President Putin with the elected representatives, turned the economy of Russia around, to give Russia back to the people of Russia. The middle class appeared by 2004 and continues to increase to this day. Over 30% of the Russian population is now middle class while the west sinks into poverty. Unemployment is very low so Russia is being careful on immigration. Very little of what he and the elected Duma and Senate have done is told to the western audience. While the west continues to spend trillions on war Russia built a rapid rail system between Moscow and St. Petersburg. A nine hour trip now takes under three environmentally friendly hours.
Just when you thought you were off the hook it is time to send in your Tax Returns to the Federal Government. Yes you have paid taxes on everything from a light bulb to a USB drive all year so why more?
Someone has to pay for the 1.7 million Canadian bureaucrats, their health care, their days off and their pensions. Can you remember the last time you called the Canadian government and talked to someone in Canada’s two official languages French and English? You will have a better chance by calling from 7 a.m. ET to 3 p.m Pacific Time. I am not suggesting you call ET although you would have more fun trying. ET is Eastern Time plus 30 minutes in Newfoundland.
Electronic Filing via Internet
It is the fastest method to get it over with quickly. Faster when you have an online account with Canada Revenue Agency (CRA). Someone told me a few days ago there are more than 3 billion people using the Internet. Yet 20% of the highly Canadian techno savvy population know how to set up an account with CRA. Your account gives you a way to get all of your T slips or reassess an Income Tax Return. Plus look over information regarding CPP, OAS and other benefits. Factually speaking they are not benefits since the money comes from your contributions to various plans such as an RRSP. Hyperlinks above will take you to the CRA website where you can set up your account.
Deadline to Remember
Canada Revenue Agency set April 30, 2017 as deadline for filing your 2016 tax return. Your employer has until the end of February to hand over T slips. If you worked more than one job then call the employer(s) for the T-4 slip(s). There are several billion dollars of unclaimed amounts being held by CRA due to people not filing an Income Tax Return. Last year I completed a return for a 30-year-old who had not filed in 6 years. He was delightfully silly when the money owed to him arrived. If you had deductions and most do have them file your Return. It is your money.
Ways to File and Income Tax Return
Electronic filing with CRA approved software is the best method ever. Here is a list of the software approved to date. Some are free for low-income earners below $30,000.00 for a single person and $45,000.00 for a couple. My non-sponsored recommendation for those who have a simple return is UFile 2016. It should be called Income Tax for Dummies because it is so easy to use. (Place name here … Address here…)
Many other software programs are listed and some require more computer skill. Often times you can also get a discount via the CRA website from the software developer.
Paper tax returns can be found around the Post Office or Federal government locations such as Service Canada and CRA of course. You require pencils, pencil sharper, paper and lots of patience. The paper manual included with the kit will give your brain a good workout. Last time I had to use paper returns was for a lovely lady who failed to do any tax returns during the previous ten years.
Community Volunteer Income Tax Program
It was initially started in Quebec and Ontario to find out if there was a need for a volunteer program. They were swamped and CVTIP became a national way for Canadians on low incomes to have their taxes prepared and filed with CRA. The low-income markers are slightly different from one volunteer group to another. The CRA guideline is $35,000.00 per individual and $45,000.00 per couple. CVITP does not include those with T-5 financial resources over the amounts stated nor self-employed persons.
The volunteers across Canada assisted people on low incomes by preparing and filed close to 750,000 Income Tax Returns in 2016. We expect a sharp increase this year. Look over this link to find a volunteer group in your town or city. Bring your T slips and make an appointment where it is applicable. Every person involved goes through a clearance process with CRA and police clearance. A copy of the return is printed for you and none of the volunteers or local groups keep your returns on file. If you require a special need or assistance with language ask before you arrive.
A Few Additional Notes
Anyone collecting a pension, a disability allowance or additional funding need to file an income tax return. If you do not file a return your pension or any funding will be cut off in July. This includes GST rebates from July 2017 onward until the return if filed.
Seniors will only receive the CPP amount when the return is not filed by the April deadline. Let us pretend you are receiving $1600.00 a month pension plus the other allowances. Those allowances are the part of the pension you will not receive after July. Your July pension will be reduced to $400.00 +/- a month. I do volunteer after doing taxes for a few decades and it is heart breaking to see an 80-year-old in tears. For those reading this please do whatever is possible to ensure the elders in your family get their returns done on time. Provincial benefits as low as they are will also stop.
