Investogist
No Result
View All Result
Saturday, August 30, 2025
  • News
    • All
    • Africa
    • Nigeria
    • World
    UK Court awards £20m Damages in favour of Nigeria against P&ID

    FG, States, LGs share ₦2.00 Trillion for month of July 2025

    SEC warns against investing with GVEST Global’s illegal schemes

    SEC warns against investing with GVEST Global’s illegal schemes

    Only 23% of Nigerians trust INEC- Report says

    APGA candidates win Anambra by-elections

    US deficit grows to US$291 billion in July – Reports

    US deficit grows to US$291 billion in July – Reports

    Onitsha River Port receives first container barge for 2025 season

    Onitsha River Port receives first container barge for 2025 season

    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

    WAEC releases 2025 WASSCE results, how to check yours

    President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

    Festus Keyamo – Our Plans for the Murtala Mohammed International Airport Lagos

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Shareholder’s resolutions at Guaranty Trust Bank’s Annual General Meeting

    GTBank gets ₦365.85 billion capital injection, meets new minimum capital requirement

    NNPC and Partners to build first methanol plant in Nigeria

    NNPCL is under Attack – Bayo Ojulari, Group CEO

    Access Bank Plc to be delisted from the NGX, and be replaced by Access Holdings Plc

    Access Holdings Plc appoints Mr. Innocent Ike as Group MD/CEO

    Nigeria: Status of China loans and the satellite lost in space due to power failure

    International Energy Insurance Plc announces full and final repayment of JPY1.85 billion Coupon Bonds due 2028

    AIICO Board of Directors approve Dividend Payment and  2021 Financial Statements

    International Breweries appoints Temitope Oluwatosin as Company Secretary

    Outcome of Cadbury Nigeria Plc and Berger Paints Nigeria Plc Board meetings

    International Energy Insurance Plc calls an emergency Board meeting

    Wema Bank Plc surpasses recapitalisation target

    Wema Bank Plc surpasses recapitalisation target

    Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

    Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Beta Glass Plc Shareholders to be presented with a N1.04 dividend for 2020

    STANBIC IBTC ETF 30 announces ₦3.144 interim Dividend

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    SIAML Pension ETF 40 announces ₦12.44 interim Dividend

    Cutix Plc founder sells additional 1.8 million shares of the company

    VFD Group Plc Employees and others sell millions of VFD Group shares

    Nigerian Exchange – Stock Market report for the week ended 7th July, 2023

    The Nigerian Exchange records impressive performance in H1 2025

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
Investogist
  • News
    • All
    • Africa
    • Nigeria
    • World
    UK Court awards £20m Damages in favour of Nigeria against P&ID

    FG, States, LGs share ₦2.00 Trillion for month of July 2025

    SEC warns against investing with GVEST Global’s illegal schemes

    SEC warns against investing with GVEST Global’s illegal schemes

    Only 23% of Nigerians trust INEC- Report says

    APGA candidates win Anambra by-elections

    US deficit grows to US$291 billion in July – Reports

    US deficit grows to US$291 billion in July – Reports

    Onitsha River Port receives first container barge for 2025 season

    Onitsha River Port receives first container barge for 2025 season

    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

    WAEC releases 2025 WASSCE results, how to check yours

    President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

    Festus Keyamo – Our Plans for the Murtala Mohammed International Airport Lagos

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Shareholder’s resolutions at Guaranty Trust Bank’s Annual General Meeting

    GTBank gets ₦365.85 billion capital injection, meets new minimum capital requirement

    NNPC and Partners to build first methanol plant in Nigeria

    NNPCL is under Attack – Bayo Ojulari, Group CEO

    Access Bank Plc to be delisted from the NGX, and be replaced by Access Holdings Plc

    Access Holdings Plc appoints Mr. Innocent Ike as Group MD/CEO

    Nigeria: Status of China loans and the satellite lost in space due to power failure

    International Energy Insurance Plc announces full and final repayment of JPY1.85 billion Coupon Bonds due 2028

