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.
Russian Economy
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.
Media: Russian Su-30 producer buys back over $400 million of own equipment in past 2 years
A Russian Su-30 fighter jet producer bought back its own equipment previously sold to foreign partners worth over $400 million in 2022 and 2023, the Russian independent outlet Moscow Times reported on May 7, citing customs data.
Reuters: Russian court cancels confiscation of some JPMorgan assets in dispute with Russian bank
A Russian court canceled the seizure of some of JPMorgan funds in Russia as part of a lawsuit with the Russian state-owned bank VTB, Reuters reported on May 2.
Gazprom reports nearly $6.9 billion in net losses in 2023
The state-owned Russian energy giant Gazprom reported a net loss of 629 billion rubles (nearly $6.9 billion) in 2023, the company's largest profit downturn in decades amidst falling gas prices and a limited European market.
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.
German defense minister: Russia already produces surplus military equipment
Russia is already producing more arms and military equipment than it needs for its war against Ukraine, and is filling its weapons warehouses, German Defense Minister Boris Pistorius said, as reported by the German television channel n-tv on April 25.
WSJ: US drafting sanctions aimed at Chinese banks aiding Russia’s war effort
Washington hopes they will allow Secretary of State Antony Blinken to arrive armed with diplomatic leverage on a visit to China this week, in a push to stop Beijing's commercial support of Russia's military production.
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.
Ukraine's military intelligence hints drone attacks on military facilities in Russia to continue, 'range will increase'
Andrii Yusov, a spokesman for Ukraine's military intelligence agency (HUR), hinted on April 4 that drone strikes on military facilities inside Russia will continue and "their range will increase."
Military intelligence: Ukraine hits drone factory in Russia's Tatarstan
Ukraine's military intelligence agency (HUR) targeted a manufacturing facility for Shahed-type attack drones in Russia's Republic of Tatarstan, a source in HUR told the Kyiv Independent on April 2.
Fire breaks out at industrial facility in Russia's Yekaterinburg
Uralmashzavod, based in the major Russian city east of the Ural Mountains, produces equipment for the metallurgy, mining, and energy industries.
As sanctions bite, Russia eyes Ukraine’s mineral resources to fund its invasion
Russia's 2024 federal budget brought little in the way of surprises, the country is gearing up for a long war. Signed by President Vladimir Putin earlier this week, it ushered record levels of military spending — a sign of Moscow's commitment to its war against Ukraine. While part of the Russian
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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