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exiting the country

Michelin Sells Russian Tire Business to Local Distributor

The French manufacturer's two local companies will be sold to Russia's Power International Tires for an undisclosed sum. 
sphere of influence

Kazakh President Warns Against Further Integration of Russia-Led Economic Bloc

Addressing Putin, Kassym-Jomart Tokayev appeared to criticize Belarus' loss of sovereignty.
2 Min read
no-flight MAKS

Russia Calls Off Major Air Show Amid Security Fears – Reports

MAKS looks set to either be postponed to 2024 or reformatted as a "conference."
2 Min read
new allies

​​Russia Central Bank Head Visits Iran to Strengthen Bilateral Banking Ties

The two heavily sanctioned countries are seeking closer economic ties.
1 Min read
tax increase

Russian Energy Giant Gazprom Posts Big Drop in Profit

The company reported a profit of 1.2 trillion rubles ($15 billion) for 2022, down 41% from the previous year.
2 Min read
strategic partnership

Russian PM in China for Talks With Xi, Business Forum

The two countries are set to ink a series of trade deals during the Russian delegation's visit.
3 Min read
'consortium of billionaires'

Putin Signs Off on Sanctioned Tycoons’ Shared Yandex Stake – Reports

Russia’s richest man Vladimir Potanin, oil tycoon Vagit Alekperov, steel magnate Alexei Mordashov and VTB Bank will take on the majority stake.
2 Min read
supply chain blockage

Russian Economy Pressured as Hundreds More Added to U.S. Blacklist

The new sanctions took particular aim at the firms and research institutes involved in Moscow's investments into future energy production.
2 Min read
off the shelves

Famed Armenian Cognac Brand Halts Exports to Russia

The Russian market accounts for about 80% of all Ararat exports.
1 Min read
exiting the market

Volkswagen to Sell Russian Assets to Local Company

Like other major car companies, Volkswagen halted its operations in Russia last year after Moscow's invasion of Ukraine.
2 Min read
seeking deals

Kazan Economic Forum Seeks to Lure Islamic Investment as Moscow Isolated Over Ukraine

Russia is seeking out new sources of foreign investment after its invasion of Ukraine sparked punishing sanctions from the West.
2 Min read
gdp shrinks

Russia Says Economy Contracts 1.9% in First Quarter

The economy was weighed down by another wave of sanctions imposed over its offensive in Ukraine.
2 Min read
tax loophole

Russia Probing Widespread Fraud in Mariupol Reconstruction

Dozens of companies in occupied Mariupol have been involved in schemes to avoid paying VAT, The Moscow Times’ Russian service reported.
2 Min read
revenue source

Russian Oil Exports Hit Post-Invasion High – IEA

Revenues in April were still 27% lower than the same month in 2022 despite the boosted volumes.
2 Min read
UAV craze

Drone Sales Surge Twentyfold in Russia

Russia’s largest online retailer recorded an increase in sales in January-March 2023 to 26,700 drones sold.
1 Min read
last call

Drinks Group Pernod Ricard Announces Russia Pullout

The French drinks giant had faced public pressure over its continued business activities in Russia.
1 Min read
booming business

Unilever Doubles Russia Profits, Boosts Ad Sales Despite Divestment Pledge

The British consumer goods giant had pledged to stop profiting from the Russian market after Moscow invaded Ukraine last year.
2 Min read
In depth

Russian Confectioner Fined for Anti-War Cakes Vows to Keep Baking

If convicted a second time under draconian wartime censorship laws, Anastasia Chernysheva could be sent to prison for up to seven years.
3 Min read
in the red

Russia’s Budget Deficit Surpasses 2023 Target in January-April

The federal budget deficit has already reached $45 billion — higher than the government's target of $43 billion for the entire year.
1 Min read
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