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wrestling with costs

Russia Curbs Gas, Diesel Exports to Stabilize Fuel Prices

“Temporary restrictions will help saturate the fuel market, which will in turn reduce prices for consumers,” Russia’s cabinet of ministers said.

turnover tumble

U.S.-Russia Trade Hits Two-Decade Low

The United States ended “normal” trade relations with Moscow last spring, as President Joe Biden introduced steep tariff hikes on Russian imports...

Gazprom Delivers LNG to China in Arctic Sea Route First

The route "allows a substantial reduction in the time it takes to make LNG deliveries to Asia-Pacific countries," the Russian energy giant said.

Russia Raises Interest Rates to 13% Amid Inflation Concerns

The move is the second rate hike in two months following an emergency meeting in August held after the Russian ruble fell below 100 against the U.S. dollar...

circumvented restrictions

Rich Russians Still Transferring Cash to Swiss Bank Accounts – Media

Family members of a tycoon publicly backing the war were among the Russians found to be depositing millions into Swiss bank accounts.

Falling Ruble Dents Russia’s Image Among Central Asian Migrant Workers

The Russian economy relies on millions of migrant workers. A weak currency has many looking elsewhere for opportunities.

soaring expenses

Russian Airlines Bear Costs of Flights Rerouted By Drone Strikes – RBC

An extra hour of flight time costs about $8,000 for a typical Boeing 737-800 in the low-budget airline Pobeda’s fleet, according to analysts.

British American Tobacco Finalizes Exit From Russia

The maker of Kent and Rothmans cigarettes said the deal would keep its estimated 3,000 Russian and Belarusian employees afloat for at least two years...

power of siberia 2

Russia to Finalize Route for Gas Pipeline to China

Moscow plans to start building the pipeline next year, but the schedule for its completion remains unclear.

monetary measures

Russia Steps Up Support for Sagging Ruble

Russia's Central Bank said that between Sept. 14 and 22 it would sell 21.4 billion rubles ($218.5 million) worth of foreign currency each day.

currency cut-off

Binance Restricts Russian Clients to Ruble Transactions

Binance’s restrictions follow reports on a U.S. Justice Department investigation into the company's possible violation of sanctions against Russia....

Heineken Exits Russia, Sells Operations for 1 Euro

The company apologized in March for creating "ambiguity" on its vow to leave the country, saying it was hoping to secure jobs for its Russian employees...

Russian Airlines Import $1.2Bln Worth of Western Parts Despite Sanctions – Reuters

The actual value of the imports is likely higher as calculations only accounted for direct shipments to Russian airlines and their maintenance units.

Raiffeisen’s Russian Division Imposes 50% Commission on Incoming Dollar Transfers

The minimum commission charged will be $1,000, up to a maximum of $10,000.

'challenging environment'

Domino’s Pizza Files for Bankruptcy in Russia

The company's regional franchise operator reportedly failed to sell its Russian business but did not explain the reason for the failed sale.

Russia Files Lawsuit Against Country's Wealthiest Businessman

Andrei Melnichenko is accused of “corrupt collusion” in a deal to buy a Siberian power plant operator from an ex-minister who is currently on trial...

response measures

Putin Opts Against Stricter Capital Controls Amid Ruble's Slide – Vedomosti

Exporters had “informally” agreed to raise foreign currency sales, allowing the government to avoid the “last resort” option of imposing capital...

emergency meeting

Russia Raises Interest Rates to 12% After Ruble Plummets

The ruble gained strongly on the decision, rising by more than 2% to around 95 against the U.S. dollar.

Kremlin Unfazed as Ruble Crashes Through 100 vs. Dollar

A weaker currency could help fund Russia’s invasion of Ukraine, but it will trigger an inflationary spiral at home.

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