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​​Moscow Luxury Housing Sales Hit Record $1.8Bln in 2024 – Vedomosti

Experts attribute the rise to the launch of major new luxury housing developments.

Russia’s Central Bank Steps Up Yuan Sales Amid Deficit

The Russian domestic market reportedly saw a yuan liquidity shortage this summer as some large exporters turned to borrowing in CNY amid ruble interest...
2 Min read

Two Major Buyers Said To Bid for Raiffeisenbank Russia

Sources said that RBI is prioritizing a sale to a non-sanctioned entity to minimize the risk of Raiffeisenbank being added to sanctions lists after the...
2 Min read

Analysts Raise Inflation Forecasts Due to Russian Budget

One of the strongest pro-inflationary factors is a 12% rise in housing and utility tariffs, which could add 0.5 percentage points to inflation in 2025...
2 Min read

Raiffeisen Slashes Correspondent Accounts in Russia

Such massive movements of correspondent accounts could be directly related to a significant reduction in the bank's cross-border transfers, analysts surveyed...
2 Min read

Russia Opens Criminal Case Against Cryptex, UAPS Payment System Creators

Last week, the U.S. sanctioned Cryptex and announced that it was charging two Russian nationals in connection with “operating billion-dollar money laundering...
2 Min read

Russia’s 2025 Budget Seen as Pro-Inflationary – Analysts

The 2025 budget boosts military spending by 25%, with the Russian Central Bank warning of fiscal risks to inflation.
1 Min read

Russia To Accept Mandarins Instead of Money Amid Payment Difficulties

Russian companies have established a barter trade system with Pakistan to facilitate economic exchanges without the need for monetary transactions.
2 Min read

Russian Manufacturing Activity Dips for First Time Since April 2022

The decline was driven by contractions in output, new orders and employment, according to S&P Global.
1 Min read

Iranian President Locks In Gas Pipeline Deal with Russia

Pezeshkian said the gas deal would help Iran become a “regional gas hub,” serving both nations’ interests and promoting sustainable development and...
2 Min read

Wildberries CEO Announces Successful Merger With Russ Group Following Dispute

Media report that the merger may be part of Russia’s wartime redistribution of assets, benefiting business figures linked to the Kremlin.
2 Min read

Gazprom Drops From Russia’s Most Profitable Company to Outside Forbes’ Top 100

But Forbes noted that the company’s record loss last year was “more on paper,” as Gazprom’s cash flow remained stable at $24.6 billion.
1 Min read

Beer Sales Surge in Russia

The rise in beer sales has been driven by growing prices for stronger alcoholic drinks like wine and spirits.
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Wildberries CEO’s Estranged Husband Says Kadyrov Helped Keep Him Alive

Despite initial reports of his arrest after the deadly shooting in Moscow last week, on Friday, Vladislav Bakalchuk said police released him from custody...
2 Min read

Russia Extends Limits on Overseas Money Transfers for Another 6 Months

The curbs were first introduced by President Vladimir Putin after the invasion of Ukraine to protect the economy from Western sanctions.
1 Min read

Wildberries CEO Changes Surname Amid Feud With Estranged Husband

Tatyana Bakalchuk said her surname "from today is once again Kim," adding that "the best choice is to always remain yourself."
2 Min read

Wildberries Founder’s Ex-Husband Arrested After Deadly Office Shootout

Vladislav Bakalchuk’s lawyers said he was charged with murder, attempted murder, vigilantism and an attempt on the life of a police officer.
2 Min read

Russian Business Lobby Calls for Construction in Protected Forests to Boost Domestic Tourism

But experts warn that relaxing forest protection laws could lead to illegal construction near deregulated ski resorts.
1 Min read

2 Killed, Several Injured After Shooting Outside Wildberries Office in Moscow

Shots rang out after a group of men led by the ex-husband of Wildberries founder Tatiana Bakalchuk attempted to forcibly enter the building. 
2 Min read
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