RUSSIA SANCTIONS DELAY 100 ROUBLE BANKNOTE

 

Russia's new 100 rouble banknotes are impossible to withdraw from ATMs because the Western companies that programmed them have left the country.

The Rzhev Memorial to the Soviet Soldier, a memorial to one of the bloodiest battles of the Second World War due to the high Soviet casualties, features on the new banknote.

One the other side of the 100-rouble banknote – worth approximately £1.50 – is a picture of the Kremlin, which regularly draws comparisons between World War Two and its war in Ukraine to fuel patriotism in the country.

But the Association of Russian Banks has asked for a six-month delay to the introduction of the banknote as it said a new security feature was needed, according to The Telegraph.

Western ATM manufacturer Diebold Nixdorf and software company NCR Corporation, companies responsible for installing the bank machines and updating their software, are both American multinationals that have pulled out of Russia following Vladimir Putin's invasion of Ukraine on February 24.

The Russian banks are having trouble adding the security feature without the cooperation of Western companies, stalling the rollout of the new patriotic banknote.

The 100-rouble banknote was set to join the last edition printed in 2015 which was printed a year after the Russian annexation of Crimea to celebrate the seizing of Ukrainian territory.

Officials in Moscow have sought to downplay the gravity of the Western sanctions, promising that Russia will adapt and take steps to stop the flight of foreign currency and capital.

To read the complete articles, see:
Russia's new 100 rouble banknote is impossible to withdraw from ATMs after Western firms that program cash machine quit the country following Ukraine invasion (https://www.dailymail.co.uk/news/article-10975495/Russias-new-100-rouble-banknote-impossible-withdraw-ATMs-Western-firms-pulled-out.html)
Cash machine says no: How Russia's new 100 rouble banknotes have been rendered useless (https://www.telegraph.co.uk/world-news/2022/07/01/russian-cash-machines-cant-dispense-100-rouble-banknotes-western/)

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