The current Federal government has introduced some of what they call poverty reduction into tax system. As I see it through the tax returns it is more than likely going to toss a few 100 thousand people out of their homes. This poverty reduction tax plan has a gaping hole in it someone forgot to research.
Most housing subsidy programs in Canada ask for the amount on Line 150 or Line 236 of your income tax form when applying. Line 150 is your total income and includes any current subsidies and Line 236 is the adjusted amount. These two lines are usually the same amount of dollars. The Federal government is going to increase the amounts on Line 150 and thus Line 236. It will put low-income earners in a higher artificial income bracket and disallow them Local or Provincial Housing assistance.
They claim there will be a decrease in poverty. It will be followed up by a massive increase in homelessness. It is more akin to a double negative balance found in most oligarchies.
Fraudulent Emails and Phone Calls
Best to put a hyperlink to the last scams being used in Canada. A few minutes of your time will make you aware of scams via phone, text messages, email, online and telemarketing.
The age of Empire ended with the decline of the Roman Empire between 400 to 700 C.E. (Common Era)
The vast trade routes of Rome extended to China, India, Africa and Europe. An Empire expands into unknown territories and the Roman Empire did so over more than a 1500 years.
“There was but one Rome: no other city, either of ancient or modern times, has ever rivaled this astonishing metropolis in the grandeur of magnitude; and not many—if we except the cities of Greece, none at all—in the grandeur of architectural display.
Among empires: the Persians, the Spanish, French and British cannot but be admired as prodigious growths out of so small a stem. There was but one Rome: no other city, as we are satisfied by the collation of many facts, either of ancient or modern times, has ever rivaled Rome. The earth had its prerogative city and that city was Rome.
Power is measured by resistance. Upon such a scale, if it were applied with skill, the relations of greatness in Rome to the greatest of all that has gone before her, and has yet come after her, would first be adequately revealed. Since that era no land, no part and parcel of the Roman empire, has ever risen into strength and opulence, except where unusual artificial industry has availed to counteract the tendencies of nature.” Thomas de Quincey
How is Your World?
Do you wonder how long it will take for the populist media to mention unemployment or under-employment? Did you receive an increase in pay from your employer during the past two years? Have you noticed how the food industry has reduced the size of the package and increased the cost of food?
When the media writes a story about food or price increases they use the term average price. Average is taking all of the prices over a time frame and dividing it. Only the median price or cost lets you see how many dollars are removed from your budget to cover the increase. It is deceit on the part of the media to leave out the details.
The Truth or Not is in the Wording
Some believe we are in an age of information made simple with electronic devices. I would agree we have improved on a rapidly moving technology. How many people look at their mobile device and think of it as a hand-held computer? Here is the result of a search for the most favored apps being used from the Google Play store.
It doesn’t appear as though many people are using a dictionary in that group. We certainly have no desire to ruin their day by teaching them to understand the meaning of words. Let’s look at another group from Google Play rated as the most used apps.
This group definitely sees no need to learn how to spell or understand composition. Say what you want to say in a myriad of characters and gain fans, friends and followers. Whatever you do keep it short and use one syllable words since very few people read or know how to read an article. The trick to raising your totals on most of these most used website apps is by posting a nude or semi-nude photo.
When you get into an argument with a know-it-all you can get rid of the person with a quick photo such as the one below. The person in this case retorted with “that’s not Moscow..!!” For over 15 years and counting Russia bolted forward while the populist media kept silent. Moscow became a financial hub bringing with it good paying employment, massive reconstruction, a space program second to no one and a rising middle class.
The sanctions placed on Russia go far beyond the Ukraine or Crimea. They were meant to slow down the billions of dollars flowing into Russia as a sound investment. There was a slight pause by investors for almost three or so months.
The Facts Please
Let’s be reasonable with the knowledge the cold war ended when the Berlin Wall came tumbling down in 1989. Followed closely by the wall in Berlin the USSR (Union of Soviet Socialist Republics) began to unravel. Each of the former states within the USSR, including Russia, began to feel freedom for the first time since 1917. (some countries were pulled into the Soviet sphere after WW II)
A marvelous writer wrote an article from an American perspective about the cold war. I re-blogged it a few weeks ago. As the communist Soviet Union came undone I was happy there were no longer Russian boggy men waiting to take my life. Now as the years pass I realize it was all a fabrication of lies to instill fear rather than peace in my life. For whatever reason, the US and its’ NATO allies, need an enemy to create a society for the very wealthy. As for the rest of us there are food banks, poverty, drugs and some food stamps.
