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Cuban authorities are exploring the possibility of cryptocurrency to bypass US sanctions and mitigate the effects of the economic crisis, reports Reuters. “We are exploring options for using cryptocurrency in our national and international commercial transactions. We are working on this together with scientists, ”said Minister of Economy Alejandro Gil Fernandez. However, according to the official, cryptocurrencies are considered only as one of the components of a broad plan […]

Venezuelan authorities have ordered the termination of operations with payment systems Visa and MasterCard because of sanctions from the United States. This is stated in a joint statement by the Central Bank of the country and the Department for Supervision of the Banking Sector under the Ministry of Economy and Finance, signed on May 16. It is expected that operations on debit cards Visa and MasterCard will be stopped from November 30, 2019, […]

Russia and Venezuela will discuss the possibility of switching to settlements in rubles. This was announced by the Ambassador of Venezuela at the UN Geneva Office, Jorge Valero, Izvestia writes. The diplomat said that US sanctions and blocking accounts in dollars and euros had a negative impact on the country's economy. Venezuela has difficulty accessing international financing and oil investments. “We are now trying to carry out […]

The administration of US President Donald Trump is considering the possibility of imposing sanctions that will actually force Visa and Mastercard systems, as well as other financial companies, to suspend payment services in Venezuela. It is reported by Bloomberg. According to officials, such a move would put significant pressure on the government of Nicolas Maduro, who is not recognized by the president in Washington. It also means a ban for American […]

Russian First Deputy Prime Minister Anton Siluanov approved the transfer of VTB's share in the Eurofinance Mosnarbank to US government. Interfax reported this with reference to the head of VTB Andrei Kostin. The share of VTB (25% plus one share), which the bank owns through foreign structures of VTB Bank and ITC Consultants, will be donated to the property of the Federal Property Management Agency. The transaction is expected to take place […]