Bank of Russia
Iran and Russia to link banking systems to bypass sanctions
Move follows Iran’s signing of free trade “memorandum” with Russia-led EAEU
Sanctions fear drives surge in central bank gold purchases
China, Turkey and India are largest declared buyers, while Russia probably bought big quantities
Russia and Iran discuss joint gold-backed stablecoin
Digital currency would be used for foreign trade settlements in special economic zone
The always imminent demise of the global dollar
Creating effective alternatives will remain long and arduous despite China’s development of Cips, the mCBDC bridge and any oil-price redenomination, writes Barry Eichengreen
Bank of Russia restarts open FX trading to support ruble
Ruble will trade openly against yuan as Russian dependence on Chinese markets appears to grow
Russia developing cross-border CBDC settlement
Research into two proposed models for digital ruble exports to begin in Q1
Reserve Benchmarks 2022 – presentation
Reserves specialist Victor Mendez-Barreira speaks with Chris Jeffery about staffing and salaries, the inflation challenge, Bank of Russia sanctions, green investments, asset diversification, and reserve levels and liquidity lines.
Ukraine accuses Russian governor of crimes during occupation
Security service says Nabiullina organised effort to create “ruble zone” in Russian-controlled Kherson
2022: The year in review
The invasion of Ukraine left central banks facing yet another exceptional set of challenges. Central Banking looks back at the stories that made the biggest impact this year
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
Bank of Russia eases disclosure rules on digital asset firms
Moves designed to ease sanction pressure, as Nabiullina signals use of crypto for international trade
Banknotes: October to December 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Central bank assets enjoy ‘99%’ immunity
Why central bank assets possess legal immunity – but not from sanctions
Central banks’ gold demand hits record level
Purchases in 2022 reach 673 tonnes, higher than in any full year since 1967
Bank of Russia says Putin’s mobilisation will hit demand
Kazakhstan rates rocket, while Azerbaijan central bank warns about fiscal policy
Russia’s Mir forced into retreat
Banks and payment systems across Asia banish Russian cards after US warnings
US imposes sanctions on Russian governor
Treasury says Nabiullina and other officials have facilitated Russian invasion of Ukraine
Russian central bank cuts rates again but Nabiullina warns over deficit
Higher structural deficits would force central bank to raise rates, governor says
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Bank of Russia says lenders have lost $24 billion
Central bank issues pessimistic forecast on oil earnings but says lenders are coping with sanctions
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions are unlikely to undermine the US dollar’s central role in reserve portfolios. But a relative decline in US economic weight and technological innovation are benefiting other currencies
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Former NBU governor Valeria Gontareva speaks about donor funding shortfalls, NBU policy and financial stability challenges, Nabuillina and the seizing of Russian assets, and post-conflict rebuilding and modernisation
Geostrategic risks now a major factor – CNB reserves head
Ondrej Strádal supports use of CBR reserves for reparations, is reassessing renminbi allocations and has US recession as a ‘base case’ scenario
Russian banks set to use digital ruble in 2024
Cross-border integration with “friendly countries” planned to bypass Swift