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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.

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.

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.

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.

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.

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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