Private Online Banking in Russia: Tinkoff Cheapest, Sberbank Among the Most Expensive

According to the report by the Marksweb Rank&Report agency, Russians spend hundreds of rubles (1 USD = 63.42 rubles) on online banking services every month. Business daily Vedomosti reports that the agency published its findings in October based on the research that included 30 Russian banks with the largest number of online clients. Examined banks’ […]

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Orthodox Banking in Russia

One of the most bizarre news from Russia this week features the General Manager of the troubled “Peresvet” bank Alexander Schvets who ended up in an intensive care unit just as his bank was forced to limit the withdrawal of deposits to 100,000 rubles (USD 1,500) per client. On October 14, TV channel RainTV reported that […]

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Putin Puts Money Where His Mouth is: Russia to Increase Defense Spending Regardless of Budget Shortfall

Gazeta.ru reports that the Russian Ministry of Finance prepared a proposal for the 2016 budget that involves an apparent increase of military expenditures. Regardless of the budget shortfall of 374.5 billion rubles (USD 6 billion), the Ministry proposes to increase the expenditures by approximately 300 billion rubles (USD 4.8 billion) to 16.4 trillion rubles (USD 262 […]

Read More Putin Puts Money Where His Mouth is: Russia to Increase Defense Spending Regardless of Budget Shortfall