    AIICO Board of Directors approve Dividend Payment and  2021 Financial Statements

    International Breweries appoints Temitope Oluwatosin as Company Secretary

    Outcome of Cadbury Nigeria Plc and Berger Paints Nigeria Plc Board meetings

    International Energy Insurance Plc calls an emergency Board meeting

    Wema Bank Plc surpasses recapitalisation target

    Wema Bank Plc surpasses recapitalisation target

    Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

    Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Beta Glass Plc Shareholders to be presented with a N1.04 dividend for 2020

    STANBIC IBTC ETF 30 announces ₦3.144 interim Dividend

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    SIAML Pension ETF 40 announces ₦12.44 interim Dividend

    Cutix Plc founder sells additional 1.8 million shares of the company

    VFD Group Plc Employees and others sell millions of VFD Group shares

    Nigerian Exchange – Stock Market report for the week ended 7th July, 2023

    The Nigerian Exchange records impressive performance in H1 2025

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home News

Here are some of Russia’s sanctions survival strategy

Thursday, 17 March 2022, 11:36 pm
in News, World
0
Here are some of Russia’s sanctions survival strategy
Share Share Share Share Send as Email

On 21 February 2022, Russian President Vladimir Putin announced that Russia recognizes the independence of two pro-Russian breakaway regions in eastern Ukraine. In response, NATO countries  imposed the first round of sanctions on Russia the following day.

On 24 February 2022, Putin announced that he had made the decision to launch a “special military operation” in eastern Ukraine. He stated that he sought the “demilitarization and denazification” of Ukraine.

Breaking news: EFCC arrests Willie Obiano hours after handover

Within minutes of Putin’s announcement, explosions were reported in Kyiv, Kharkiv, Odessa, and the Donbas. Ukrainian officials said that Russian troops had landed in Mariupol and Odessa, and had launched cruise and ballistic missiles at airfields, military headquarters, and military depots in Kyiv, Kharkiv, and Dnipro.

The Russian invasion of Ukraine was well on its way, by the net day being 25th February, cruise and ballistic missiles were hitting the Ukrainian capital.

Since the invasion started, the United States, the European Union, NATO members and their allies has imposed a wide series of sanctions on the Russian Federation, its leaders and Billionaires (Oligarchs) that are said to be close to Putin.

The sanctions are designed to cripple the Russian Economy and punish President Putin.

The sanctions has been wide and far reaching, below are the takes the Russian authorities have and are taking to stabilize the domestic economy.

Payment System: Amongst the sanctions imposed on Russian was the cut off of her banks from the SWIFT (Society for Worldwide Interbank Financial Telecommunication) global financial system. This effectively denied these banks from accessing international markets.

In response, the country reverted to the use of Mir, the Russian alternative payment system. Russia now accept electronic transfers via Mir, which work with foreign banks and businesses bypassing Western restrictions.

Mir also provides an alternative to Visa and MasterCard, which have stopped providing international transaction services to Russian clients.

Mir is a Russian payment system for electronic fund transfers established by the Central Bank of Russia under a law adopted on 1 May 2017.

The development and implementation of Mir was spurred by the imposition of international sanctions against Russia in 2014.

Currency & Trade: To deny Russia an ability to trade international, EU and US sanctions targeted her holdings in euros and US dollars.

Sanction lade Russia has resorted to setting up trades mechanisms to enable national currency payments with foreign trade partners.

  • Between Russia and China, the ruble-yuan payment mechanism which has been around was handy.
  • With India, a ruble-rupee trading scheme had been announced for Russian oil exports to India. India, which until now bought only 3% of its oil imports from Russia, has been eager to boost purchases, as has Serbia.
  • Turkey, a NATO member has expressed its willingness to trade in rubles as well.

To support the Russian currency; ruble, Russian businesses that trade abroad were ordered to sell 80% of their foreign currency earnings and convert them to ruble.

The expectation is that it will stabilize the national currency and encourage more investments in Russia instead of moving them abroad.

President Putin urged Russian exporters not to reduce production in response to sanctions, but to supply the domestic market. This will keep prices within the country from surging, including for gasoline, diesel, metals, and other export goods, he said, adding that import substitution projects have never been more important.

To compensate for the increased devaluation of the ruble and inflation risks, help maintain price stability and protect citizens’ savings from depreciation, the Russian Central Ban raised key interest rate n late February from 9.5 to a record 20% per annum.

Nearly half of the country’s forex reserves were frozen and unavailable to support the depreciating ruble as a result of sanctions.

