Russian Central Bank

Sberbank, Russia’s largest bank, plans to launch a cryptocurrency wallet and digital depository by December 2024 following the enactment of new crypto legislation. Kirill Tsarev of Sberbank and Vladimir Chistyukhin of the Central Bank confirmed the timeline, with the law expected to take effect on September 1, 2024.

Euroclear is suing the Russian Central Bank in a Belgian court. The financial institution holds much of the 300 billion euros in Russian state assets frozen in the West after the 2022 invasion of Ukraine.

A former Russian central bank advisor claims Putin's regime is declining due to unsustainable war spending, fiscal rule violations, and economic strain from the Ukraine conflict. Russia's budget deficit has doubled 2025's projected level, while its sovereign wealth fund dwindles, and Ukraine's military advances worsen domestic fuel shortages and public anger.

The Russian Central Bank reduced its key rate to 14.25% by cutting it by 25 basis points, which was less than the anticipated 50-basis-point reduction. Analysts had expected a larger cut, indicating that policymakers are more cautious than previously thought.

Elvira Nabiullina has not attended several recent high-profile events, leading to speculation about potential leadership changes. Her absence has sparked discussions about a possible shake-up in the Russian central bank.

Elvira Nabiullina, the Russian Central Bank Chief, skipped the SPIEF economic forum, citing illness, but a source revealed she attended the funeral of her adviser Alexei Mozhin. The information was provided by a source to Vedomosti.

Russian banks will be allowed to carry weapons under a new law to defend against Ukrainian drone attacks. The measure applies to staff at the country's central bank and Sberbank.