Foreign Minister

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LONDON Cheap Nike Air Max 2017 , May 11 (Xinhua) -- Bank of China has joined CHAPS Clearing Company Limited, Britain's electronic same day payment system as a shareholder and direct participant with immediate effect, CHAPS Clearing Company announced on Thursday.


Bank of China (BOC) is the first Asian-headquartered direct participant in CHAPS (the Clearing House Automated Payment System)), which brings the total number of CHAPS direct participant to 25.


Sun Yu Cheap Nike Air Max 96 , general manager of Bank of China Limited London branch, said: "After joining CHAPS, we have completed another vital step towards the internationalization of our direct clearing network, now covering the world's major currencies. Our customers will benefit from the more efficient Cheap Nike Air Max 97 , secure and flexible payment and settlement services provided by Bank of China Limited."


Tim Fitzpatrick, chief executive of CHAPS Co, said: "Bank of China Limited is a leader in banking and financial services with an international presence in over 50 countries, and their participation in CHAPS further extends the accessibility of our service around the globe."


"Our expanding base of Direct Participants is a testament to the world-class offering we provide. We are looking forward to working with Bank of China Limited to enhance CHAPS for the benefits of all our users Cheap Nike Air Max 2018 Womens ," he added.


CHAPS is the British electronic payment system that guarantees same day settlement finality for high-value payments. It is at the heart of the British payments and financial infrastructure. The system continues to be one of the largest Real-Time Gross Settlement (RTGS) systems in the world, offering efficient, risk-free and irrevocable same day payments to meet the sterling RTGS payment requirements of its Direct Participants.


Bank of China Limited is the most internationalized and diversified bank in China. Established in 1912, it has been satisfying the financial requirements of its clients in Britain for nearly 90 years with a comprehensive range of financial services.


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Moscow (AFP) - A defiant Russia said Wednesday that Western sanctions over Ukraine would backfire on the United States and lead to energy price hikes in Europe after Brussels and Washington unveiled the toughest punitive measures against Moscow since the Cold War.


Russia's response came as the Ukrainian military pushed on with its offensive against pro-Russian rebels in the east, retaking the town of Avdiyivka, only a dozen kilometres (eight miles) from the main rebel city of Donetsk.


The Russian foreign ministry warned the United States it was shooting itself in the foot and said it was punishing the Kremlin for ""independent policies that Washington finds inconvenient.""


Moscow also warned that European consumers would bear the brunt of sanctions targeting Russia's vital energy Cheap Nike Air Max 2018 , arms and finance sectors.


""This is a thoughtless, irresponsible step. It will inevitably lead to an increase in prices on the European energy market,"" the foreign ministry said.


Moscow also dismissed claims it was responsible for supplying the missile that downed Malaysia Airlines flight MH17.


Meanwhile the fighting between Kiev forces and rebels prevented a Dutch and Australian police contingent from visiting the crash site for the fourth day running.


The head of the Dutch recovery mission said it was unlikely the security situation would improve enough ""over the next few days"" to reach the site, where the remains of some of the 298 victims still lie nearly two weeks on.


""There is still too much fighting in the area www.cheapestairmaxshoes.org ,"" Pieter-Jaap Aalbersberg told reporters in Kiev.


One Ukrainian soldier was killed and 11 wounded over the past 24 hours, according to authorities.


- G7 warning -


Later Wednesday the European Union piled on asset freezes and travel bans against eight individuals including two close associates of Russian President Vladimir Putin who are leading shareholders in Rossiya Bank, which caters to senior Russian officials.


And the Group of Seven major developed economies warned that Russia faces still tougher sanctions if it does not change course.


""Russia still has the opportunity to choose the path of de-escalation,"" the G7 powers said in a joint statement released by the White House.


""If it does not do so Cheap Nike Air Max Sale , however, we remain ready to further intensify the costs of its adverse actions.""


Russia provided few details of possible retaliation but earlier Wednesday its agricultural watchdog banned the import of all fruit and vegetables from EU member Poland, one of the staunchest supporters of Kiev's pro-Western course.


Foreign Minister Sergei Lavrov said Russia was struggling to understand the West's logic, insisting Russia was doing everything to help mediate talks between Ukrainian authorities and Moscow-backed rebels.


""What exactly are our partners seeking?"" he said on a visit to Tajikistan.


The restrictions will hinder access for Russian state-owned banks to European financial markets Cheap Nike Air Max Shoes , forcing borrowing costs higher and hobbling an already struggling economy.


But Russian banks put on a brave face, saying their operations would not be affected and that they would seek funding outside the United States and Europe.


And Russian markets rallied Wednesday, with investors relieved that the Western sanctions were not even tougher. The main stock indices gained around two percent and the ruble firmed agains. Soccer Jerseys Wholesale Adidas NHL Jerseys Cheap Baseball Jerseys From China New NHL Jerseys China New NFL Jerseys China Nike NFL Jerseys From China College Jerseys Wholesale Custom Jerseys Wholesale New NBA Jerseys Wholesale Authentic Jerseys China