We are not Equal in the Eyes of the Wealthiest
This article began by saying a few words about the Roman Empire. Seldom seen in the movies or documentaries are the lives of the slaves. We see the brave Senators while hearing the words of the largest land owners. They are in fact the same people. Rome was built on the backs of the slaves in the same way many western nations were built. A woman had no rights being considered unequal in the eyes of the men who wrote the rules. Simply read the biblical words men wrote on how a proper slave may be worthy of salvation. Why do you allow anyone to fill you with fear by placing themselves in the lofty position over you?
The media moguls should know when the cold war ended the so-called leader of the free world vanished too. Isn’t it odd the media repeats the free world lie while articles about our environment disappear? Follow the money trail whenever you read, listen to, or watch their trail of fear, lies and lack of imagination.
“The international community should have learned from the past lessons. The historical parallels in this case are undeniable. Unwillingness to join forces against Nazism in the 20th century cost us millions of lives in the bloodiest world war in human history. If they expected a nervous or hysterical reaction from us, if they wanted to see us become a danger to ourselves as much as to the world, they won’t get it. They won’t get any response meant for show or even for immediate political gain. They won’t get it..” Vladimir Putin Dec. 2, 2016
They didn’t get it nor do they understand.
Thank you for the Music – Freddie was our Friend too
I would hope by now you are happy with the Liberal plan, in Budget 2016, to eliminate poverty with an increase to the Canada Pension Plan. (CPP)
In a nutshell the CPP is made up of several plans all in one or nothing at all:
- Canada Pension Plan for those who contributed
- Old Age Security
- Guaranteed Income Supplement
- Provincial Benefit Plans
Your Investments reduce all of the above as punishment for thinking ahead. You get to pay taxes on the interest and pay taxes a second time when your withdraw money. On top of those insults your CPP+ benefits decrease. Company Pension Plans can reduce or eliminate all of the above.
If you worked for the government at any level, you need not worry, since those wealthy pensions are funded by the taxpayer.
The word poverty is used 13 times in the 271 page edition of Budget 2016. Three times when mentioning seniors in Canada. The same people who worked and find themselves facing a convoluted pension plan after 60 plus years.
Anyone who worked had best prepare yourself for the usual $7.00 per month pension increase in July. Examples of a large increase, used in Budget 2016, will only apply to people who never worked.
Yet another meaningless promise to the millions of seniors in poverty from the Liberal government under Justin Trudeau
Canada signed onto the Millennium Poverty Goals at the United Nations. Sadly reports in Canada base the poverty line on the Low Income Cutoff or LIM. Statistics Canada has made it very clear LIM is not a measure of poverty in Canada. The second false premise about poverty is the use of Line 150 on the Income Tax Return. Total income on Line 150 includes non-taxable supplements.
Poverty and low-income should be using Total Taxable Income on Line 260.
We needn’t concern politicians with low-income and poverty despite their promises made to Canadians and the United Nations. Their only concern is ensuring a wealthy pension for themselves with funds on an island in the Caribbean.
Every Canadian knows the irony of the annual Federal Income Tax Return. Tax time in Canada is every minute of every day. Taxes are on every item purchased and the place you call home. Taxes flow down from the Federal government, the Provincial government and Municipal governments. Through a convoluted system all goods and services, have a gouge and screw tax or the beloved GST, due to corporate boss Brian Mulroney. Many Provinces have joined their Provincial sales tax with the GST to have a harmonized tax. Calling a tax harmonized proves bureaucrats have a pale sense of humor.
What is the Purpose of an Income Tax Return?
“When the white man discovered this country Native Peoples were running it without taxes or debt. The white man thought he could improve our system” Native American Proverb
A temporary tax on income was introduced in 1917 as a measure to pay the war debts from WW I. Canada began following the American capitalist methodology too difficult to understand. A clever system where all the wealth of a nation is handed over to the wealthiest, not necessarily citizens, of the country. Statistics Canada gives you a glimpse of taxation in Canada on an archived page. Of all the information on the Internet you will find Statistics Canada the most informative.
