Russian President Vladimir Putin frequently boasts about the strength of his country’s economy, claiming that Western sanctions only made it stronger (while in the same breath demanding that they be lifted). In fact, “stagflation” — inflation combined with minimal growth — is coming to Russia. His war on Ukraine has caused
Inflation in Russia has reached its highest levels in nearly a year, driven by war spending and rising food prices, The Moscow Times reported on Dec. 25, citing Russia's Federal State Statistics Service (Rosstat).
Key developments on Dec. 20: * Russian An-72 military transport plane damaged in blast near Moscow, Ukraine's intel claims * Fire, casualties reported in Kyiv amid Russian missile attack * Ukraine charges Russian general with killing Reuters employee in Kramatorsk * Russia captures 'Uspenivka pocket,' Ukraine denies reports of failed breakout * Ukraine begins
To rein in accelerating inflation fueled by war spending, Russia's Central Bank has been raising its interest rate — from 7.5 percent in July 2023 to the current 21% - the highest level since the early 2000s.
Russian shopping centers have been hit hard by the departure of major foreign companies, rising operational costs, and increased competition from online marketplaces.
Editor's note: This article is a shortened on-site version of KI Insights' The Week Ahead newsletter covering events from Dec. 16 to Dec. 22. Sign up here to start your week with an agenda of Ukraine-related events, delivered directly to your inbox every Sunday. Central banks accounting for over 40%
With the purchasing power of the Russian ruble hitting the lowest point since March 2022, the economic toll of the full-scale invasion of Ukraine becomes glaring. Russia's expanding spending on the war has fueled inflation, prompting Russia's Central Bank to hike its interest rate to the highest level since the
According to FAZ, Ukraine will receive previously approved assistance, but additional requests from the German Defense Ministry will not be supported.
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