The Russian National Settlement Depository (NSD) said on Friday it suspends operations in euros due to the latest EU sanctions, calling the situation an emergency.
The European Union has expanded sanctions against Russia and added the NSD, which Moscow planned to use to service the country’s Eurobonds, to the list of sanctioned entities, an EU document showed on Friday.
Last month, Russian President Vladimir Putin said the oil sector was undergoing a “tectonic change,” but claimed Europe would be committing “economic suicide” with its sanctions on Moscow over Ukraine.
By seeking to phase out Russian energy supplies, Europe will only hurt itself, Putin said, urging state officials to use “ill-thought-out” moves by the West to the country’s advantage.
He told an energy meeting that Europe would see higher energy prices and higher inflation as a result of its actions.
Russia says Germany is risking European security by ‘remilitarizing’Russia on Friday accused Germany of throwing European security into imbalance by “remilitarizing,” as Berlin moves to boost its military spending in ... World News
How a Russian billionaire shielded assets from European sanctionsRussian businessman Andrey Melnichenko ceded ownership of two of the world’s largest coal and fertilizers companies to his wife the day before he was ... World News
Ruble hits 2015 level against euro as EU prepares to pay for gasThe Russian ruble rallied to its strongest levels against the euro and dollar since June 2015 and March 2018 respectively on Friday, which analysts ... Economy
Ten more European gas buyers open ruble accounts for paymentsTen more European gas buyers have opened accounts in Gazprombank JSC, doubling the total number of clients preparing to pay in rubles for Russian gas ... World News