There are several reasons to prepare, as accurately as possible, an Income Tax Return (TR). A not so obvious purpose is a statistical one. Your reported income along with various contributions, charities, political parties and church groups are mainly for a statistical analysis pertaining to Canada.
The question you want to know is, how much did you pay, in taxes on your earnings? An incorrect expression used is “how much do I get back this year?” Look closely at your pay cheque to find the deductions made during the previous year. The most common ones are: Income Tax, Canada Pension (CPP), Employment Insurance (EI), Union Dues, Pension Plan, Medical Plan and RRSP Contributions. There are others depending on your place of employment along with those for self-employed persons. Every dollar you earned is yours in a purely capitalist system found in pseudo democracies.
It is to your advantage, to prepare a TR so the excess funds deducted, are returned to you. I have prepared many 1000s of Tax Returns, for those working for companies, without correct deductions. You will end up owing the Federal government money each spring. The Federal government collects the income taxes for the Provinces.
Another incorrect phrase used all often by the media: “you are giving all your money to the Federal government”. Although I must admit they do keep a rather large piece of it. The Federal government, in Ottawa, returns funds to the Provinces via your TR. In other words the Feds are tax collectors.
Preparing Your Income Tax Return
Here I am neither promoting the way I do tax returns, nor any company, or any of those who develop software. Simple facts to remember and perhaps reminders.
- If you are Internet savvy you should already have an online account with Canada Revenue Agency. It is available in our national languages, French and English.
- Set up an online account for yourself and help a friend do so when possible.
- The account gives you access to all reported T-slips required including previous years.
- CRA (Canada Revenue Agency) has streamlined the website to make it easy to find information. There is a mobile app available.
- You can call CRA while online to ask a question about your return.
- When you call, remember, the person answering the phone is human. Treat the person the way you want to be treated.
- Be accurate with your request for information and be patient.
- You can use the online account to make a correction to your TR.
- Flush your browser cache after your session.
- Stop wasting paper for your returns and assessment. Everything is online and downloadable.
Some Canadian use the paper return, others use software while many use the instant cash back method or an accountant. Instant cash back is offered by companies, for a fee or percentage of excess funds, deducted during the year.
Use good software developed in Canada when you select the one you want to use. Software programs are not equal. You can miss a big tax credit by using sloppy software. CRA includes a selection of approved software on the website. You may save some money by purchasing the software online directly from the company.
Canada Revenue Agency and Low Income Canadians
During the 2014 tax year over 600,000 Canadians used the Community Volunteer Income Tax Program known as CVITP. It is offered everywhere in Canada.
“The Community Volunteer Income Tax Program (CVITP) is a collaboration between community organizations and the Canada Revenue Agency (CRA). Community organizations host tax preparation clinics and arrange for volunteers to prepare income tax and benefit returns for eligible individuals who have a modest income and a simple tax situation.”
Many community organizations have slightly higher income thresholds than recommended by CRA. Low income is described by CRA, as individuals having less than $30,000.00 and couples with less than $40,000.00 income per year. A complete list or community organization tax return clinics is found here. There are no fees or expenses for preparing and e-filing your tax return. All volunteers are trained and cleared by a criminal background check as required by CRA. You will be given a printed tax return after it is accepted by CRA online. The tax return is not kept by any of the groups approved by CRA.
Community groups are being flooded heavier with calls this year. Appointments are required by most but not participants in CVITP.
Final Word of Caution for Seniors
Your benefits will be cut off in July if you do not file a Tax Return on time. The benefits will not show up in your bank account at the end of July. CPP is all you will have to live on until the tax return is completed and received by CRA. Old Age Security, Guaranteed Income, GST rebate, Provincial Benefit and Supplements will disappear. It can take several months to begin receiving them if you are late filing. Most of the CVITP participants close down at the end of April while others have a few volunteers to assist you all year.
For those who read this it would be kind of you to share the information. Your parents or grand-parents could see their income reduced to under $500.00 per month.
Wealthy people write about poverty while never consulting those who live or see it every day.
Despite the hardship, the cold and concrete streets of Stockholm have become home to many seeking a better life.
But when darkness falls and most office workers are making their way home, squares, tunnels and local McDonald’s restaurants are filled with homeless people; beggars and various groups of young men who are now the focal point of a fierce immigration debate. Sweden took in 163,000 asylum seekers and many more migrants during 2015, the highest per capita in Europe.
