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Business
Kazakh Oil Exports Expected to Drop After Ukrainian Drones Attack Pipeline in Southern Russia
Russia’s state pipeline operator Transneft said repair work on the pipeline could take two months, with exports from Kazakhstan falling by 30%.
Can Putin Afford to Walk Away from Ukraine Peace Talks?
Russia has posted its largest budget deficit in three years and depleted its rainy day fund by 57% since the start of the war.
5 Min read
Business Lobby Urges Western Fashion Retailers to Return to Russia
Russia’s Shopping Centers Association said local retailers that replaced Uniqlo, H&M and Inditex have struggled to carve out a place in the market.
2 Min read
Russia’s Central Bank Holds Key Rate at 21%, Says Inflation Pressures ‘Remain High’
It was the second time in a row that policymakers held the key rate after raising it to the current all-time high in October.
2 Min read
Russian Holidaymakers Return to Europe as Demand for Trips Abroad Surges
A lack of direct flights and geopolitical tensions have not deterred Russian tourists from booking trips to Spain, France and Italy.
4 Min read
Russian Stock Market Surges on News of Putin-Trump Talks
Shares of major Russian companies, including Novatek, Gazprom, Rostelecom and Aeroflot, rose more than 8% by Thursday afternoon.
1 Min read
Russian Banks Slash Gold Reserves in 2024
The last time such a sharp decline in gold reserves was seen in 2020 during the Covid-19 pandemic.
2 Min read
Russian Gas Supplies to Europe via TurkStream Hit New All-Time High in January
TurkStream has become the only route delivering Russian gas to European markets since Ukraine ended its transit of Russian gas to Europe on Jan. 1.
4 Min read
Ruble on Track for Best Week Since October
Analysts attributed the ruble’s gains to increased dollar sales by Russian exporters and seasonal factors, including lower demand from importers.
1 Min read
Gazprom Announces Senior Personnel Reshuffles
The news comes after Russian media reported that Gazprom was considering laying off 1,600 employees.
2 Min read
Russian Oil and Gas Budget Revenues Up 17% Year-on-Year
The increase comes despite the Biden administration tightening sanctions on Russia’s oil and gas sector last month.
3 Min read
Russian Metals Major Norilsk Nickel's Profits Drop 37% in 2024
Nornickel attributed the top-line decline to lower market prices for nickel and platinum group metals.
2 Min read
Wildberries Co-Founders Finalize Divorce Amid Corporate Power Struggle
The Wildberries dispute escalated in September when a group of armed men tried breaking into the company’s Moscow offices.
2 Min read
Russia's Financial Flows Surge in January, Indicating Robust Economic Growth – Central Bank
All major industry groups witnessed growth, with the most substantial uptick coming in sectors driven by investment demand.
3 Min read
Russian FDI Falls to 15-Year Low as Russia Faces 'Wrong Kind of Growth'
Much of the fall is related to the exit or winding down of operations of Western firms, especially in automotive and retail.
5 Min read
Germany Looks to Repurpose Nord Stream 2 for Green Gas Project
The pipeline, which was originally meant to double gas shipment capacity from Russia to Europe, could transport green hydrogen or natural gas from Finland...
2 Min read
Inflation Remains ‘Challenge’ for Russian Economy, Putin Admits
“We need to do everything necessary to ensure balanced growth,” the Kremlin leader said during a meeting with Prime Minister Mikhail Mishustin.
2 Min read
Bank Deposits Are Back as Russians’ Favorite Investment in 2024
Depositing money in high-yielding bank accounts is back as Russians’ favorite store of wealth to protect their life savings against the ravages of high...
6 Min read
Switzerland Unfreezes $15M in Seized Assets of Russians Implicated in Magnitsky Case
Hermitage Capital Management warned that releasing the previously frozen assets would violate U.S., British, Canadian and Australian sanctions.
1 Min read
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