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Business
command economy
Russia's Central Bank Under Pressure to Be 'More Upbeat' – Bloomberg
President Vladimir Putin’s government is pressuring Russia’s Central Bank to be “more upbeat” about the country’s economy...
in the red
Russian Budget Deficit Swells on Increased War Spending, Falling Energy Revenues
Russia's budget deficit surged to 1.76 trillion rubles ($24.8 billion) in January 2023, the Finance Ministry said Monday, as Western sanctions cut into...
europe-funded deal
Georgian Authorities Face Backlash Over Russian Purchases
News that Tbilisi is moving forward with the purchase of Russian-made subway cars has been met with outrage in Georgia, where dealings with the northern...
mixed picture
5 Graphs Explaining Russia’s Wartime Economy
As Russian officials play down the economic impact of President Vladimir Putin’s order to invade Ukraine, the emergence of end-of-year data from...
blocked revenue
Russia Enacts Oil Sale Ban on Price Cap-Compliant Countries
Russia’s ban on oil exports to countries and companies that adhere to a Western price cap aiming to constrain the Kremlin’s energy revenues...
positive growth
IMF Reverses Negative 2023 Forecast for Russian Economy
The Russian economy is predicted to grow 0.3% in 2023 despite setbacks from unprecedented Western sanctions over the Ukraine invasion, according to data...
white, black or green
Russia’s Top Automaker Hit By Car Paint Shortage
Russia’s top carmaker is facing a car paint shortage, limiting color options for car-buyers to white, black and dark green, Vedomosti business newspaper...
Pivot to Asia
Uzbekistan to Import Russian Gas for First Time Amid Energy Crisis
Uzbekistan will import natural gas from Russia for the first time ever as the Central Asian country faces an energy crisis, the authorities in Tashkent...
limited impact
Only 8.5% of Western Firms Have Left Russia – Study
Despite widespread outrage over Moscow's war in Ukraine, only a small number of Western companies have deserted Russia, according to a Swiss study. Researchers...
no more obstacles
Russia’s Sberbank Launches Operations in Annexed Crimea
Russia’s largest bank Sberbank is launching operations in Crimea for the first time since Moscow annexed the peninsula from Ukraine in 2014, Russian...
business boost
Kremlin: Russian Firms Can Ignore 'Unfriendly' Foreign Shareholders
The Kremlin has given major Russian companies permission to disregard the votes of shareholders from so-called "unfriendly" countries this year as a means...
supply and demand
Russian McDonald's Spinoff Sets Sights on Kazakhstan Market
The owner of the rebranded Russian McDonald’s is seeking to expand into Kazakhstan, the state-run RIA Novosti news agency reported Monday. The U...
crunching the numbers
Russia’s December Fiscal Deficit at Record-High – Bloomberg
Russia’s monthly fiscal deficit reached a record 3.9 trillion rubles in December amid the EU-imposed ban on seaborne crude oil exports and the increasing...
gradual decline
What Really Happened With Russia’s Economy in 2022?
While many analysts and observers expected the Russian economy to collapse under the weight of the Ukraine war and a flood of Western sanctions, the country...
no breaks
Russian Defense Chief Says Military Factories Working ‘Around the Clock’
Factories in Russia producing military equipment are working nonstop and have withdrawn New Year holidays from employees, the head of state defense military...
declining volumes
Russian Gas Exports Outside Ex-Soviet States Fell 45.5% in 2022
Russian gas exports to countries outside a group of former Soviet republics plunged by 45.5% in 2022, figures from gas giant Gazprom showed Monday. Gazprom...
cutting losses
Yandex Co-Founder Bids Farewell to Partitioned Russian Tech Giant
The co-founder of Yandex, Arkady Volozh, announced on Friday that he was leaving the Russian tech giant, addressing a farewell letter to the firm&rsquo...
'super volatility'
Gazprom Exports to Europe Nearly Halve in 2022
Russian energy giant Gazprom’s gas exports to Europe nearly halved in 2022, according to calculations based on company data published on Wednesday...
taking stock
Gazprom CEO Admits 'Difficult' Year for Russian Energy Giant
The head of Gazprom admitted on Wednesday that the Russian energy giant had experienced a challenging year as the company sought new markets following...
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