“This is where we come to relax after a busy day in the city,” says Said, a young Moroccan originally from Tangier who could easily be confused for any Stockholm teenager with his hip-hop clothes and fluent Swedish.
He and his friends approach the counter of a tiny kebab shop on the outskirts of Stockholm and order a couple of plates of food to share. The take-away, which sells a set menu of Arabic food, is crowded with young men, eating at the tables along the walls while they chat carelessly about life.
Ten more guys stand outside smoking cigarettes while talking to people who happen to pass them by, some of whom stay to investigate the take-away menu and, occasionally, step inside to join the crowd.
The issue of stateless migrants has become a diplomatic minefield between Sweden and Morocco. The youths are pawns in a bigger political picture and Sweden’s attitude to the occupied West Sahara plays a part in the impasse over their status.
As a result, diplomatic relationships between Sweden and Morocco have been put under pressure, to the point where the Swedish Foreign Minister Anders Ygerman put in an official request to the Moroccan government to urgently deal with the 80,000 young men living in the streets of Tangier.
When western media makes up stories about Russia, it’s no big deal. When Russian media get things wrong, it’s “hybrid war.”
Last week, British state-controlled TV created hysteria with a documentary about a putative Russian invasion of Latvia. As usual, while the Latvians were miffed, nobody west of Kaliningrad had any difficulty with it. They were more concerned with the segment that showed the UK being nuked.
Thus, we again discover that the Western establishment believes it has a monopoly on truth. That only its narrative is worthy and anything that challenges the consensus is disinformation.
If Evelyn Waugh were around today he wouldn’t need to invent William Boot. Too many living, breathing, equivalents have passed through Ukraine and Turkey (the base for Syria coverage) in the past two years. By the same token, George Orwell’s Winston Smith seems tame compared to agitprop practitioners of today. A certain cabal in the pro-NATO realm has decided that cynicism is somehow unique to Russia. Bewilderingly, their exclusive focus on Russia invalidates much of this enterprise. They are blind to it in their own back yards.
For those of us who follow media, the last week has been truly instructive. An independent French journalist, Paul Moreira, decided to challenge the pro-Maidan group-think in the popular press. As it happens, not one fact in his documentary was noticeably erroneous.
The show was nicely timed as the British government is currently trying to force a £100 billion ($144 billion) upgrade of their Trident nuclear deterrent through parliament. The opposition leader, Jeremy Corbyn, contends that the money might be better spent elsewhere. This is hardly surprising, given that the UK is forecast to run a £69.5 billion budget deficit in the year to April 2016. In addition, over one million Brits currently rely on free food-banks to survive.
Entire article here: ‘Hybrid Warfare’: Anti-Russia propaganda finds a new buzzword — RT Op-Edge
After long eras of over-valuation, like the period we have been in since the late 1990s (with the notable exceptions of the lows after the 2000 and 2007 crashes), stocks have also often transitioned.
Why isn’t anyone talking about those facts?
- First, as mentioned, no one in the financial community likes to hear bad news or to be the bearer of bad news when it comes to stock prices. It’s bad for business.
- Second, valuation is nearly useless as a market-timing indicator.
- Third, yes, there is a (probably small) chance that it’s “different this time,” and all the historically predictive valuation measures are out-dated and no longer predictive.
The third reason is the one that everyone who is bullish about stocks these days is implicitly or explicitly relying on: “It’s different this time.”
Just so you know, every time there is a long bull market like the one we’ve had, people come up with lots of reasons to explain why it’s different this time. (And understandably so! Everyone wants the bull market to continue, and no one wants to miss further gains.) They did that in the late 1920s. They did that in the late 1990s. They did that in 2007. Usually, however, it isn’t different this time, and normality reasserts itself with a vengeance.
What do we get when we vote these miserable bastards to office?
We expect the politicians to act in a civilized manner. We are bored of your pathetic attempts to pour propaganda down our throats. Promises you made to us and every citizen on this planet are expected to be kept. Did our families beat that minion Hitler so you could be proud Nazi supporters? Why are you backing a Nazi regime where there was a democratically elected leader? Nice play Shakespeare try it again. Our families built the United Nations so you would have an open forum to work out differences. Too arrogant to admit you are wrong yet always ready for photo-ops.
