#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.
#AceFinanceNews -On Friday, the international payment systems Visa and MasterCard suddenly stopped service cards issued by the bank Rossiya.
#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