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Over a Third of Russians Admit Trying to Reduce Food Bill – State Poll

Amid sharply rising prices, inflation at 12.7% and disruption to supply chains due to Western sanctions, around 35% of Russian citizens say they are trying...

foreign deposits

Russia’s 2022 Cash Outflow Hits All-Time High

Russians have moved a record amount of cash out of the country so far this year, state media has reported. The equivalent of $32 billion has been...

Russia Falls into Recession

Russia's economy has entered a recession as gross domestic output fell by 4% in the third quarter, according to first estimates published Wednesday by...

U.S. Downgrades Russia from ‘Market Economy’ Status

The United States has stripped Russia of its classification as a “market economy” and downgraded it to a non-market country, the Commerce Department...

Oil Exports Helping Cushion Russian Economy – IMF

Russia's recession will be less severe than expected due to oil exports and relatively stable domestic demand, according to the latest International Monetary...

Financial Freefall

Moscow Stock Exchange Down Nearly 12% at Opening

The Moscow stock exchange plunged nearly 12% in early trading on Monday following multiple strikes on Ukrainian cities and a weekend explosion that partially...

Russia Says Economy to Shrink Less Than Forecast

Russia's sanctions-hit economy will shrink by less than previously forecast this year and return to growth in 2024 on the back of domestic demand and investment...

Financial Hurdles

Expansion of Russia's Payment Faces 'Difficulties'

Russia is pushing for countries to adopt its domestic-made Mir payment system as a way to work around sanctions.

slowing inflation

Russia’s Central Bank Slashes Interest Rates to 7.5%

The key rate continues to fall nearly seven months after the Bank raised it to a historic 20% following the invasion of Ukraine.

opinion Nick Trickett

The Russian Economy: Failing To Plan, Planning to Fail

"Technological sovereignty" is word salad for partial state planning — and too little, too late.

Measuring the Effects

Russia Doing Better Than Expected Despite Sanctions – IMF

The sanctions were meant to sever Russia from the global financial system and choke off funds available to Moscow to finance the war.

Russian Ruble Drops 17% Amid Falling Exports, Rumored Intervention

The ruble is currently at its lowest level in six weeks.

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%.

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