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.
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 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
To address its budget shortfall, Russia has also begun selling off gold reserves from the National Welfare Fund.
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).
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
Spending on war and law enforcement agencies exceeds expenditures on education, healthcare, social policy, and the national economy combined.
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 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.
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
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.
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
Two men were recently arrested in Moscow after allegedly trying to steal 25 packets of butter.
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.
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
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,
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
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
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.
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.
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.
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 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.
Ukraine's military intelligence agency (HUR) on July 29 carried out a cyberattack against the Russian central bank, a source in the agency told the Kyiv Independent.
Russia's Central Bank announced on July 26 that it is to raise the interest rate from 16% to 18%, as the Russian economy continues to experience accelerated inflation amid its war in Ukraine.
Ministers from Sweden, Denmark, Finland, the Netherlands, Poland and the Baltic states said there are many clear signs that Russia's economy is much weaker and the beginning of a "re-Sovietization" of the economy could be mistaken for a "boost."
"When we are looking at Russia, we are looking at how both countries can gain by better trade relationships," Indian Trade Secretary Sunil Barthwal said during a press conference.
The annual inflation rate for June was 8.59%, up from 8.30% the previous month. The figure is significantly higher than that of the U.S., which is expected to be around 3.1% for the month of June.
Russia's wartime economy has earned a dozen oligarchs $11 billion in dividends as Russian natural resource and finance giants earn record profits during the full-scale invasion of Ukraine, Bloomberg reported on July 9.
Since the full-scale invasion of Ukraine began in 2022, the Russian government has focused all of its financial resources on funding the war. As the war is the Kremlin's number one priority, all tools at its disposal have been used: increased taxation, sovereign funds, domestic borrowing, and the printing of
The figure has been steadily declining since a high of around 30%, shortly after the beginning of Russia's full-scale war against Ukraine in March 2022.
The U.S. State and Treasury departments issued what they called a "sweeping" set of sanctions against Russia and its financial backers on June 12, in the latest move to try and degrade Moscow's wartime economy. Western countries have imposed extensive economic restrictions against Moscow over its full-scale invasion of
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