` Unified Shipbuilding Corporation has struck a deal on a `Salaried Project ‘ with ` Russian Bank Rossiya ‘

#AceFinanceNews – MOSCOW, March 21. – The Unified Shipbuilding Corporation has struck a deal on a salary project with bank Rossiya, the press service of the Unified Shipbuilding Corporation told Itar-Tass on Friday.

In March 2007 Russian President Vladimir Putin ordered the government to prepare a draft decree on creating the United Shipbuilding Corporation (OSK)

The presidential administration is to participate in this work aimed at “legal registering the decisions which we had coordinated”.

The chairman of the government Michael Fradkov was personally asked to supervise staff support for these plans. On 22 March 2007 President Vladimir Putin signed decrees on the establishment of the United Shipbuilding Corporation.

Similar to the pattern laid down by aviation builders, the state run businesses will unite in the form of non-commercial partnership.

But while OAK was and remained a leader among Russian military exporters, OSK would concentrate first of all on the domestic market and civil products.

The newly established “United Industry Corporation”, State-owned Shipbuilding Group was seen as one of the main cornerstones of Russia’s future shipbuilding industry.

#AFN2014

#itar-tass, #moscow, #rossiya, #russian-president-vladimir-putin, #unified-shipbuilding-corporation-osk

` Rossiya Bank Sanctions will create problems with Currency Transaction’s being Blocked ‘ according to BDO ‘

#AceFinanceNews – Moscow – March 21. – The sanctions against the Rossiya bank, which the United States announced on Thursday, will pose certain obstacles to clients’ dollar transactions, the chief of the international auditing and consulting company BDO, Natalya Boiko, told Itar-Tass on Thursday.

US imposes sanctions on 20 Russian officials

She explained that in case of any trade transactions with foreign companies mutual settlements are performed through foreign banks’ correspondent accounts. If the trading partner is outside the country, currency transactions will be blocked.

“It is quite obvious that payments and international transactions will be frozen. The businesses of the bank’s clients and of their foreign partners who will fail to get the expected cash on time will be harmed,” Boiko said.

There may develop problems with the European partners of Rossiya’s clients, because they perform their transactions through US correspondent accounts, too.

The bank’s opportunities to service international transactions will be rather limited.

The dollar deposits of corporate clients may be harmed, too.

There may develop problems with timely payments, while foreign currency deposits of individuals will remain largely unaffected.

The Russian banking system will hardly feel anything.

Russian News Sources

#AFN2014

#bank-rossiya, #itar-tass, #moscow, #rossiya

#AceFinanceNews Moscow March 19 Transition of banks operating…

#AceFinanceNews – Moscow – March 19 – Transition of banks operating in Crimea from the payment system of the National Bank of Ukraine to that of the Central Bank of Russia will be not difficult, although Russia has had no such precedents before, former Central Bank of Russia deputy chairman Konstantin Korishchenko told Itar-Tass on Wednesday.

Transition of Crimea’s banks under control of the Russian regulator will proceed painlessly, as “the system of correspondent relations exists between banks and any payments can be carried out within this system for a rather long time,” he said, adding that there would be no difficulties with personnel training.

Moreover, the transition process would create no reasons for curtailing business of certain banks, he said. #ANS2014

#afn2014, #central-bank-of-russia, #crimea, #crimeas, #itar-tass, #moscow, #national-bank-of-ukraine, #russia, #russian

AceFinanceNews SIMFEROPOL Crimea has announced the Russian rouble…

AceFinanceNews – SIMFEROPOL – Crimea has announced the Russian rouble its official currency, which will be in circulation along with the Ukrainian Hryvnia until January 1, 2016.

Crimea will also temporarily use Ukraine’s Budget and Tax Codes pending the adoption of its own budget and tax legislation. Tass

#AFN2014

#acefinancenews, #crimea, #hryvnia, #itar-tass, #rouble, #russian, #simferopol, #ukraines

` Crimea (autonomy seeking independence from Ukraine) hope that ` Ukrainian Banks will not block Crimean Residents’ Accounts.

#AceWorldNews – SIMFEROPOL, The authorities of Crimea (autonomy seeking independence from Ukraine) hope that Ukrainian banks will not block Crimean residents’ accounts.

Otherwise, the autonomy’s government will have to sell Ukrainian state property to make up for these losses, Crimean Prime Minister Sergei Aksyonov said on Saturday, March 15.

He stressed that the Crimean authorities “do not touch by any means” Ukrainian banks’ branches on the peninsula. However, “our main task is to return deposits to people… and if Ukrainian banks do so, that will be one kind of situation.

If they don’t, then we will sell Ukraine’s property to compensate people [for their losses],” he said.

The prime minister reiterated that private property and banks would not be nationalised in Crimea.

“We will only make the decision on health resorts, real estate and other property owned by the Ukrainian state.
This issue will be addressed by a working group after the referendum [on Crimea’s status to be held on March 16,” Aksyonov said.

Much will depend on “how the state of Ukraine acts,” he said. If the Ukrainian authorities cut off electricity or take other steps against Crimea, its authorities will regard this as an act of sabotage, Aksyonov said.

“Future decisions on Ukraine’s real estate [on the peninsula] will depend on that,” he said. The authorities of Crimea (autonomy seeking independence from Ukraine) hope that Ukrainian banks will not block Crimean residents’ accounts.
Otherwise, the autonomy’s government will have to sell Ukrainian state property to make up for these losses, Crimean Prime Minister Sergei Aksyonov said on Saturday, March 15.

He stressed that the Crimean authorities “do not touch by any means” Ukrainian banks’ branches on the peninsula. However, “our main task is to return deposits to people… and if Ukrainian banks do so, that will be one kind of situation. If they don’t, then we will sell Ukraine’s property to compensate people [for their losses],” he said.