You have deliberately created a delirious sense of hate and terror to enable more weapons of destruction. Where is your sense of decency? Your words yes we can and real change are meaningless. You have hit us with a blizzard of media half truths and outright lies.
Why are you sitting on your brain? Did you shove your head so far up your ass you are blinded by the dark side. Have you developed a speech problem? Do you require our assistance in showing you how to speak to another person over a disagreement? We do it every day of the year. Perhaps your use of verbs, nouns and adjectives needs some refreshing.
The big boys behind the military have conned you into believing they have solutions. They do not know how to dream of creating a world with everyone living in variations of peace. Why do your very wealthy friends horde trillions in paper dollars? Power is an illusion for the delusional mind. History is cluttered with those who wanted power over the citizens of this planet. Please share your memories of a wealthy historical character.
Tell your wealthy friends to release their trillions into the economy. We will thank them for their generosity, if, you do not kill us with more taxes.
You disgust me with your blithering remarks about nuclear weapons. We lived through the years of the bomb once. Once is enough. I could not imagine any of you jerks being in charge during those years. We had real leaders who were willing and able to speak to the other side. There is a difference between intelligence and being sleazy.
You have lost the capacity to speak an honest word.
It is pretentious of you to believe good jobs, a decent living and family can are created by building weapons of death. Did we have a day without war during the last 100 years?
When you were not looking the dreamers created millions of high paying jobs in the space program. Today your wealthy friends cannot figure out how to get a rocket off the ground. Yet you still believe the military creates steady employment. I know you are a slow learner so this was written with very few big words.
How did you forget the promises you made to the citizens of this planet?
You are so neurotic you depress me.
“Our most basic common link is that we all inhabit this planet.
We all breathe the same air.
We all cherish our children’s future.
And we are all mortal.” President John F. Kennedy
Countries tied to the U.S. dollar are unable to understand they are no longer the only global trading system. Canadian dollar becomes worthless while inflated pricing drives up household debt.
The sanctions against Russia were done without any evidence Russia was involved in the Ukraine coup d’état. Someone from the U.S. forgot to let the Canadian government know there would be a backlash. Recently Canadians have noticed the rising prices of goods while the price of oil drops to below $35.00 per barrel. Being closely tied to the U.S. dollar leaves Canada vulnerable to a low end dollar. Some Canadian Banks have stated this will help Canadian exports. They neglect to mention there is also a flip side called imports and balance of trade. As the global economies become more diverse Canada is playing the game of status quo. With 4.7 million Canadians trying to survive day to day watch the number grow. Food banks have become the only way 1.7 million Canadians are able to obtain a minimal amount of food.
Your Debt includes Government and Household
It is time for Canada’s new Prime Minister Justin Trudeau to tell Canadians the facts rather than fiction. Oil and gas were a major contributor to the economy until the sanctions were placed on Russia.
Other than having lovely photos on the front page of a magazine is he able to put Canada on it’s own two feet?
Our mainstream media is obsessed, with refugee stories and other fiction, while neglecting a global economic shift called BRICS.
The China and Russia Connection
In 2014 when Washington imposed numerous sanctions against Russia, she tried to pressure SWIFT, a private system of some 200 major international banks, to block Russia as well from using SWIFT, something Russia declared would be an act of warfare. In the event, at least that time, SWIFT members refused to impose a ban on SWIFT payment networks. Foolishly, Britain’s Cameron and the Russo-phobe Polish government joined Washington in August 2014 in trying to get SWIFT to freeze Russian banks out. In response, President Vladimir Putin ordered creation of a Russian inter-bank clearing system internal to Russia and it is today operational. China followed with establishment of plans for their own Chinese inter-bank clearing system that would go international, including with Russian banks, a severe blow to the politicized SWIFT of western banks.
CIPS will also facilitate financial coordination between China and BRICS partner countries especially Russia. The Russian Finance Ministry announced on November 6 that the Russian government will issue state bonds in 2016 to an as yet undetermined amount, in RMB, in a bid to outflank US sanctions and effectively draw closer to her strategic partner, China. The Washington US Treasury Financial Terrorism unit’s sanctions imposed on Russia in 2014 targeted its large state-owned banks. Sberbank, VTB, Vnesheconombank, Gazprombank and Rosselkhozbank (Russian Agriculture Bank) were cut off from long-term (over 30-day) Western financing.