Support The Moscow Times!
Contribute today

Business

green shoots

Russian Manufacturing Activity Hits 6-Year High

Russian manufacturing firms recorded their fastest rate of growth last month in almost six years due to new export orders and increased demand from domestic...
secretive case

Russian Ex-Billionaire, Politician Brother Handed Lengthy Prison Terms for Fraud

A Moscow court has sentenced ex-billionaire Ziyavudin Magomedov to 19 years in a maximum-security prison on charges of embezzling state funds and organizing...
show's over

Aeroflot Halts In-Flight Media Streaming Due to Western Sanctions

Russia's flagship airline Aeroflot said Thursday that it is no longer offering in-flight film, television and music streaming to passengers due to Western...
Western Sanctions

Swiss Freeze Nearly $8Bln in Russian Assets

Switzerland said Thursday that it has to date frozen a total of 7.5 billion Swiss francs ($7.9 billion) in Russian assets, in connection with the sanctions...
parallel imports

Russian Post Launches Delivery of Departed European Fashion Brands

Russia’s postal service has launched deliveries of European fashion brands like Zara and H&M that have exited or reduced their presence in Russia...
restructing plan

Putin Ally Alexei Kudrin Set to Run Tech Giant Yandex – Reports

Alexei Kudrin, a longtime ally of President Vladimir Putin, is expected to assume a leadership position in the restructuring of Russian tech giant Yandex...
foreign deposits

Russia’s 2022 Cash Outflow Hits All-Time High

Russians have moved a record amount of cash out of the country so far this year, state media has reported. The equivalent of $32 billion has been...
still thriving

Turkey Becomes New Route for Russian Oil to EU – Think Tank

Moscow's revenues from fossil fuel exports fell in October to their lowest levels since the Ukraine invasion, but Turkey has become a new route for Russian...
state control

U.S. Downgrades Russia from ‘Market Economy’ Status

The United States has stripped Russia of its classification as a “market economy” and downgraded it to a non-market country, the Commerce Department...
'no path' forward

Mazda Pulls Out of Russia Joint Venture Over Ukraine War

Japanese carmaker Mazda said Thursday it is pulling out of its joint venture in Russia because of the war in Ukraine, having ceased operations in the country...
increasing income

Tech Giant Yandex Reports Rising Revenues Despite Sanctions

Russian tech group Yandex announced on Thursday that its revenues continued to climb during the third quarter, despite Russia being under Western...
cutting ties

Dutch Owner to Sell Russian Telecoms Firm Vimpelcom

The Dutch firm that owns Russian telecoms operator Vimpelcom will sell its Russian operations, the company announced Wednesday, reportedly due to the growing...
untenable operations

Bridgestone Seeks Local Buyer for Russian Business

Japanese tiremaker Bridgestone said Monday it was seeking a local buyer for its business in Russia due to "general uncertainty and the ongoing...
expected move

Russian Central Bank Maintains Key Rate at 7.5%

The Russian Central Bank kept its key rate at 7.5% on Friday, an expected measure aimed at supporting the economy against a global trend of rising borrowing...
'sovereignty' of resources

Rosneft Head Sechin Slams EU’s Energy Price Cap

A Western cap on Russian energy prices destroys individual countries’ sovereignty and plays into the hands of the United States, Igor Sechin...
'nominal value'

Ford to Exit Russia With Joint Venture Sale

U.S. automaker Ford Motor announced Wednesday it has finalized a full exit from Russia with the sale of its minority stake in a Moscow region-based joint...
latest departure

Mercedes-Benz to Sell Off Russian Assets to Local Investor

German carmaker Mercedes-Benz is expected to sell its Russian assets to a local investor, the Russian Industry and Trade Ministry said Wednesday, becoming...
market exit

Zara Owner Inditex Says to Sell Russian Stores

Spanish fashion retailer Inditex said Tuesday would sell its stores in Russia, seven months after the Zara owner halted its operations in the country following...
'Rostic's' to go

KFC Owner Yum Brands Nears Full Russia Exit With Sales Deal

Yum Brands Inc announced Monday it has sold its KFC restaurants and franchise in Russia to a local buyer as one of the world’s largest restaurant...
View more articles