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Russian Economy

All articles tagged with #russian economy

world15 days ago•4 min saved

Russia backs Wildberries' rebuild after drone strikes

Vladimir Putin ordered the government to help rebuild Wildberries’ warehouses damaged by Ukrainian drone strikes, with seven of its ten largest facilities destroyed. He said logistics capacity would be rebuilt with state support and suggested tax breaks and subsidized loans, while noting no critical consequences for the economy. The attack underscores Wildberries’ fragility as Ukraine justifies strikes over dual‑use drone components and the company faces heavy losses and debt, amid broader sanctions and GDP pressures.

via Financial Times|

#drone-attacks #putin #russian-economy

world23 days ago•5 min saved

Ukraine targets Wildberries to strain Russia’s economy

Ukraine has been striking Wildberries’ warehouses across Russia, including in Yekaterinburg and Voronezh, as part of an effort to disrupt the Russian economy and military logistics. Wildberries, Russia’s largest online retailer with hundreds of warehouses and tens of thousands of partners, plays a central role in consumer shopping and distribution. Kyiv argues the strikes hit military-capacity via dual-use goods, while Moscow denies arming the war and says the attacks will hardly curb Russia’s war readiness, though they push the company to decentralize logistics and raise costs. The company’s vast network means disruption is often localized and not a decisive strategic blow.

via Al Jazeera|

#drone-attacks #logistics #russian-economy

world1 month ago•4 min saved

Kremlin weighs rescue package for Russia’s online retailer after Ukrainian drone strikes

Ukraine’s drone strikes on Wildberries’ warehouses have forced Moscow to consider government backing for the online retailer, likely through state banks like VTB, to avert wider financial damage. Kyiv says it is targeting Wildberries for aiding Russia’s war effort and has pressed for prosecutor action against Belarus’s Lukashenko; the episode highlights the war’s spillover into Russia’s economy and banking sector amid sanctions and diplomacy efforts.

via The Guardian|

#lukashenko #russian-economy #ukraine-russia-war

europe2 months ago•5 min saved

Baltic states push EU to fast-track Russian oil ban

Estonia, Latvia and Lithuania urged Brussels to fast-track the EU’s phased ban on Russian oil, arguing that Russian energy exports fund Moscow’s war in Ukraine; while the Commission pledged to bring forward the proposal, talks have stalled amid Middle East tensions and fears of an energy crunch. Poland backs a year-end move, but some members like Hungary and Slovakia may resist due to price concerns.

via Financial Times|

#energy-crisis #eu-energy #europe

business2 months ago•8 min saved

Absence fuels succession chatter around Russia’s central bank

Elvira Nabiullina’s prolonged public absence has sparked speculation about who would succeed her when her term ends next June, with officials weighing a potential shake-up of the Bank of Russia’s powers and possible successors such as Maxim Oreshkin or Pyotr Fradkov. Nabiullina returned to cut the key rate to 14.25%, but Putin’s backing remains unclear on whether she stays, as Moscow contends with the wartime economy, inflation pressures and sanctions.

via Financial Times|

#bank-of-russia #business #elvira-nabiullina

world2 months ago•14 min saved

Nabiullina’s public absence fuels questions about Russia’s central bank future

Elvira Nabiullina, head of Russia’s central bank, has not been seen in public for almost three weeks. The bank says she is on sick leave but will attend a 19 June press conference after a board meeting, prompting speculation she could be stepping down as she nears the end of her term. Once praised for shielding the economy amid the Ukraine war and Western sanctions, Nabiullina’s absence comes as Russia’s monetary policy and leadership face renewed scrutiny.

via The Independent|

#elvira-nabiullina #putin #russia-central-bank

politics4 months ago•201 min saved

Sweden flags Russia’s hidden deficit, warns of looming financial disaster

Sweden’s military intelligence chief Thomas Nilsson told the Financial Times that Moscow is understating its budget deficit by about $30 billion and masking higher inflation, arguing Russia’s economy is fragile despite higher oil revenues and could slide into a long-term decline or a shock—a financial disaster in Stockholm’s view.

