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Business
Russia Plans $800M Aid Package for Struggling Coal Industry
Under the plan, coal companies would be allowed to defer mineral extraction tax payments and certain insurance contributions until Nov. 30.
Russian Billionaire Puts $216M Bank Stake for Sale on Online Marketplace – Kommersant
The 5% stake in Sovcombank put up for sale on Avito belongs to billionaire Mikhail Klyukin, Kommersant reported.
2 Min read
Luxury Car Sales Surge in Russia Despite Broader Market Slump
Luxury vehicle sales in Russia rose 19% from January through June year-on-year.
1 Min read
Russian Tech Executive Arrested in Absentia on Bribery Charges
Sergei Matsotsky is a co-founder of Russian IT giant IBS and a leading figure in the country’s tech sector.
1 Min read
Russia Moves to Allow Tax Debt Collection Without Court Approval
Around 23 million Russians, nearly a quarter of the working-age population, currently owe taxes.
2 Min read
Russian Steel Giant Reports Sharp Output Decline
Russia’s total steel production fell 8.6% in 2024 and another 7.2% in early 2025, the steepest drop among major producing countries.
2 Min read
Telegram Begins Legal Process of Opening Office in Russia
Until now, the developer of the Telegram messaging app had taken minimal steps to comply with Russian localization laws.
2 Min read
Russia’s Largest Banks Exploring Bailouts as Bad Loans Grow – Bloomberg
The discussions are said to have become “more urgent throughout the banking industry” as the growing volume of bad loans sparks fears that some of...
2 Min read
Draft Law Would Grant Putin New Powers to Block Departed Foreign Companies From Returning
The updated draft law allows Putin to establish the conditions under which foreign firms can be barred from repurchasing their former businesses.
2 Min read
India Says It Can Replace Russian Oil if U.S. Sanctions Disrupt Supplies
Russia currently accounts for roughly 35% of India’s total oil imports, making it the country’s top supplier.
1 Min read
Majority of Russians Unwilling to Adopt Digital Ruble, Survey Finds
The Central Bank’s blockchain-based digital ruble is being developed as a domestic payment alternative to bypass foreign banks and Western financial...
2 Min read
Metallurgical Plants in Occupied Ukraine Seek Russian State Aid Amid Industry Crisis
Metallurgical and coking plants in the Russian-occupied Donetsk and Luhansk regions face declining demand, falling prices and soaring production costs...
2 Min read
Russian Importers Hit by VTB Account Freezes, Disrupting China Trade
Employees at five importing firms reported that VTB blocked their accounts between mid-May and July.
2 Min read
Sales of New-Build Homes Plummet in Russia as Mortgage Subsidy Ends
The end of a popular mortgage subsidy program and high borrowing costs have pushed many buyers out of the market.
2 Min read
State Prosecutors Seek to Seize Latvian Co-Owner’s Stake in Bread Bakery Over ‘Extremism’ Claims
Russian authorities accuse businessman Normunds Bomis, who holds a 50% stake in Rizhsky Khleb, of helping finance Ukraine’s Azov Brigade.
2 Min read
Top Russian University Launches Master’s Program on Sanctions Circumvention
The two-year program at Moscow’s Higher School of Economics (HSE) is described as the first of its kind in Russia.
2 Min read
Kazakhstan Moves Forward Alone on Power Plant Construction as Russia Faces Financing Delays
Delays in securing funding from Moscow continue to stall a $2.7 billion energy deal between the two countries.
2 Min read
Russian Parliament Approves Return of State-Backed Microlenders to Mortgage Market
Lawmakers had removed more than 30 microfinance organizations from the list of 47 authorized mortgage lenders in May 2024 to limit lending outside the...
1 Min read
Russian Coal Industry Faces Mounting Losses as Dozens of Companies Near Collapse
The Russian National Credit Rating Agency has suggested the industry could experience a wave of consolidation.
2 Min read
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