FDI companies in Vietnam have consistently played a crucial role in contributing to Vietnam's economy and its growth. Since the authorization of foreign investment in 1988, Vietnam FDI has been pivotal in transforming the country into a highly appealing destination for international investors. The country’s robust growth in securing FDI has garnered positive feedback from […]
FDI companies in Vietnam have consistently played a crucial role in contributing to Vietnam's economy and its growth. Since the authorization of foreign investment in 1988, Vietnam FDI has been pivotal in transforming the country into a highly appealing destination for international investors. The country’s robust growth in securing FDI has garnered positive feedback from […]
EU has frozen more than USD 24 billion of Russian banks
Trường Lăng
Trường Lăng, founder and 15-year director of Viettonkin, guides the company's strategic direction, makes top-level decisions, and represents the firm in key business negotiations. With over 20 years of consulting experience in Belgium and Southeast Asia, including 15 years specializing in FDI projects, he has established himself as a top expert who helps clients across industries expand their businesses. His deep knowledge of risk management and business operations, combined with his proven track record of successful consultation projects, makes him a valuable partner for investors seeking quality consulting services.
EU officials announced that the alliance has frozen more than USD 24 billion in the Russian Central Bank’s assets as of Moscow launched the military campaign in Ukraine.
Russia said that Western sanctions have resulted in the freezing of about USD 300 billion in the global central banks’ assets.
About 23 billion euros (USD24.5 billion) in Russian Central Bank’s assets has been frozen by the alliance as of Moscow launched the military campaign in Ukraine at the end of February, which accounts for nearly 1/10 of the above figures, said Didier Reynders, the Justice Commissioner of the European Union (EU), on May 25 this year.
This is the first time the EU publicly announced this data, after collecting information from the member countries’ governments. The EU's figure is much lower than that of the US, which is said to have frozen USD 100 billion of Russian Central Bank.
Outside the headquarters of Russian Central Bank in Moscow in 2015
In addition, EU countries have frozen more than USD 10 billion in physical assets, such as yachts and villas, linked to the tycoons and officials with ties to Kremlin palace, said Reynders.
He did not explain why the EU, the world's third biggest economy, froze so few assets from Russian Central Bank. He also refused to say whether all EU governments have reported the asset freezing.
Many the EU member countries are traditionally careful in enforcing their sanctions. Several countries also refused to publicly announce whether to freeze Russian assets.
After Russia launched the military campaign in Ukraine, the US led its alliance to impose many rounds of sanctions against Russia, such as removing a few Russian banks from the SWIFT international payment system, banning the import of many goods from Russia and abolishing Russia’s most-favored-nation status. The US also announced a ban on imports of oil and other energy from Russia.
RT reports that Russia is subject to about 10,000 restrictions, and Russia is turned into the most sanctioned nation in the world.
Russia responded by banning the export of more than 200 commodities in the telecommunications, medical, automotive, agricultural, electrical engineering and technology sectors until the end of 2022. Moscow also banned a series of Western officials from entering into Russia, sanctioned dozens of the US’, the EU’s and Singapore’s energy companies, as well as required "unfriendly" countries to buy Russian energy in rubles.
Vietnam is emerging as a prime destination for foreign direct investment (FDI), driven by rapid economic growth, favorable government policies, and an investor-friendly business environment. This eBook provides a deep dive into Vietnam’s economic landscape, highlighting key industries such as manufacturing, real estate, and digital banking that attract FDI. It also explores the government’s proactive measures to streamline investment procedures, improve infrastructure, and offer tax incentives for foreign enterprises. Additionally, it covers crucial insights into market entry strategies, regulatory requirements, and socio-cultural factors that influence business success in Vietnam.
Download the eBook now to gain expert insights into successfully navigating Vietnam’s dynamic investment landscape!
Vietnam is emerging as a prime destination for foreign direct investment (FDI), driven by rapid economic growth, favorable government policies, and an investor-friendly business environment. This eBook provides a deep dive into Vietnam’s economic landscape, highlighting key industries such as manufacturing, real estate, and digital banking that attract FDI. It also explores the government’s proactive measures to streamline investment procedures, improve infrastructure, and offer tax incentives for foreign enterprises. Additionally, it covers crucial insights into market entry strategies, regulatory requirements, and socio-cultural factors that influence business success in Vietnam.
Download the eBook now to gain expert insights into successfully navigating Vietnam’s dynamic investment landscape!
Founded in 2009, Viettonkin Consulting is a multi-disciplinary group of consulting firms headquartered in Hanoi, Vietnam with offices in Ho Chi Minh City, Jakarta, Bangkok, Singapore, and Hong Kong and a strong presence through strategic alliances throughout Southeast Asia. Our firm’s guiding mission is aimed towards facilitating intra-ASEAN investments and connecting investors in Southeast Asia with the rest of the world, thus promoting international business relationships and strengthening inter-nation connections.
