Western sanctions

Silicium-2, a specialized finance company, won a $194 million lawsuit against Euroclear in Moscow. The ruling by the Moscow Arbitration Court is part of ongoing legal actions targeting Euroclear over assets frozen by Western sanctions.

Russia's first comprehensive crypto law is two votes away from passing. The bill licenses exchanges, limits retail investors to $3,800 annually, and allows Russian companies to use crypto for payments to foreign partners, circumventing Western sanctions.

Russia's economy shows signs of strain despite wartime growth metrics like stable GDP and low unemployment. The war effort has dominated industrial and technological resources, leading to military stalemates and rising costs, according to a CSIS report. Everyday Russians face economic distress as the model becomes unsustainable.

Ukraine's military damaged the sanctioned Russian tanker FINA A in the Black Sea, targeting a vessel used to transport oil in circumvention of Western sanctions. The strike also damaged two road bridges and multiple Russian command and drone-control points across occupied territories and inside Russia.

Iran's Central Bank Governor Abdolnaser Hemmati led a delegation to Moscow to discuss expanding monetary and banking cooperation between Iran and Russia. The talks aim to facilitate monetary exchanges, strengthen central bank collaboration, and develop mechanisms for broader economic ties, amid ongoing Western sanctions on Iran and potential U.S.-Iran negotiations on sanctions relief.

Putin criticized Western sanctions for harming the global economy and eroding trust in Western currencies, citing Russia's lower state debt and controlled budget deficit as strengths. He emphasized a shift toward a multipolar world and highlighted attendance at the St. Petersburg forum by leaders from Saudi Arabia, Uzbekistan, Tanzania, and China.

Russian President Vladimir Putin criticizes Western sanctions, stating that developing countries now play a more significant role in the global economy while Western countries' output has decreased.

Russian ruble-backed stablecoin A7A5 processed over $110 billion in transactions despite Western sanctions, according to CertiK.

Myanmar leader Min Aung Hlaing's first trip to India as president, invited by Prime Minister Narendra Modi, aims to strengthen ties and counter Chinese influence. India maintains relations despite Western sanctions following Myanmar's 2021 coup.