The move represents an apparent violation of U.N. resolutions prohibiting North Korea from sending its citizens to work overseas, which the Security Council passed after Pyongyang's intercontinental ballistic missile tests.
Speaking at a televised meeting with Prime Minister Mikhail Mishustin on Feb. 7, Putin noted that consumer prices in Russia rose by 9.5% in 2024 and have climbed further to 9.9% year-on-year this month.
Goldman Sachs has entered into a binding agreement to offload its Russian subsidiary, making it one of the few Western banks to exit the country entirely, Bloomberg reported.
Just one week into his presidency, U.S. President Donald Trump has hinted at his approach to U.S. sanctions on Russia. On Truth Social last week, he called on Russian President Vladimir Putin to “settle now and STOP this ridiculous War! IT’S ONLY GOING TO GET WORSE,” adding,
Few agreements are shrouded in more secrecy than inter-government arms deals — especially when one of the parties is a global pariah leading a bloody war. But a recent massive leak of emails and documents has given us an unprecedented glimpse into a particularly secretive transaction. The leak reveals that Saudi
The Kyiv Independent sat down with Timothy Ash, an associate fellow in the Russia and Eurasia program at Chatham House, to discuss Russia's current economic situation.
Ukraine has targeted Russia's fossil fuel infrastructure as part of its strategy to undermine a key funding source for Russia's war effort.
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
The phase-out of LNG could be enacted as a sanction or part of a road map presented by the European Commission next month. Restrictions on aluminum would be gradual, with a time frame yet to be determined, officials said.
Local residents said a fire broke out at the distillery, which is located near a military training ground in the village of Novaya Lyada.
The Telegram channel Vechernya Kazan claimed that the strike hit a liquified gas storage area, setting gas tanks on fire. Russian authorities confirmed that a fire broke out in the city as a result of the drone strike but claimed that it resulted in no significant damage.
President Volodymyr Zelensky signed a decree on Jan. 13 imposing new sanctions on the Russian financial sector. The sanctions target 140 distinct entities.
The Bryansk chemical plant produces gunpowder and explosives and is a key enterprise of the Russian military, according to Andrii Kovalenko, head of Ukraine's counter-disinformation center.
Afghanistan became the largest importer of Russian flour in 2024, Russia's state agricultural export agency Agroexport reported on Jan. 10.
Citing ten Russian officials, Meduza said the state of the country's economy was a particular "point of tension."
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 shoppers continue to access luxury Western brands despite sanctions imposed after the full-scale invasion of Ukraine, The Financial Times reported on Dec. 26.
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).
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.
"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.
Russian shopping centers have been hit hard by the departure of major foreign companies, rising operational costs, and increased competition from online marketplaces.
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 Comprehensive Program for the Development of the Air Transport Industry until 2030 envisioned producing 1,032 passenger aircraft between 2022 and the end of the decade.
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
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