The prime minister reiterated that private property and banks would not be nationalised in Crimea. “We will only make the decision on health resorts, real estate and other property owned by the Ukrainian state. This issue will be addressed by a working group after the referendum [on Crimea’s status to be held on March 16,” Aksyonov said.

Much will depend on “how the state of Ukraine acts,” he said. If the Ukrainian authorities cut off electricity or take other steps against Crimea, its authorities will regard this as an act of sabotage, Aksyonov said. “Future decisions on Ukraine’s real estate [on the peninsula] will depend on that,” he said.

Itar-Tass – Reuters – News Sources

#AFN2014

#acefinancenews, #autonomous-ukrainian-republic-of-crimea, #crimea, #crimean, #itar-tass, #reuters, #russian-crimean-prime-minister-sergei-aksyonov, #ukrainian

` Bitcoins and Cyptocurrencies cannot be used in ` Russia ‘ as they carry the risk of Violating Citizen’s Rights ‘

#AceFinanceNews The use of Bitcoins and other Cryptocurrencies carries the risk of violating citizens’ property rights and cannot be used in Russia, the country’s Prosecutor General’s Office concluded after meeting with the Central Bank, FSB, and Interior Ministry.

“The monitoring of the use of virtual currencies shows an increasing interest in them, including for the purpose of money laundering, profit obtained through illegal means,” ITAR-TASS quoted the Prosecutor General’s Office as saying.

“Russia’s official currency is the Ruble. The introduction of other types of currencies and the issue of money surrogates are banned,” the statement says, meaning that Cryptocurrencies – the most popular of which is Bitcoin – cannot be used by Russian citizens or corporations.

Members of the meeting also outlined recommendations on how to prevent the use of virtual currencies.

Last month, Russia’s Central Bank (CBR) warned people against using virtual currencies, as they could be tied to gangs involved in money laundering and terrorist financing. CBR issued a statement stating that virtual currencies are illegal under Article 27 of the federal law ‘On the Central Bank of the Russian Federation.’

Bitcoin is an independent currency which is not regulated by a government and therefore “carries a high risk in devaluation.”

#AFN2014

#bitcoin, #cryptocurrencies, #fsb, #itar-tass, #ruble, #russia, #russias, #russias-central-bank-cbr, #russian

` Ukrainian Banks will not be `Nationalised ‘ if Referendum decides ` Crimea’s ‘ Accession to Russia ‘

#AceFinanceNews – Ukrainian bank’s in Crimea will not be nationalized if the March 16 referendum decides on Crimea’s accession to Russia, Crimean Prime Minister Sergei Aksyonov promised.

“Not a single bank will be nationalized and we will not withdraw bank assets,” he said. Aksyonov said all the negative variants of developments are expected from the Kiev powers.

“We will support the bank system. I do declare that not a single shareholder, not a single proprietor in Crimea will suffer from the authorities’ actions,” the premier stressed – Itar-Tass .

“The bank system now functions in accordance with Ukrainian legislation; Russian laws will be in effect after the referendum,” he said. “We will help all to transfer to Russian legislation in a peaceful route,” he said.

The Crimean authorities had earlier denied rumours about nationalization Ukrainian bank branches in Crimea.

First Deputy Premier Rustam Temirgaliyev stated on Wednesday that the banks can continue operations after re-registration in accordance with Russian laws.

The deputy premier suggested that Crimean residents should continue fulfilling obligations to financial organizations, specifically, make credit payments.

AFN2014

#afn2014, #crimea, #itar-tass, #kiev, #russian-crimean-prime-minister-sergei-aksyonov, #ukrainian

#AceFinanceNews KIEV In 2014 the World Bank made…

#AceFinanceNews KIEV, In 2014, the World Bank made a decision to provide additional financial aid of $3 billion to Ukraine in order to carry out reforms and key economic projects, the Ukrainian government’s press service reported on Thursday. Itar-Tass

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“Three billion dollars is serious funding. This sum exceeds the funding that was provided to Ukraine last year. Most funding will be used to develop and modernize housing and communal services, improve social welfare for the population,” World Bank Director for Ukraine, Belarus and Moldova Qimiao Fan said.

#itar-tass, #kiev, #ukraine, #ukrainian, #world-bank

#AceFinanceNews #AFN2014

#AceFinanceNews

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“Today Ukraine’s gas debt makes more than $1.8 billion . Meanwhile, the debt keeps growing from month to month from the beginning of the year. Yes, Ukraine is in a deep political crisis, but it is needed to pay for gas. Today we see that our actions towards Ukraine are absolutely lawful. We have all rights under effective contract to pass to prepayment for Russian gas supplies to Ukraine. But we do not do this and we realise that this is a very important aspect so that an economic collapse will not break out in Ukraine and so that risks for Russian gas transit to Europe will not arise,” Miller said.

#itar-tass, #russian, #ukraine

` Gazprom CEO Alexei Miller says that within two years,` Russia ‘ will start `Supplying Gas ‘to ` Europe’ through a new route, which will be protected from transit risks’

#AceFinanceNews – Moscow – Operator of the South Stream offshore pipeline construction, the South Stream Transport BV company, will sign construction contracts covering offshore pipe laying of Line 1 and supplying pipes for Line 2 before the end of the current month, Gazprom CEO Alexei Miller said on Tuesday, summing up results of the company’s Supervisory Board meeting, which approved signing the above-mentioned documents.

Among other things, the contracts also envisage activities aimed at the development of landfall facilities and construction of offshore crossings necessary for all four lines of the offshore gas pipeline both in Russia and Bulgaria.

Itar-Tass

#AFN2014

#bulgaria, #ceo-alexei-miller, #europe, #gazprom, #itar-tass, #moscow, #russia, #south-stream-transport-bv