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Russia-Belarus joint nuclear drills deepen Moscow's reach over Belarus
world6 days ago

Russia-Belarus joint nuclear drills deepen Moscow's reach over Belarus

Russia and Belarus completed the second stage of joint nuclear-force exercises on May 21, signaling Moscow’s growing leverage over Belarus and a push toward deeper integration, with Lukashenko saying Belarus will not enter the war despite Kremlin pressure. Separately, Ukrainian strikes disrupted several Russian oil refineries and energy infrastructure, constraining Russia’s fuel output even as short-term Middle East oil gains boost revenues; Russia's gold reserves fell again as it taps assets to fund the war. In Ukraine, ISW notes ongoing Russian drone and glide-bomb campaigns across multiple fronts with limited gains, while Ukraine expands air defense with private-sector participation to counter Shahed-type drones.

via Institute for the Study of War|
#belarus#nuclear-exercises#oil-revenues
War Costs Dim Russia’s Growth as Deficit Widens and Rate Cuts Stall
economy21 days ago

War Costs Dim Russia’s Growth as Deficit Widens and Rate Cuts Stall

Five years into Russia’s war, the economy shows growing vulnerabilities: the budget deficit widened in early 2026 despite higher oil revenues, the central bank has limited room to cut rates as inflation hovers around 5–6%, and the ruble remains strong with export pain. Unemployment sits at a record low but masking a shrinking labor pool and aging population, while the National Wealth Fund’s assets have fallen. Forecasts put 2026 GDP growth around 0.5–1.5%, fueling debate over whether continued war spending can yield sustainable growth or will demand more state intervention.

via Meduza|
#budget-deficit#central-bank-policy#economy
Russia's Economy Shrinks 1.9% in Q1 Due to Energy Revenue Problems.
economy3 years ago

Russia's Economy Shrinks 1.9% in Q1 Due to Energy Revenue Problems.

Russia's GDP contracted by 1.9% in Q1 2023 due to sanctions imposed over its offensive in Ukraine, including a ban by the EU on Russian petroleum products, and a price cap agreed with the G7 and Australia. Oil revenues were down 43% compared to a year ago, impacting the budget deficit, which hit 3.4 trillion rubles ($42.3 billion) between January and April. The public sector deficit could reach between 3-4% of its GDP, higher than the 2% target. Russia's low unemployment rate of 3.5% is a symptom of its shrinking labor force.

via The Moscow Times|
#budget-deficit#economy#gdp