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CORONAVIRUS SPENDING

Russia Prices Economic Recovery Plan at $70Bln

Government ramps up the next phase of economic response to the coronavirus.

CORONAVIRUS RECESSION

60% of Russians Have Lost Income Due to Coronavirus

The number of unemployed could be almost 10 million — five times the official rate.

Russian Ruble Approaches Pre-Coronavirus Levels

Ruble hits three-month high as oil prices stabilize.

SpaceX Launch Is ‘Wakeup Call’ For Russia’s Space Program

A decade of cooperation between the U.S. and Russia to send astronauts into space could be ending.

Russia Wants to Spark a Domestic Tourism Boom. Will It Work?

The government is telling Russians to explore their homeland, and borders remain shut.

Gazprom Could Lose $20Bln on Flagship China Pipeline: Lenta

Investigation shows production shortfalls threaten flagship Moscow-Beijing energy deal

Only 10% of Russian Businesses Have Received Coronavirus Support

Putin’s business ombudsman warned him that six in ten companies say they are not likely to survive the crisis.

Bike Sales Spike in Movement-Starved Russia

Russia’s largest online retailer saw sporting goods sales jump sixfold compared to the same period in 2019.

Russian Banks Import Most Dollars Since 2014 Crisis

Lenders reported a surge in demand for U.S. dollars as financial markets collapsed in March.

‘UNPRECEDENTED CHALLENGES’

Foreign Firms Seek Level Playing Field in Russia’s Coronavirus Response

The Kremlin must not ignore foreign economic contributions, says new AEB chief Tadzio Schilling.

Rosneft Launches $610M Defamation Lawsuit Against Russian Media Outlet

Oil giant seeks damages over RBC report on Venezuelean exit deal.

Russian Ruble Hits 10-Week High on Investor Optimism

The Finance Ministry sold a record volume of government bonds Wednesday, and the government is reportedly mulling increasing foreign currency sales.

$50M in Fabergé Antiquities Shipped to Panama After Oligarch Hit With Sanctions: Reports

Viktor Vekselberg bought nine Fabergé Easter eggs in 2004.

Russia’s Unemployment Rate Jumps 30%

Living standards are expected to be the main victim of the coronavirus recession.

CORONAVIRUS RECESSION

Russian GDP Falls 28% in April

Non-working period and oil price crash cut Russia’s economic output by $33 billion.

Former Yukos Shareholders Seize Vodka Brands in $50Bln Legal Fight

The Russian government is fighting the group in the Dutch courts.

CORONAVIRUS RECESSION

Profit Slumps Herald More Trouble Ahead for Russia’s Corporate Giants

Russian companies’ first quarter financial results are already showing the impact of the coronavirus. The worst is yet to come.

a change from chai

Tea-Loving Russians Become Coffee Drinkers: Research

Russians, long known for their love of tea, consumed more coffee than tea for the first time last year.

Ukraine Set for IMF Support After Approving Anti-Kolomoisky Banking Law

New law opens door for $5.5 billion in loans from IMF.

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