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U.S, allies cut some Russian banks off from SWIFT

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Western allies are preparing new sanctions against Russia for its military action in Ukraine, including banishing key Russia banks from the main global payments system – SWIFT.

As Russia continues its assault against Ukraine, Western leaders are hardening their economic resolve against Putin.

The U.S., Canada, Europe and Britain moved on Saturday to block some Russian banks from SWIFT, the main global payments system.

The new measures will be implemented in the coming days, and include restrictions on Russia’s central bank.

The West wants to prevent Putin from accessing $630 billion in foreign currency reserves he could use to finance his war and prop up a plunging rouble.

European Commission President Ursula Von Der Leyen said the measures prevent Russia from using its “war chest.”

”We are resolved to continue imposing massive costs on Russia, costs that will further isolate Russia from the international financial system and our economies… “

”Putin embarked on a path aiming to destroy Ukraine, but what he’s also doing, in fact, is destroying the future of his own country.”

Cutting Russian banks out of the SWIFT system deals a blow to Russian trade and makes it harder for Russian companies to do business.

SWIFT, or the “Society for Worldwide Interbank Financial Telecommunication”, is a secure messaging network that facilitates rapid cross-border payments.

It has become the principal mechanism for financing international trade.

Each year, trillions of dollars are transferred using the system.The allies on Saturday also pledged to limit the sale of citizenship via so-called golden passports used by some wealthy Russians to gain residency in Western nations

From our partner at Reuters – Flora Bradley-Watson reports

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Markets brace for pivotal week following renewed US-China trade talks

Global markets brace for US-China trade talks, earnings, and inflation data impacting investor sentiment and central bank outlook.

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Global markets brace for US-China trade talks, earnings, and inflation data impacting investor sentiment and central bank outlook.


Global markets prepare for a critical week as US–China trade talks, major earnings, and inflation data could shift investor sentiment and central bank expectations.

Kyle Rodda from Capital.com breaks down the key risks and opportunities.

#GlobalMarkets #USChinaTrade #Inflation #EarningsSeason #Investing #FederalReserve #AUD #Tesla #Netflix #MarketUpdate


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Global markets steady ahead of CPI

Global equities stay strong near record highs as investors await US CPI data to assess central bank decisions.

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Global equities stay strong near record highs as investors await US CPI data to assess central bank decisions.


Global equities remain resilient, with Wall Street, Europe, and Asia near record highs as investors eye Friday’s US CPI data to gauge central bank moves.

Market watchers note cautious optimism amid ongoing volatility.

#GlobalMarkets #CPI #WallStreet #Equities #Investing #CentralBanks #RBA #Fed #USMarkets #MarketUpdate


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US sanctions Russia’s top oil giants

US sanctions on Rosneft and Lukoil aim to pressure Moscow amid oil price surges; impact depends on enforcement.

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US sanctions on Rosneft and Lukoil aim to pressure Moscow amid oil price surges; impact depends on enforcement.


The US has imposed new sanctions on Rosneft and Lukoil, aligning with Europe to pressure Moscow amid rising oil prices and global market tensions.

Analysts warn the real impact will hinge on enforcement and international response.

#Russia #USSanctions #Rosneft #Lukoil #OilMarkets #Geopolitics #EnergyCrisis #DonaldTrump #EU #GlobalTrade #Moscow


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