via The Kyiv Independent|

#inflation #oil #politics

world6 months ago•10 min saved

Russian housing sector teeters on bankruptcy as rates stay high

Russia’s economy is slowing sharply as high mortgage rates push housing developers toward bankruptcy, with Deputy PM Marat Khusnullin warning that up to 30% could fail if conditions don’t improve; about 20% already face serious risks. The Central Bank’s rate has remained elevated (peaking at 21% in 2024 and around 16% by late 2025), while government programs fund roughly 80% of mortgages and only 20% are on market terms. Some developers have collapsed or are near collapse, and sales of new housing fell 26% year-on-year in January–June, with value down 2.1 trillion rubles.

via Daily Express|

#housing-market-downturn #interest-rates #mortgage-rates

world10 months ago•1 min saved

EU Implements New Sanctions Targeting Russian Energy and Crypto

The EU has implemented a new sanctions package targeting Russia's energy sector, including banning LNG imports from 2027, tightening transaction bans on major Russian oil companies, and sanctioning vessels aiding Russia's evasion efforts, aiming to weaken Russia's ability to fund its Ukraine war.

via Bloomberg.com|

#eu-sanctions #lng-ban #russia-energy

world1 year ago•2 min saved

Stalled Russia-Ukraine Talks Continue Amid Diplomatic Proposals

The Russian ruble declined sharply following limited progress in recent Russia-Ukraine peace talks, with markets reacting negatively to the symbolic nature of negotiations and ongoing economic pressures from declining export revenues and investor concerns about potential interest rate cuts, leading to a weaker ruble and falling stock indices.

via The Moscow Times|

#currency-exchange #peace-negotiations #ruble

world1 year ago•21 min saved

Russia's Summer Ukraine Offensive Intensifies Amidst Growing Tensions

The EU approved its 18th sanctions package targeting Russian oil revenues, financial evasion schemes, and military support, while Russian officials deny economic impact and increase censorship efforts; Ukrainian forces continue to make tactical advances amid ongoing Russian operations in Ukraine and near Russian borders.

via Institute for the Study of War|

#eu-sanctions #russia-ukraine-conflict #russian-censorship

world1 year ago•3 min saved

India Navigates Energy and Sanctions Amid Global Tensions

India is exploring alternatives to Russian oil amid looming sanctions and tariffs, as Western countries impose new sanctions on Russia's energy sector to reduce dependence and weaken Moscow's economy, which is heavily reliant on oil exports to India and other countries.

via Kyiv Post|

#eu-sanctions #india #oil-imports

economy1 year ago•0 min saved

Russia's Economic Struggles Intensify Amid Rouble Collapse

The collapse of the Russian rouble highlights significant underlying issues within the country's economy, raising concerns about financial stability and the effectiveness of current economic policies.

via The Conversation Indonesia|

#currency-devaluation #economic-crisis #economy

economy1 year ago•1 min saved

Ruble's Decline Sparks Economic Concerns Amidst Kremlin Assurances

Russian President Vladimir Putin assured that the ruble's exchange rate is under control despite its recent sharp decline, attributing fluctuations to factors like budgetary payments and oil prices. He emphasized that there is no reason for panic and that the Central Bank has tools to manage inflation without raising interest rates. The ruble's value against the dollar and euro has dropped significantly, with the Central Bank setting the official rate at 108 rubles, a level not seen since March 2022.

via Meduza|

#central-bank #economy #exchange-rate

economy1 year ago•3 min saved

Russia's Economic Strain: Inflation, Bankruptcies, and Kremlin Concerns

The Institute for the Study of War (ISW) reports that Russia faces significant economic, demographic, and defense industry challenges amid its ongoing war in Ukraine. With inflation at 9% and Western sanctions straining the economy, Russia increasingly relies on China, Türkiye, and North Korea for support. The Kremlin has implemented policies to reduce costs and combat inflation, but these measures highlight its struggle to sustain the war effort long-term. Recent changes to military compensation have sparked criticism, and high interest rates are impacting defense production. Demographic issues, including a declining population and labor shortages, further threaten Russia's economic stability.

via Euromaidan Press|

#economy #labor-shortage #population-decline