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Articles with tag "Economy"
currency control
Russia Mulls FX Interventions To Tame Ruble’s Rise
A strong ruble is not desirable for the Russian government, which fears it can hit budget revenues and exports.
financial milestone
Moody’s Declares Russia in Default
The missed interest payment on foreign debt marks Russia's first such default since the Bolshevik revolution in 1918.
‘Artificial’ default
Russia Denies Defaulting on Foreign Debt
Russia's grace period on about $100 million in interest on its foreign debts expired Sunday night.
scornful speech
Putin Slams Western 'Economic Blitzkrieg' at Muted Economic Showcase
"Gloomy predictions about the Russian economy’s future didn't come true," Putin said.
looming recession
Explainer: What Does Russia’s ‘Zero-Inflation’ Mean?
“Things are a lot worse than they are saying,” said one economist.
economic isolation
7 in 10 European Businesses to Cut Russia Investment – Poll
Supply chain disruptions, lower sales volumes and difficulties with payments are forcing businesses to revise their forecasts.
production growth
Russia’s Oil Output Up 5% in May – Vedomosti
Russia’s crude output so far this year is 3.5% higher than in the same period in 2021.
Economic Fallout
Russia Hikes Social Welfare Payments to Mitigate Rocketing Inflation
Russian pensions, as well as minimum wage, will rise by approximately 10%.
closer to default
Russia to Make Foreign Debt Payments in Rubles – Ministry
The United States on Tuesday ended an exemption allowing Moscow to make the payments in dollars held in Russia.
seeking stability
Russia Eases Capital Controls to Hold Back Surging Ruble
Experts say the ruble's recent rise in value to four-year highs after plummeting following the invasion of Ukraine hurts Russia’s finances.
market woes
Mortgage Loans Suffer ‘Largest Fall’ in Russia’s History – RBC
The fourfold decrease comes despite government measures to avert the fallout from war-related Western sanctions.
shrinking inventories
Ukraine War Drives Up Russia’s Auto Part Prices – Kommersant
“There’s enough spare parts in stock for two to four months of work,” one dealer said.
economic penalties
U.S. Exports to Russia Fall to 20-Year Low
Exports fell to a 20-year low as Washington hit Moscow with a series of punishing sanctions over its invasion of Ukraine.
economic problems
Russian Disposable Income Drops, Inflation Highest Since 1999
Spiking consumer inflation weighed on Russian households' real disposable income in the first quarter.
low output
Russia Oil Output to Drop to Lowest Level in 18 Years – Siluanov
Siluanov’s projections mean Russia looks set to produce an average of 9.13 million barrels per day this year, its lowest level since 2004.
'Structural transformation'
Central Bank Survey Says Russia's Economic Outlook Worsens
"Difficulties are appearing across all sectors, in both big and small companies," Elvira Nabiullina said.
Heading Home
Central Asian Migrants Flee Sanctions-Hit Russia
Economic problems as a result of the Ukraine war are making Russia a less attractive place to live and work.
'no-limits' partnership
Russia-China Trade Surges in 2022
China’s trade with war-torn Ukraine also climbed by 10.6% to $4.6 billion.
Sanctions Bite
Russia to See Largest GDP Collapse in 30 Years, Official Warns
The World Bank estimates that Russian GDP will contract by 11.4% in 2022.
Grim forecast
World Bank Warns of Bleak Economic Outlook for Ukraine, Russia
Ukraine's economy will collapse by 45.1% this year and Russia will see an 11.2% decline in GDP, the World Bank said.
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