Ukrainian cyberattack targets Russia's central bank, source says
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.
Russian Economy
Russian Central Bank raises interest rate to 18% amid 'accelerated' inflation
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.
8 EU finance ministers: Russia lies about its economic strength, more sanctions needed
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."
India is aiming to increase exports to Russia after Modi-Putin meeting, Reuters says
"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.
Russia faces 6th straight month of price growth, Bloomberg reports
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.
Bloomberg names 12 oligarchs who earn billions in payouts from Russia's war economy
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.
Russia struggles to control finances as Ukraine invasion spending soars
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
Only 11% of Russians say sanctions have personally affected them or their family, poll shows
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.
US issues new 'sweeping' sanctions against Russia — will they make a difference this time?
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
Moscow Exchange suspends trading in dollars, euros
A new tranche of U.S. sanctions against Russian financial institutions forcibly suspended the trade of dollars and euros on the country's main trading hub, the Moscow Exchange.
Russia to increase taxes on companies and wealthy individuals to further fund war against Ukraine
The Russian Finance Ministry has proposed substantial tax increases on corporations and wealthy individuals to generate about 2.6 trillion rubles annually, to address the fiscal deficit following the full-scale invasion in Ukraine.
Sanctions against Russia are not working, says UAE trade official
"Sanctions slow the economy, (they) never stop it," said Hamam Buamim, chair of the Dubai Multi Commodities Center. "Trade continues flowing, it just flows in a different way."
Opinion: The West should launch a new economic Cold War against Russia
Russian President Vladimir Putin is trying to revive the Soviet Union, but two can play this game. To complete the Kremlin’s grotesque historical reenactment, the West should launch a new economic Cold War in response. In addition to the war of aggression waged against the civilians and cities of
Danone finalizes sale of assets and exits Russia
The French dairy products company Danone has finalized the sale of its Russian operations, accounting for about 5% of its global sales, after more than 30 years in the country.
European Commission predicts Russia's GDP growth in 2024 to reach almost 3%
The forecast was still lower than the one reported by Russian Finance Minister Anton Siluanov in April, who claimed that the country's GDP would grow by 3.6% in 2024.
Designated Russian defense minister vows to further integrate economy, military
Integrating the military with Russia's economy is a key task for its Defense Ministry, soon-to-be-appointed Russian Defense Minister Andrei Belousov told the Federation Council, Russia's upper house of parliament, on May 14.
Bloomberg: Russians who left abroad increasingly return home, boosting economy
Around 1 million Russians left the country after the start of the all-out war due to their opposition to the invasion or out of fear of mobilization.
Russian media: Russian official in Urals region arrested on suspicion of bribery
TASS and other media outlets that reported on Andrey Kislitsyn's arrest did not provide any other details on the charges, but mentioned that he was sentenced to at least two months of pre-trial detention.
FT: Europe 'sleep walking' into dependence on Russian fertilizer, producer says
Eurostat, the EU's statistics agency, said that the import of Russian urea, a typical fertilizer, had doubled from the previous year up to June 2023.
Russian finance minister says GDP expected to grow 3.6% in 2024, matching 2023's rate
The announcement followed comments earlier in the week from finance ministry official Lev Denisov, who said that the initial 2.3% estimate would be revised upwards due to the "strong growth of the economy" at the beginning of 2024.
Behind the smoke and mirrors of Russia’s resilient wartime economy
Russia is officially the world's most sanctioned country, but the Kremlin doesn't seem to care. Since Moscow launched a full-scale invasion of Ukraine in February, trade bans from the European Union and the United States have seen imports grind to a halt. Meanwhile, hundreds of international companies have fled the
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