Mon, 7 July
25.1 C
Yerevan
USD: 384.11 RUB: 4.88 EUR: 450.45 GEL: 141.38 GBP: 522.39

Western sanctions against Russia’s banks will not affect Armenian banks with Russian capital

YEREVAN, April 18. / ARKA /. Western sanctions against Russia’s banks will not affect Armenian banks with Russian capital, said Andranik Grigoryan, head of a Central Bank department in charge of stability and financial system development.

He explained that foreign banks in Armenia are not branches, but subsidiaries of foreign banks, which are subject to prudential regulation rules enforced in Armenia.

He said therefore Western sanctions can in no way affect Armenia-based banks, because they are registered and licensed in Armenia.

The EU and USA have so far imposed visa bans, asset freezes on tens of Russian figures and several banks because of Russia’s behaviour in Ukraine. They have also warned Russia of tougher sanctions in case of further destabilization of the situation in Ukraine.

Russia’s foreign ministry retaliated by saying that use of language of sanctions in dealing with Russia was inappropriate and counterproductive. -0 –

spot_img

POPULAR

Moody’s affirms Armenian government ratings at Ba3 with stable outlook

On June 26, 2025, Moody's affirmed the long-term issuer ratings in national and foreign currencies and senior unsecured debt in foreign currency of the Armenian government at Ba3, maintaining the stable outlook, the press service of the Ministry of Finance of Armenia reported.

Armenia takes first step toward regulating crypto assets

On Thursday, the National Assembly of Armenia approved in the second and final reading a draft law On Crypto Assets and amendments to a number of related laws.

Inflation of 3.9% registered in Armenia in June

In the consumer market of Armenia, 12-month inflation in June of this year amounted to 3.9%, according to the report of the National Statistical Committee (NSC) of Armenia.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Net inflow of remittances to Armenia from abroad increased by 13.9% over 5 months

The net inflow of private remittances in Armenia from abroad sent through the  banks in January-May 2025 amounted to $511.7 million, compared to $449.4 million in January-May 2024, according to a report by the Central Bank.

LATEST NEWS

spot_imgspot_imgspot_img