Russia's Finance Ministry said the government lost roughly 230 billion rubles ($2.7 billion) in tax income compared to March 2024, with oil and gas revenues accounting for one-third of the total state income.
Key developments on April 2: * US sanctions Russian firms but lifts sanctions on Putin ally's wife * US sanctions network supplying Houthis with stolen Ukrainian grain, Russian arms * Trump admin officials say ceasefire unlikely in coming months, Reuters reports * Russian negotiator to meet Trump envoy in US on April 2, media
The Treasury Department did not provide a reason for Karina Rotenberg's removal from the sanctions list.
"The dominating view in the United States Senate is that Russia is the aggressor, and that this horrific war and Putin’s aggression must end now and be deterred in the future," the press release on April 1 said.
With much fanfare, the U.S. on March 25 announced it had brokered an agreement between Russia and Ukraine to "eliminate the use of force" in the Black Sea after two days of talks in Saudi Arabia. But while Kyiv said it was ready to abide by it straight away,
U.S. President Donald Trump is reportedly "pissed off" and "very angry" regarding Russian President Vladimir Putin's fixation over President Volodymyr Zelensky, NBC News reported on March 30.
According to U.S. Secretary of State Marco Rubio, some of the sanctions Russia wants lifted "are not ours — they belong to the European Union."
Russia's "unconditional withdrawal" from Ukraine is one of the main preconditions for changing or lifting EU sanctions, European Commission spokesperson Anitta Hipper told Ukrainian media outlet Suspilne on March 26.
The analysis covered over 300 foreign firms with "significant assets" and annual revenue of at least 1 billion rubles ($12 million) in Russia. Of these, 183 companies had fully withdrawn by the end of 2024.
The Kyiv Independent's Alisa Yurchenko went undercover as a representative of a Russian defense manufacturer to try buying American chips through Russian suppliers. Our investigation reveals how China helps Russia obtain the Western weapon components through gray import schemes.
“No one has officially applied yet. So, they are informally probing the ground,” Dmitry Medvedev, deputy chairman of Russia's Security Council, claimed.
The move may reassure European leaders, who have expressed concerns that the U.S. would attempt to broker a deal without their involvement.
Budapest had initially planned to veto the sanctions renewal, citing U.S. President Donald Trump's return to the White House and the possibility of a shift in U.S. policy toward Russia.
Western sanctions against Russia could be eventually eased if the step ensures security and justice for Ukraine, top Ukrainian sanctions official Vladyslav Vlasiuk told Politico in an interview published on March 17.
The Trump administration dealt a blow to Russia's energy sector last week after it let lapse an exemption allowing Russian banks to use U.S. payment systems for energy transactions. The move closed an important financial channel for Russian oil and gas exports and comes as Washington looks for ways
The European Union has reached a deal with Hungary to renew sanctions on more than 2,400 primarily Russian entities and individuals hours before they were set to expire on March 15, an EU official with knowledge of the negotiations told the Kyiv independent. The EU had been braced for
Sources suggest that Russia will likely continue using digital currencies in energy trade even if Western sanctions are lifted.
"They are taking a break for now while contemplating if there are ways to work around," a source told Reuters.
U.S. Secretary of State Marco Rubio emphasized that any final resolution to the war would have to involve European leaders "because of their sanctions that they've imposed."
Easing the price ceiling on Russian oil is allegedly one option under consideration, Bloomberg reported.
Chinese car exports to Russia surged sevenfold in 2023 compared to 2022, as Western sanctions over Moscow’s war against Ukraine cut Russia off from brands like Volkswagen, Toyota, and BMW.
The decline is attributed to Russia prioritizing weapons production for its own military, the impact of Western sanctions, and increased pressure from the U.S. and its allies on countries purchasing Russian arms, the report said.
The European Union is bracing for a potential Hungarian veto on extending sanctions against Russia, which are set to expire on March 15, Euractiv reported on March 10, citing sources familiar with the matter.
U.S. Senator Lindsey Graham added he will introduce legislation to sanction Russia's banking and energy sectors "next week" in a bid to bring Moscow to the negotiating table.
The United States vetoed a Group of Seven (G7) proposal to establish a joint task force that would tackle sanctions evasion related to Russia's 'shadow fleet,' Bloomberg reported on March 8.
The proposed recommendations focus on lifting restrictions on the aviation and banking industries, investments, and luxury goods shipments.
"This administration has kept the enhanced sanctions in place and will not hesitate to go 'all in' should it provide leverage in peace negotiations," U.S. Treasury Secretary Scott Bessent said on March 6.
U.S. President Donald Trump’s administration is reportedly ready to lift sanctions on Russia imposed after the start of the full-scale invasion, in a reversal of U.S. policy toward Moscow during its war against Ukraine. The White House is preparing a plan to potentially give Russia sanctions relief
"Well, I don’t think that’s right, actually," U.S. Vice President JD Vance replied to a journalist who suggested that Washington is exerting pressure on Kyiv but not on Moscow.
Financial troubles have forced eight coal companies in Russia's Kemerovo Oblast to halt operations, leaving hundreds of miners without pay for months, according to Governor Ilya Seredyuk.
Canada introduced new sanctions on March 2 against 10 Russian individuals and 21 entities, including paramilitary groups.
Matthias Warnig, who led Nord Stream 2’s parent company on behalf of Kremlin-controlled gas giant Gazprom until 2023, is reportedly trying to establish contact with U.S. President Donald Trump's team through American businessmen.
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