Support The Moscow Times!
Contribute today

Business

Russian Firms Plan Price Increases Ahead of Tax Changes – Central Bank Survey

Businesses plan to lift prices by an annualized 6.3% over the next three months, up from 4.2% in October and 2.9% in September.

Moscow Court Arrests Ex-Skolkovo Technopark Head on Bribery Mediation Charges

Renat Batyrov faces up to 12 years in prison if convicted.
1 Min read

Russian Companies Face Record Debt Burden as High Rates Squeeze Profits – Think Tank

“The burden from interest payments on corporate income is at an extremely high level,” the Kremlin-linked think tank CMASF said.
3 Min read

Gazprom Takes Control of Luxury Carmaker Aurus After Buying 51% Stake

The new investor is reportedly expected to commit additional funds to develop the brand, whose limousines are used by Putin and senior officials.
2 Min read

Chevron Weighs Purchase of Lukoil’s Overseas Assets After U.S. Eases Restrictions – Reuters

Chevron is assessing the purchase of Lukoil assets that overlap with its own interests, Reuters’ sources said.
2 Min read

Russian Warehouse Market Sees Sharp Decline as Economy Slows

Companies have shifted from expansion to consolidating existing space due to slower economic growth and high borrowing costs.
2 Min read

Russian Oil Prices Sink as India and China Cut Purchases Ahead of U.S. Sanctions Deadline

The discount on Urals versus North Sea benchmark Brent widened to $23.51 per barrel, the largest since March 2023.
2 Min read

Novorossiysk Oil Terminal Resumes Operations After Ukrainian Attack

Oil prices dipped slightly amid the news, while investors were said to be assessing the long-term impacts of the Ukrainian attacks on crude exports.
2 Min read

Russia’s Rusal to Shutter Major Silicon Plant as Industry Cuts Deepen

The cutback adds to a growing list of Russian industrial firms reducing hours, output or staffing as economic pressures mount.
2 Min read

Thousands of Car Carriers Backed Up at Russia’s Borders as Importers Rush to Beat Fee Hike

Roughly 3,000-4,000 car transporters carrying up to 10 vehicles each are currently stuck in lines at border checkpoints.
2 Min read

Russian Economy Barely Grows in Q3 as War Spending Bites

Bloated military spending had initially supported the Russian economy. But it also spurred inflation, which now weighs on growth.
2 Min read

Russian Seaborne Oil Exports Drop to 3-Month Low Amid New U.S. Sanctions

Analysts say the slump in exports reflects a temporary dislocation in supply chains rather than a collapse in demand.
2 Min read
opinion Tatyana Rybakova

Congratulations to Russia's Agriculture Ministry for Soaring Food Prices

With the industry regulated into a corner, the price of staples like sunflower oil and rye are climbing. Officials are only making things worse.
6 Min read

Wildberries Targets First African Market With Ethiopian Expansion

The cooperation agreement with Ethiopia’s largest state-owned investment firm signals the Russian e-commerce giant’s push into Africa.
1 Min read

Putin Approves Sale of Citibank’s Russian Unit to Renaissance Capital

A decree allows Renaissance Capital to acquire 100% of Citibank Russia from its parent company without any additional regulatory approvals.
1 Min read

Finance Ministry to Debut Borrowing in Chinese Yuan in December

The ministry said it would offer two series of OFZ bonds, each worth 10,000 yuan ($1,400), with maturities ranging from three to seven years and interest...
2 Min read

Lukoil Halts Iraqi Operations After Sanctions, Declares Force Majeure – Reuters

According to Reuters, Iraq’s state oil authorities have frozen all cash and crude payments to Lukoil in compliance with U.S. and British sanctions imposed...
2 Min read

Bulgaria Adopts Law to Take Control of Russia's Lukoil Refinery

Lukoil has owned the Neftochim plant, the largest oil refinery in the Balkans, since 1999.
2 Min read

Russia’s Economy Could Slip Into Recession by Year-End, Central Bank Warns

A quarterly contraction would mark Russia’s first year-on-year GDP decline since the first quarter of 2023, when the economy shrank by 1.6%.
2 Min read
View more articles