Zelensky announces new sanctions on Russian financial sector
President Volodymyr Zelensky signed a decree on Jan. 13 imposing new sanctions on the Russian financial sector. The sanctions target 140 distinct entities.
Russian Economy
Taliban-led Afghanistan became leading purchaser of Russian flour in 2024
Afghanistan became the largest importer of Russian flour in 2024, Russia's state agricultural export agency Agroexport reported on Jan. 10.
Russian elite 'disappointed' about Putin's handling of war in Ukraine, Meduza reports
Citing ten Russian officials, Meduza said the state of the country's economy was a particular "point of tension."
Trump's China strategy hinges on crippling Russia’s economy
U.S. President-elect Donald Trump is determined to confront China economically and strategically. This is a difficult problem, because so many goods purchased in the United States have supply chains with deep roots in the Chinese manufacturing base. If new U.S. tariffs cause the Chinese renminbi to depreciate, as
Russian luxury market thrives despite sanctions through shadow networks, FT reports
Russian shoppers continue to access luxury Western brands despite sanctions imposed after the full-scale invasion of Ukraine, The Financial Times reported on Dec. 26.
Russia's inflation hits year-high, driven by war spending, food price hikes, Rosstat says
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).
Russia keeps key interest rate at 21%, defying expert expectations
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.
Putin acknowledges sanctions have impact on Russia's economy
"The sanctions are having an effect, but they are not of key importance," Russian President Vladimir Putin said when talking about the surging inflation and prices in Russia.
25% of Russian malls may face bankruptcy in 2025
Russian shopping centers have been hit hard by the departure of major foreign companies, rising operational costs, and increased competition from online marketplaces.
Putin orders 'emergency support' for struggling Russian coal industry
Russian President Vladimir Putin has called for urgent measures to support the country’s coal companies, which face multibillion-dollar losses and risk mass bankruptcies, The Moscow Times reported on Dec. 12.
Russia, India sign record oil supply deal, Reuters reports
Russian state-owned oil company Rosneft and Indian refining giant Reliance Industries have finalized a landmark agreement to supply 500,000 barrels of oil daily for the next 10 years, Reuters reported on Dec. 12.
Russia's Aeroflot airline acquiring old planes to scrap for parts amid sanctions
Russia's largest airline Aeroflot plans to purchase five Boeing 737-800BCF freighters to disassemble for spare parts, Russian state media outlet Kommersant reported on Dec. 6. The planes are expected to be transferred to Aeroflot's low-cost subsidiary Pobeda, but converting them from cargo to passenger use under Western sanctions would be
Russia’s foreign currency reserves fall to lowest levels since 2008 amid mounting deficits
To address its budget shortfall, Russia has also begun selling off gold reserves from the National Welfare Fund.
Coffin prices in Russia have soared by 74% since start of full-scale invasion, media reports
The price of coffins in Russia has soared by 74% since the beginning of Russia's full-scale invasion of Ukraine, the Moscow Times reported on Dec. 5, citing Russia's Federal State Statistics Service (RosStat).
Rogan's "advice" and Russian ruble's fall | Ukraine This Week
Ukraine This Week's host, Anna Belokur, discusses Russia's attacks on Ukraine and its record losses, the ruble plunging to its lowest level since 2022, Joe Rogan's recent comments about Ukraine and President Volodymyr Zelensky, and why the West should do exactly what Rogan is preaching against: hit Russia where it
Putin approves Russia's budget with record spending on national defense
Spending on war and law enforcement agencies exceeds expenditures on education, healthcare, social policy, and the national economy combined.
Can Russia sustain its war effort as ruble plummets, inflation soars?
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
Monthly inflation in Russia accelerates, hitting a record number in 2.5 years
According to the Federal State Statistics Service (RosStat), during the week of Nov. 19-25, the consumer price index increased by 0.36%, up 1.15% from the beginning of the month, and over 8% from the beginning of the year.
