Category: Ukraine War
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Ukraine War: EU Adopts 9th Package Of Sanctions!
In response to Russia’s continuing war of aggression against Ukraine and the gravity of the current escalation against civilians and civilian infrastructure, the EU Council adopted a 9th package of new measures intended to step up pressure on Russia and its government. The 9th package imposes new export controls and restrictions on dual-use goods and technology as well as goods and technology that can contribute to the technological enhancement of Russia’s defence and security sector.
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The EU Crypto Ban On Russians And Some Of The Top Crypto Payment Processors Affected!
The EU has announced an adaptation of the existing sanctions package against Russia. Among other things, this provides for a complete ban on crypto services for Russian companies, citizens, or residents. This ban will probably be critical for licensed or unlicensed Estonian crypto payment processors. We have repeatedly pointed out that FIU-licensed Estonian and some Lithuanian crypto platforms apparently do a significant part of their business with Russian merchants and consumers.
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Breaking: EU Imposes Full Crypto Ban On Russia And Its People!
The Council of the EU has today agreed to implement a full ban on the provision of crypto services to Russian persons and residents as part of the Western’s new sanctions package against Russia following its most recent annexation of Donetsk, Luhansk, Zaporizhzhia, and Kherson regions in Ukraine. In a statement, the Council of the EU announced it would implement a “full ban on the provision of crypto-asset wallet, account or custody services to Russian persons and residents, regardless of the total value of those crypto-assets.”
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Recession Fears Explode Among CEOs And Top Executives!
The Conference Board issued a special C-Suite Outlook midyear survey of 750 CEOs and other C-suite executives. The survey focused on the impacts of the Ukraine War conflict on the global business environment. More than 60% of the survey participants expect a recession in their geographic region in the next 12 to 18 months. An additional 15% think the region of the world where their company operates is already in a recession. The war’s impact appears far-reaching.
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Chasing Russian oligarchs and their assets! A CIA Report and the Austrian Connection!
It's not easy to be a Russian oligarch at this time. According to a New York Times report, some Russian oligarchs have used Concord Management LLC, a financial advisory company in Tarrytown, New York, to secretly invest money in large US hedge funds and private equity firms. Allegedly, the bulk of the funds belonged to Roman Abramovich, a close ally of Russian President Vladimir Putin. Concord and its founder, Michael Matlin, said it oversaw between $4 billion and $8 billion.
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The Blackrock CEO, the end of the world as we know it, and the rise of digital currency and green technology!
Larry Fink, the CEO of Blackrock, the world's largest asset manager with $10,000 billion in assets, shows dismay about the Ukraine War in his traditional letter to shareholders. He even sees the end of globalization. "Russia’s brutal attack on Ukraine has upended the world order that had been in place since the end of the Cold War" the Blackrock CEO noted. He said Russia's inclusion in the global financial system had provided a peace dividend. That, he said, is now over. The impact of the Ukraine War will be felt for decades to come in ways we can’t yet predict.
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Interesting analysis! The Russian invasion of corporate Europe!
According to an Italian report, almost 44,000 Russian individuals are beneficial owners of companies registered in the European Union, in the United Kingdom, and in Switzerland. The highest number can be observed in the Czech Republic, followed by the United Kingdom, Latvia, Germany, Bulgaria, and Cyprus. More than 10,000 Russians own firms registered in the area of Prague, and more than 3,000 in the province of Riga, Latvia’s capital. In terms of corporate value owned by Russian oligarchs, Cyprus is the #1 in Europe!
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Whistleblower Program! The U.S. Government continues to hunt oligarchs and their stolen assets!
The Ukraine invasion already developed into a global war. At least on an economic level. U.S. officials started to label Russian oligarchs as kleptocrats. The U.S. Government announced the multilateral taskforce KleptoCapture, FinTelegram reported. As part of the effort to go after the allegedly stolen assets of the Russian oligarchs a/k/a kleptocrats, the U.S. Treasury also launched the Kleptocracy Asset Recovery Rewards Program (KARP), under which whistleblowers are rewarded with up to $5 million.
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Arnold Schwarzenegger sends his message to the Russian People!
The former Californian governor and Terminator action hero Arnold Schwarzenegger is known for his action films in which violence takes up a considerable part of the dramaturgy. He is more of a peace-loving, cigar-smoking man in his private life. And like most people inside and outside Russia, he is against the war in Ukraine. In a video message, he addresses the Russian people directly. Vladimir Putin will not like the message! However, it seems essential to let the Russian people know how the rest of the world sees the Ukraine War.
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Thank you! EU Parliament demands a ban on Golden Passport schemes!
On 9 March 2022, the EU Parliament has voted overwhelmingly to end the practice of EU countries selling "citizenship by investment" (CBI). It comes in the wake of Russia's invasion of Ukraine with many wealthy Russians having received EU passports in exchange for significant investments (and payments to local officials and politicians). Members of the European Parliament in Strasbourg on Wednesday voted 595 for, 12 against and with 74 abstentions to end the so-called ‘golden passport'
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Western sanctions against Russia don’t bother their high-risk payment segment!
As is well known, the Western Allies have largely excluded Russia from SWIFT. In addition, Visa and MasterCard have also blocked services for Russian companies. Theoretically, the numerous Russian payment processors in the high-risk and cybercrime segment should no longer work. Many Russian payment processors operate via licensed Estonian crypto payment processors such as Volrix OÜ d/b/a SafeCurrency or Fincana OÜ d/b/a Payeer.