The ruble plunged on Friday, falling to an unprecedented 50 versus the U.S. dollar after OPEC's refusal to implement production cuts caused oil prices to nosedive.
Experts say an extended period of low oil prices could lead to recession, government spending cuts, a ballooning budget deficit and faltering production in the oil industry.
Russians are divided on whether to blame price rises, deteriorating quality of life and a worsening of Russia's economic health on Moscow's annexation of Crimea or on Western sanctions, a poll found.
It's a love affair that began in Imperial times, survived the Soviet Union and continues today. But is it really necessary to have mayonnaise with everything?
A vaguely worded bill allowing the country to deny entry to foreigners who have "offended" the state or its citizens could give Moscow greater power to shut its borders to critics of the Kremlin.
Arts & Ideas
Russia and Abroad
Itĺs a challenging time for German and Russian businesses, especially smaller and mid-sized companies. Some had recently localized production in Russia, making long-term commitments to the country. Large investment funds had been looking for prospects in the real estate market. Now some of these investors have put their plans on hold.
The Austrian season of culture, which took place in Russia in 2013 and 2014, gave artists from both countries an unprecedented opportunity for creative exchange and joint projects. The cooperation of institutes and artists from all areas of culture expanded far beyond the framework of particular events.
Moscow Times Guides
If you are like most travelers, probably the only time you stayed at an airport hotel was when a flight was delayed or cancelled Ś and the hotel was the sad end of a miserable day. First you and several thousand other stranded souls milled about the airport, hoping for good news.
A darling of foreign investors, the automobile industry is withering amid the general economic slowdown, but another star, pharmaceuticals, is on the horizon. The value of medicines produced last year increased 13 per cent, compared to the previous year, according to Industry and Trade Minister Denis Manturov.