Earlier today, Investogist reported that the Russian rubble has strengthened for the sixth consecutive day against the US dollar.

Food Security: To secure domestic food supplies and stop prices from soaring, Russia temporarily banned grain exports to the countries of the Eurasian Economic Union (EAEU) earlier in the week.

Restrictions cover shipments to post-Soviet states that share a free customs zone with Russia. They include, Armenia, Belarus, Kazakhstan, and Kyrgyzstan.

The Eurasian Economic Union (EAEU) is an economic union of post-Soviet states located in Eastern Europe, Western Asia and Central Asia. The Treaty on the Eurasian Economic Union was signed on 29 May 2014 by the leaders of Belarus, Kazakhstan, and Russia, and came into force on 1 January 2015.

Debt Payment: Two Russian bonds’ US$117 million interest payment were due on Wednesday and these payments has been authorized.

The money is to come from the country’s accounts frozen abroad.  It is now up to the US and its allies to approve the transfer.

The Russian government argues that if the US and her allies do not approve the transfer, they will be left with no option but to pay the debt in rubles at the official central bank exchange rate at the time of transfer

Western-based institutions insist that unless the debt is paid in the currency of issue, Russia faces its first default in a century. Moscow insists that the West is trying to engineer “an artificial default” since the country has the money to pay its debts, to which it is being denied access.

Support for Citizens: On Wednesday, President Vladimir Putin ordered new measures to support Russian citizens amid rising prices, unemployment, and supply issues tied to sanctions. The steps will focus on protecting families with children and elderly citizens. He said a decision to increase the minimum wage, salaries in the public sector, and social benefits, including pensions, will be made in a matter of days.

Support for entrepreneurs and businesses: The Russian government has approved a draft plan to support small and medium-sized businesses. Local authorities have been instructed to provide organizations, individual entrepreneurs, and self-employed citizens with support measures, including subsidies and credits.

For foreign businesses, President Putin said on Wednesday that Russia will respect private ownership of foreign firms. He earlier voiced support of another idea – to introduce external management, so foreign firms could be run by partners in Russia. The Ministry of Economy is developing a bill to regulate the procedure.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

Related Posts:

  • President Biden
    Russia Imposes Sanctions on US President Joe Biden
  • Austria Russian Gas
    Impose all sanctions on Russia but not the gas…
  • US Fertilizer
    Is USA running out of sanctions that it has to…
  • Russian Sanction
    EU's new sanctions rain down on Russia, hitting its…
Previous Post

Just in: EFCC arrests Willie Obiano hours after handover

Next Post

You can still apply for any category of UK visa in Nigeria – British High Commission

Next Post
FG extends the start of new passport regime by one week

You can still apply for any category of UK visa in Nigeria - British High Commission

Please login to join discussion
  • Trending
  • Comments
  • Latest
MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2025, qualification and payment dates

Shareholder’s resolutions at Guaranty Trust Bank’s Annual General Meeting

GTBank gets ₦365.85 billion capital injection, meets new minimum capital requirement

AIICO Board of Directors approve Dividend Payment and  2021 Financial Statements

GTCO Board approves interim dividend for H1 2025

AIICO Board of Directors approve Dividend Payment and  2021 Financial Statements

UBA Board of Directors approves Interim Dividend for H1 2025

Shareholder’s resolutions at Guaranty Trust Bank’s Annual General Meeting

GTBank gets ₦365.85 billion capital injection, meets new minimum capital requirement

NNPC and Partners to build first methanol plant in Nigeria

NNPCL is under Attack – Bayo Ojulari, Group CEO

Access Bank Plc to be delisted from the NGX, and be replaced by Access Holdings Plc

Access Holdings Plc appoints Mr. Innocent Ike as Group MD/CEO

Nigeria: Status of China loans and the satellite lost in space due to power failure

International Energy Insurance Plc announces full and final repayment of JPY1.85 billion Coupon Bonds due 2028

Quick Links

News
Economy
Markets
Business
Opinion & Analysis

Newsletter Signup

Contact Investogist

info@investogist.com

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us

Copyright © 2025 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Business
    • Companies
    • Industry
    • Technology
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies

Copyright © 2025 investogist.com, All Rights Reserved