadove, Rozlyv, Komyshany, Sofiivka, Stanislav, Tomyna Balka, Shyroka Balka, Bilozerka, Kizomys, Beryslav, Kachkarivka, Osokorivka, Tiahynka, Odradokamianka, Kozatske and Kherson came under Russian fire and airstrikes over the past day.

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The President of Kazakhstan has ordered urgent measures to be taken to protect the country's civilian and military infrastructure. The decision was made against the backdrop of the escalating war in Ukraine and on the eve of Putin's visit.

President of Kazakhstan, an ally of Russia, Kassym-Jomart Tokayev ordered on Friday to take "urgent measures" to protect his country's civilian and military infrastructure. UNN reports with reference to Lemonde.

President Kassym-Jomart Tokayev instructed the Prime Minister, the Presidential Administration, the heads of all security agencies (army, special services, police, prosecutors) and local leaders to take urgent measures to protect key civilian and military facilities in connection with the escalation of the situation around Ukraine

– Presidential Spokesperson Barack Obama wrote on Facebook.

He recalled that Kazakhstan regularly calls on Moscow and Kyiv to negotiate to end the war "between the two Slavic peoples.

On Wednesday, Vladimir Putin is to visit Kazakhstan. Astana is in a balancing act with regard to the war in Ukraine, supporting Ukraine's territorial integrity and strengthening its ties with the West, but not openly condemning the Russian invasion.

“Russia is militarily invincible": Kazakh President supports China and Brazil's peace planSep 16 2024, 01:36 PM • 49532 views

High interest rates in Russian banks have forced Russian companies to look for money in neighbouring countries. Sberbank, a Russian majority state-owned banking and financial services company, has offered Russian companies the opportunity to take out loans in Belarus, where its subsidiary bank operates.

Source: The Moscow Times

Details: The newspaper notes that the refinancing rate in Belarus is only 9.5%, and the average interest rate on corporate loans in Belarusian roubles rose to 10.27% per year from August to September.

Short-term loan rates for small and medium-sized businesses in Russia are approaching 30% annually.

The scale of Russian banks' subsidiaries in Belarus is smaller, as is the size of loans. The lending market in Belarus is 40 times smaller than in Russia.

At the same time, the publication writes that the Russian Central Bank has warned that companies should consider currency risk and exchange rate fluctuations when taking out foreign currency loans.

The lack of affordable loans in Russia could lead to the collapse of industries.

Background: The average maximum deposit rate at the top ten retail banks in Russia rose by 0.74 percentage points to 20.91% in the first ten days of November, the highest since 2009.

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U.S. Secretary of State Anthony Blinken will visit Italy on November 23-27 to participate in the G7 ministerial meeting. He will also meet with Pope Francis at the Vatican to discuss international issues.

U.S. Secretary of State Anthony Blinken will travel to Italy this weekend to attend a meeting of G7 foreign ministers to discuss a number of issues with partners. This was reported by the US State Department , UNN reported.

Details

Secretary of State Anthony Blinken will visit Anagni, Fujairah, and the Vatican on November 23-27. In Anagni and Füji, the Secretary will attend the G7 Foreign Ministers' Meeting to discuss a range of issues with partners, including conflicts in the Middle East, Russia's war against Ukraine, Indo-Pacific security, and the ongoing crises in both Haiti and Sudan

– the statement said.

At the Vatican, Blinken will also meet with Pope Francis, Cardinal Parolin and Cardinal Gallagher to discuss pressing international issues, including the Middle East and Russia's aggression against Ukraine.

Recall

Ukraine's Foreign Minister Andriy Sybiga held bilateral talks in Brussels with US Secretary of State Anthony Blinken, coordinating further steps after the US presidential election and discussing further US military assistance.

Defence Intelligence of Ukraine (DIU) is aware of a document prepared in Russia forecasting the development of the military-political situation in the world until 2045, which includes a plan to divide the Ukrainian territory into three parts.

Source: Vadym Skibitskyi, Deputy Head of DIU, in an interview with Interfax-Ukraine

Quote: "The first thing is that DIU is aware of this document… I will say more, this document was prepared by the Ministry of Defence and the General Staff of the Russian Armed Forces around December last year. This document serves as the basis for long-term defence plans for a certain period – at least 10 years. Specifically, this document was developed for 2026-2035 with a perspective until 2045."

Details: Skibitskyi added that the document addresses the further development of the situation at the global and regional scale, and the threats that Russia sees for itself. He also emphasised that in order to have a powerful economic, demographic, territorial and military potential, Putin needs all of Ukraine.

Quote: "Regarding the possible division of Ukraine. Undoubtedly, Russia's strategic goal remains the complete occupation of our country…

And this scenario of further development with a possible division of the territory is relevant, not even for 2035-45. It will already be relevant in the near future, in 2026, and maybe even earlier. You have heard Putin's statements about Ukrainian territories. He is already saying that Luhansk, Donetsk, Kherson and Zaporizhzhia oblasts and Crimea are allegedly Russian territories according to their Constitution."

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