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Putin’s WWII and Referendum Holidays Cost Russian Economy More Than $5Bln

The government added two extra public holidays to stage delayed Victory Day parade and assist constitutional vote.

Russia’s Top Firms Criticize Government’s Coronavirus Support Package

Businesses report excessive bureaucracy, daily requests for data and fear that political favors will be required in exchange for cheap loans and tax deferrals...

FALLEN OLIGARCH

Russia Steps Up Hunt To Seize Foreign Assets of ‘Putin’s Banker’

Alfa Group hired to track and seize overseas wealth in the latest development in legal battle between the Kremlin and Sergei Pugachev.

Moscow’s Tour Guides Pray for Miracle as Summer Season Ebbs Away

With Russia’s borders still shut, the country faces a year of lost tourist spending.

Investor Breathes New Life Into Major Arctic Coal Project

Russia plans to boost its domestic coal output by up to 50%, with the Arctic region playing a key role in these plans.

QUARANTINE? WHAT QUARANTINE?

Russians Rushing Back to Work as Pre-Virus Life Returns

Most workers are back in the office, while traffic data shows Moscow is one of the busiest cities in the world again.

Russia Will Raise Taxes on Top Earners, Putin Announces

Flat tax rate scrapped as rich Russians to help pay coronavirus bill.

Russia Keeps U.S. Investor Calvey Under House Arrest Despite Cancer Revelation

Calvey’s lawyer argued that keeping his client under house arrest violates his rights.

COMPLETELY UNPREPARED

Russia’s Coronavirus Recovery Plan Has No Space for Renewables

Without hydropower, just 0.16% of Russia’s electricity comes from renewable sources.

Russia Slashes Interest Rates to Record Low

Central Bank warns Russia’s economic contraction could be sharper than first feared.

'garbage kings'

Putin’s Inner Circle Corners $30Bln Garbage Reform Market – Report

Russians will reportedly pay $28.7 billion for waste disposal between the next 10 to 15 years.

PLEBISCITE PREPARATIONS?

Russia Mulls Tax Hike on Top Earners

Authorities consider scrapping the flat income tax system, but analysts suspect pre-referendum wheeze.

Russian Tech Industry Faces Coronavirus Brain Drain

Companies warn top talent will flood overseas, echoing 1990s brain drain.

SIGNS OF RECOVERY

Consumer Spending Approaches Pre-Coronavirus Levels

Sberbank payments data shows spending levels are just 8% down on last year.

CORONAVIRUS RECESSION

OPEC+ Deal Weighs on Russia’s Economic Recovery

Industrial production drops on oil cuts as lockdown restrictions lifted.

Russia's Gazprom to Reimburse Poland $1.5Bln

PGNiG will be reimbursed after it was overcharged by Gazprom for years, the Polish company said.

Russia’s Official Job Losses Pass 1M Since Coronavirus Outbreak

Unemployment claims have jumped 85%, but true numbers are likely much higher.

Rare Snowmelt Floods Power Station in Russian Far North

Warmer temperatures increasingly threaten Russia’s energy infrastructure.

Coronavirus Pushes Bank Profits to Record Low

Wave of loan restructuring hits Russian banking sector, but widespread losses are likely to be avoided.

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