By Jamie Freed and Alexander Cornwell (Reuters) -Lessors are set to terminate hundreds of aircraft leases with Russian airlines following Western sanctions over the invasion of Ukraine that require the contracts be cancelled. Asian lessor BOC Aviation said on Monday that most of its aircraft in Russia would be affected by European Union sanctions that…
By Carolyn Cohn and Saeed Azhar LONDON (Reuters) – British bank HSBC is beginning to wind down relations with a host of Russian banks including the second-largest, VTB, according to a memo seen by Reuters, as financial institutions start to implement restrictions on Russia. The United States, Britain, Europe and Canada announced new sanctions on…
By Tom Sims and Alexandra Schwarz-Goerlich FRANKFURT (Reuters) -The European Central Bank on Monday warned that Sberbank Europe, a subsidiary of Russia’s Sberbank, and two other subsidiaries under its watch “are failing or likely to fail”, in an indication of the fallout of the latest sanctions on Russia. The ECB said it was “owing to…
MOSCOW (Reuters) – Russia’s dominant lender Sberbank on Monday said it had opened an additional reserve line for its subsidiary banks in Belarus and Kazakhstan, as it grapples with sanctions and the fallout from Russia’s invasion of Ukraine. Sberbank said it would support its subsidiaries in Belarus and Kazakhstan. (Reporting by Reuters, Editing by Louise…
TOKYO (Reuters) -Panasonic Corp said on Monday it will begin mass production of a new lithium-ion battery for Tesla Inc before the end of March at a plant in Japan. Unveiled by the Japanese company in October, the 4680 format (46 millimetres wide and 80 millimetres tall) battery is around five times bigger than those…
(Reuters) – The Russian central bank raised its key interest rate to 20% from 9.5% on Monday in an emergency move, and authorities told export-focused companies to sell foreign currency as the rouble tumbled to record lows. “External conditions for the Russian economy have drastically changed,” the central bank said in a statement. “The increase…
MOSCOW (AP) — Ordinary Russians faced the prospect of higher prices and crimped foreign travel as Western sanctions over the invasion of Ukraine sent the ruble plummeting, leading uneasy depositors to line up at banks and ATMs on Monday in a country that has seen more than one currency disaster in the post-Soviet era. The…
SINGAPORE (Reuters) – Commodities trader Olam International is focused on completing the IPO of its food ingredients unit in the second quarter but it is also tracking market movements to see the potential impact on the timing, executives said on Monday. Singapore-based Olam in August announced plans for Olam Food Ingredients (OFI) to pursue a…
Europe and Canada said Sunday they would close their airspace to Russian airlines after Russia’s invasion of Ukraine, raising the pressure on the United States to do the same. European Commission President Ursula von der Leyen said the European Union would shut down its airspace for planes owned, registered or controlled by Russians, “including the…
SEOUL (Reuters) – South Korea will tighten export controls against Russia, by banning exports of strategic items, and join Western countries’ moves to block some Russian banks from the SWIFT international payments system, Seoul’s foreign ministry said on Monday. The Korean government has also decided to promote the additional release of strategic oil reserves for…
