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Putin Approves Emergency Support Measures for Ailing Coal Industry

Russia’s coal industry has been hit hard by Western sanctions, high production costs, falling global prices and logistical bottlenecks.

Moscow Court Jails Exiled ‘Putin Banker’ Sergei Pugachev 14 Years in Absentia

Pugachev, once a powerful senator and founder of Mezhprombank, was known in the 2000s as “Putin’s banker” due to his close ties to the Kremlin.
1 Min read

India Approves More Russian Insurers to Provide Marine Cover

India now recognizes eight Russian entities eligible to provide protection and indemnity coverage for ships.
2 Min read

Alrosa Discovers Russia's 'Largest-Ever' Diamond as Mir Mine Reopens

The 468-carat, amber-colored diamond has been named “80 Years of Victory in the Great Patriotic War.”
2 Min read

Putin and Xi to Discuss Stalled Power of Siberia 2 Pipeline in Moscow – Bloomberg

Despite the revived talks, a final agreement is not expected to be signed during Xi’s visit, sources told Bloomberg.
2 Min read

EU Unveils Plan to End All Russian Gas Imports by 2027

EU officials admit that phasing out Russian energy is easier said than done, as some member states are more dependent on imports than others.
3 Min read

Russia Eyes Budget Cuts as Sliding Oil Prices Drive Deficit Upward

The move would likely force the government to slash spending on civilian programs even further.
3 Min read

Wholesale Potato Prices Hit Record Highs in Russia

As of late April, potatoes harvested in 2024 cost an average of $0.57 per kilogram on the wholesale market — up 85.2% since January.
1 Min read

Russian Manufacturing Downturn Eases in April, But Remains Underwater

After strong economic gains in 2024, the Central Bank and Finance Ministry have engineered a slowdown to tackle stubbornly high inflation.
3 Min read

Russia’s Quarterly GDP May Have Declined in Q1 for First Time Since 2022, Experts Say

Analysts cited weak industrial output and low oil prices as key drivers of the downturn.
1 Min read

Gazprom Returns to Profit in 2024 After Record Loss

The company reported a net profit of $14.9 billion last year, reversing a $7 billion loss in 2023, which was its first net loss in a quarter-century.
2 Min read

Russia Triples 2025 Budget Deficit Forecast to 1.7% of GDP

This year’s projected deficit is the country’s second-largest in nominal terms since the pandemic year of 2020, when the gap reached $55 billion.
1 Min read

McDonald's and Coca-Cola Rule Out Return to Russia

The statements pour cold water on recent media reports and speculation on social media that Western brands were preparing to re-enter the market.
2 Min read

Retail Giant Magnit to Buy Premium Supermarket Chain Azbuka Vkusa for $490M

As part of the deal, Magnit will also acquire five kitchen factories and three distribution centers in Moscow and St. Petersburg, sources told RBC.
1 Min read

Trump Tariffs Could Undercut Russian Industry, Central Bank Adviser Warns

If the U.S. and China fail to reach a resolution, Beijing could devalue the yuan, making Chinese goods more competitive and threatening Russia’s domestic...
2 Min read

Russia's Largest Banks Face Sharp Rise in Loan Defaults

At Sberbank, the volume of mortgage loans showing signs of distress surged 90% between January and March.
2 Min read

Russian State Bank Takes Over Leading Online Marketplace Avito

The move is part of a broader wave of strategic e-commerce acquisitions that has seen Russia’s digital economy increasingly come under state control...
4 Min read

Russian Central Bank Holds Key Rate Despite Fears of Economic Slowdown

The high lending rates have put increasing pressure on businesses, with top corporate leaders urging the central bank to ease monetary policy.
2 Min read

This Belarusian Firm Supplies Western Tech Giants Like Apple – And Russia's Defense Industry

Izovac and its affiliates have supplied some $200 million in equipment to Russian defense contractors since the invasion of Ukraine, according to an investigation...
4 Min read
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