Proceedings in Plastima vs Sberbank dispute resumeThe Moscow Commercial Court has resumed the hearing of Plastima's 2 million euro claim against Sberbank alongside Sberbank's lawsuit to invalidate its surety bond of the same amount.16:38 26.04.2013
Interior Ministry uncovers $340 million illegal banking schemeA preliminary investigation against a group of fraudsters who helped businesses evade taxes has been completed, the Interior Ministry reported on Thursday.13:02 25.04.2013
Austria considers extradition of Russian banker in $60 mln embezzlement caseThe Vienna State Prosecutor's Office announced on Wednesday that the possibility of extraditing Russian banker Alexander Gitelson, detained in Austria for the alleged embezzlement of nearly $60 million, will be decided by the Criminal Court of Vienna.11:16 25.04.2013
Lower House passes bill banning foreign accounts for officialsThe State Duma has approved in the third and final reading a bill prohibiting top officials, state officials, deputies and Federation Council members from holding foreign bank accounts and obligations abroad.18:39 24.04.2013
$2.9 billion claim against Mezhprombank rejectedThe Moscow Commercial Court has rejected banker Sergei Yarmolinsky's lawsuit that seeks to add his 91.829 billion ruble ($2.9 billion) claim to the list of Mezhprombank creditors.15:12 22.04.2013
Russian banker suspected of embezzling $95 mln detained in AustriaThe former owner of the Bank of East European Finance Corporation (EEFC Bank, St. Petersburg) Alexander Gitelson, who was on the international wanted list for embezzling about 3 billion rubles ($94.6 million), has been arrested at his home in Austria.12:50 19.04.2013
Lower House supports tougher control over bank stock transactionsThe State Duma Committee on Financial Markets has upheld the proposal to lower the Central Bank approved stock purchase transaction threshold from 20% to 10% for purchases which are intended to gain control of a company.10:04 19.04.2013
Ex-owner of Lithuanian Ukio Bankаs sues authorities and central bankFormer owner of Kaunas-based Ukio Bankаs Vladimir Romanov filed for damages against the state and against Lithuania's Central Bank on March 14.13:32 16.04.2013
Investbank's €2.3 million claim against airBaltic shelvedThe Moscow Commercial Court has adjourned until April 16 Investbank's €2.3 million lawsuit against the Air Baltic Corporation (airBaltic). The hearing was adjourned to give the bank time to reconsider its claim amount.19:32 09.04.2013
Finance Ministry drafts bill on foreign capital in Russian banksThe Finance Ministry has drafted a bill limiting the share of foreign investments in the charter capital of Russian banks to 50%.15:03 09.04.2013
Gazprombank boss emptied Cyprus account days before bailout – FTThe president of Gazprombank, the Russian energy giant’s banking arm, is among individuals who pulled their money from the troubled Laiki Bank just days before Cyprus agreed a “haircut deal” with international lenders.18:35 03.04.2013
Cypriot Finance Minister resigns amidst financial crisis investigationCypriot Finance Minister Michalis Sarris resigned amidst an investigation into the country's unprecedented financial collapse, Cypriot TV channels reported on Tuesday.19:34 02.04.2013
No state help to Russians affected by Cyprus crisis - officialRussian authorities plan no support measures for citizens, who might partially lose their funds deposited in crisis-stricken Cypriot banks, Russian First Deputy Prime Minister Igor Shuvalov.09:08 01.04.2013
Three-judge commission to look into Cyprus bank crisisCypriot Council of Ministers has decided that a commission comprising three former judges will look into the causes of the country's bank and economic crisis.17:45 28.03.2013
Russian account holders plan to sue Cyprus over loss of savingsSome Russian bank account holders intend to sue Cypriot authorities over the bailout decision which will strip people of a substantial part of their savings, Andreas Sofokleous, says the founder and managing partner of the Andreas Sofokleous & Co. law firm.13:01 28.03.2013
Higher tax on deposits in Cyprus is legalized theft - opinionThe proposed bailout tax on bank accounts in Cyprus is "legalized theft," which contradicts international agreements and will be contested, Yury Pyanykh, says the president of the Association of Russian Businessmen in Cyprus.15:45 25.03.2013
Tax authorities given limited access to individual bank account updatesGovernment officials have reconciled a proposal at a meeting chaired by Prime Minister Dmitry Medvedev last week to give the tax authorities access to individual bank account numbers but not to all transaction details.14:19 22.03.2013
Industrialists Union head proposes amnesty for foreign depositsBusinessman Alexander Shokhin, head of the Russian Union of Industrialists and Entrepreneurs, has proposed an amnesty for funds held by Russian nationals in foreign banks in contravention of the law.10:09 22.03.2013
Cyprus authorities agree to set up special fund to lower deposit levyCyprus will establish a special fund to raise cash for lowering the levy on deposits, a statement from the country’s government representative said on Thursday.19:29 21.03.2013
Medvedev proposes offshore zones in Russia's Far EastWith Cyprus caught in a financial crisis, Prime Minister Dmitry Medvedev has proposed creating an offshore zone in Russia's Far East.17:49 21.03.2013