Opinion: Russia is leveraging gold and working with China to bypass Western sanctions
Since the West imposed unprecedented economic pressure on Russia following its full-scale invasion of Ukraine, the country’s trade practices have undergone a dramatic transformation, with Russian international trade increasingly occurring in the shadows. Access to the goods it needs now depends on constant scheming. Given that Russia operates under
Opinion: With soaring interest rates and stagflation risks, Russia will face deep economic crisis regardless of war’s outcome
The recent hike in Russia’s key interest rate to 21% by the Central Bank in late October has stirred renewed debate among media and economists about the Russian economy’s outlook and how economic trends could influence Kremlin policies. Today, few predict an "imminent collapse" of the Russian economy.
Investigation: Who helped Russians increase production of domestic attack drones despite sanctions
An American-made HIMARS artillery system races down a Ukrainian road as a kamikaze drone hunts it down. The drone flies into the vehicle, followed by an explosion. The scene was caught on video by a Russian reconnaissance drone in mid-November. The drone that hit the HIMARS was a Lancet — one
Russian butter prices soar, rise in supermarket dairy thefts reported
Two men were recently arrested in Moscow after allegedly trying to steal 25 packets of butter.
Auchan in final negotiations with local buyer to exit Russian market, media reports
Auchan, one of the few French chains still operating in Russia, is in final negotiations to sell its Russian subsidiary to a local buyer, French media La Lettre reported on Oct. 24.
Russia's wartime economy delivers growth, but will the bubble burst?
A draft budget submitted to the Russian parliament last month has outlined the Kremlin's plans to keep spending high in its wartime economy, with ambitions to maintain the steady levels of growth the country has seen since its full-scale invasion of Ukraine in February 2022. Surging government spending on war
Opinion: Anti-money laundering watchdog FATF needs to blacklist Russia
The Financial Action Task Force (FATF) meets tomorrow, Oct. 22, and is expected to once again debate Russia’s blacklisting. That Russia, a clear state sponsor of terrorism, hasn’t been ousted from an intergovernmental body that sets global standards to combat terrorist financing, money laundering, and related financial crimes,
Russia’s war economy could be boosted by Middle East conflict, experts say
Saudi Arabia’s planned oil production hike may not break Russia’s petro-export-fueled economy, but escalations between Israel and Iran could be a gold rush for Moscow. Since late 2022, the OPEC oil cartel, of which Russia is a member, has withheld oil production and exports to prevent a surplus
Opinion: Putin’s economic gamble is a ticking time bomb for Russia’s future
Two and a half years after Russian President Vladimir Putin ordered a full-scale invasion of Ukraine, the Russian economy seems like a riddle wrapped in an enigma of competing narratives. If you want to argue that the economy has been hobbled by Western sanctions, by the Kremlin’s prioritizing of
Russia desperate to recruit workers at defense plants amid personnel shortage, BBC reports
More than 90,000 vacancies for defense industry jobs appeared on Russian job portals between Aug. 15 and Sept. 15, with companies offering triple the average regional salary for workers with high-demand specialties.
Russia plans more than 25% increase of funding for Putin, presidential administration
Expenses for Russian President Vladimir Putin and the presidential administration will increase to 30.9 billion rubles ($332 million) in 2025. The bulk of the expenses — 21 billion rubles ($235 million) are earmarked for an increase in salaries for the president and his staff.
Russia to maintain record high defense spending in 2025, Bloomberg reports
NATO countries have set a goal to spend 2 percent of the country’s GDP on defense in 2024. Russia is spending around 6 percent.
Shots fired at Moscow office of Russia's largest online retailer, killing 2, injuring 7
A shooting at the head office of Wildberries, Russia's largest online retailer, killed two people and injured at least seven others, Russian state-controlled news agency TASS reported on Sept. 18.
Russia's economy will face sharp decline after second quarter of 2024, Bloomberg reports
Russia is on track for an intense economic slowdown due to significant labor shortages and constraints placed on the key sectors that backed growth until now, Bloomberg reported on Aug. 9.
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