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Russia Puts $2.3Bln of Data Center Projects on Hold as High Rates and Power Shortages Bite

The slowdown underscores the growing tension between Russia's ambitions to build domestic AI capabilities and the infrastructure constraints facing the...

State Duma Passes Bill Delaying VAT Tax Hikes for Small Businesses

Under the legislation, small businesses using Russia’s simplified tax system would only have to pay the national value-added tax if their revenue exceeds...

Russia Hands Control of Nationalized Warehouse Owner to State Company

Russia's campaign of asset seizures has reshaped ownership across several sectors of the economy.

As Wartime Slump Deepens, Russia’s Construction Sector Is on Shaky Ground

The slowdown, which has been described as the industry’s "most serious stress test since the 2009 crisis," risks affecting the broader economy.

Chechen Businessman Buys Stake in Gold Mining Company at Final Auction

A construction company owned by Chechen-born billionaire Ruslan Baisarov was declared the winner of a fourth and final government auction to sell the Yuzhuralzoloto...

Son of Russian Security Chief Acquires Stake in Large Far East Gold Project

If the projected gold resources are confirmed, Tan could rank among Russia's largest undeveloped gold deposits.

Tatneft Limits Gasoline Sales Following Ukrainian Drone Strike on Its Refinery

In some regions, passenger vehicles are now restricted to purchases of 30 liters of gasoline and 60 liters of diesel at Tatneft gas stations.

Russia Offers India Access to Major Rare Earth Deposit in Siberia – Reuters

The Tomtor deposit, located in the republic of Sakha (Yakutia), is considered one of the world's most significant untapped rare earth resources.

Russia's Steel Output Falls to 15-Year Low as Sanctions, Weak Demand Bite

Steel output declined to 67 million metric tons last year, down 12% from pre-war 2021 levels.

Russian Lawmaker Calls for Terrorist Designation for SpaceX as Company Readies Blockbuster IPO

SpaceX has provided Starlink satellite internet terminals to Ukraine since the early stages of Russia's full-scale invasion.

VK Executives Received Multimillion-Dollar Bonuses Despite Years of Losses, Report Says

The technology group remains deeply unprofitable despite receiving substantial state support.

Russia Confiscates $7.6Bln in Assets in Largest Nationalization Yet

The Kremlin's campaign to bring private assets under state control has already transferred businesses worth an estimated $89.7 billion to government ownership...

Russian Tax Relief to Bypass 1.5M Small Businesses on Patent Regime

The number of businesses benefiting from the VAT threshold freeze will be significantly smaller than the number excluded from the measure.

Russian Fashion Retailer Gloria Jeans Moves Headquarters to Dubai After Shutting Factories

The relocation comes as Gloria Jeans restructures its business amid declining sales, shrinking profitability and the closure of both factories and stores...

Third Government Auction Fails to Sell Stake in Russian Gold Miner

Since May, the Russian government has been trying to sell a 67.2% stake in the Yuzhuralzoloto Group of Companies.

Russian Urals Oil Returns to Discount as Asian Refiners Cut Purchases – Reuters

The discount marks a sharp reversal from April and May, when Urals crude traded at premiums of $7-$8 per barrel to Brent.

Cracks in Russia’s Economy Shine Through at SPIEF

Amid the spectacle of Russia's centerpiece business event, top executives and officials hinted at growing unease about the state of the economy.

In Photos: Russia Flaunts Mascots, Cars and Patriotism at Its Premier Economic Forum

SPIEF's elaborate displays and events were aimed at projecting confidence despite Western sanctions and diplomatic isolation over the invasion of Ukraine...

Japanese Officials Meet Russian Counterparts Over Corporate Assets – Bloomberg

Japanese officials also attended an event involving Russian energy, metals and fertilizer companies.

Russian Insurers Offer Property Protection Against Drone and Missile Damage

Policy terms from major firms AlfaStrakhovanie and Ingosstrakh now explicitly list “military actions” as covered perils for property damage or loss...

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