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Business

Putin Urges Businesses to Back Russian Innovation as State Funding Shrinks

Declining state funding and falling patent applications are hampering the Kremlin’s push for technological self-sufficiency.

Russian Wheat Exports Brace for Decade Low in August Amid Black Sea Attacks

Russia and Ukraine have been attacking each other’s agricultural export facilities and commercial vessels in the Black Sea in recent weeks, driving wheat...
2 Min read

Russia’s Central Bank Proposes Framework for Publicly Trading Major Cryptocurrencies

The proposal would allow investors to trade Bitcoin, Ether and Tether on official Russian exchanges, establishing a regulated infrastructure for cryptocurrency...
1 Min read

Russia’s Rosspirtprom Buys Seized Distillery at Half Original Asking Price

The acquisition further consolidates Russia’s ethanol industry under a company that has been linked to billionaire Arkady Rotenberg.
2 Min read

Mongolia Says Russia Agreed to Send Emergency Fuel Supplies Amid Shortages

Russia accounts for up to 97% of Mongolia’s gasoline and diesel imports. 
2 Min read

Russian Central Bank Urges Lenders to Support Businesses Impacted by Wildberries Warehouse Attacks

A senior executive at Sberbank said the state-backed lender has already received around 2,000 applications for loan restructuring from business owners...
1 Min read

Russian Household Incomes Stall as Wartime Economy Loses Momentum

The reversal comes as Russia’s broader economy grinds to a near standstill, civilian industries remain mired in recession and businesses face falling...
3 Min read

U.K. Sanctions Ozon Bank and ‘Shadow Fleet’ Vessels in Latest Crackdown

Ozon Bank said the move would not affect its operations since it does not hold foreign assets or use the international SWIFT messaging network and conducts...
1 Min read

Can ‘Russia’s Amazon’ Survive Ukraine’s Drone Campaign?

Russia’s online retail sector has thrived since the invasion of Ukraine. The attacks on Wildberries now threaten to disrupt that growth. 
4 Min read

Putin Signs Law Targeting Exiled Russians Convicted in Absentia

The law imposes sweeping restrictions on Russians who have been convicted in absentia, including under legislation used to prosecute Kremlin critics.
3 Min read

Syria and Iraq Resume Direct Flights to Russia

The resumed Syrian Airlines flights to Moscow mark the first resumption of direct air travel between the two countries since the fall of the Assad regime...
2 Min read

Gazprom Neft Lifts Fuel Purchasing Limits Across 13 Russian Regions

Gazprom Neft is also now allowing customers to fill up gasoline canisters at the pump once again, something major gas stations banned at the height of...
2 Min read

Russia’s Only Domestic TV Maker Declared Bankrupt

Consumer electronics retailer DNS filed a bankruptcy petition against the manufacturer, Kvant, last June over an unpaid debt of more than $8 million.
1 Min read

Russia Opens Antitrust Case Against Apple Over App Preinstallation Rules

Apple could face a fine of up to 4 billion rubles ($49.6 million) if found to have violated Russian competition law.
2 Min read

Russian Oil Refining Falls to 24-Year Low After Ukrainian Drone Strikes – Bloomberg

If eight tankers linked to the Caspian Pipeline Consortium terminal are included, July would rank as the busiest month for attacks on oil assets connected...
3 Min read

Russian Banks Lack Cash to Buy Government Debt, Sberbank Executive Says

Sberbank’s vice president and chief financial officer, said cash withdrawals from the banking system had reached about $25.2 billion since the start...
3 Min read

Russian Mobile Carriers Waive Data Fees for State-Backed Max Messenger

Starting Aug. 1, voice calls, messaging, file transfers and other digital services within Max will be free of charge for subscribers of MTS, MegaFon, Beeline...
1 Min read
Feature

For Russians, a Summer Vacation Abroad Is Now a Luxury Few Can Afford

Economic uncertainty and risks posed by Ukrainian drone strikes are reshaping how Russians are spending their long-awaited vacations. 
5 Min read

Russia's Sberbank Warns of Rising Corporate Credit Risks as Bad Loans Increase

Meanwhile, Sberbank cut its 2026 GDP growth forecast to 0%-0.5% from a previous estimate of 0.5%-1%.
3 Min read
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