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Russia Cuts Price of Vodka Amid Double-Digit Inflation

Russia has dropped the minimum price of vodka by 16 percent in an attempt to ward off a rise in moonshine consumption, spurred on by the falling...

Will Russia's Economic Crisis Help It Defeat Corruption?

Recent official statements suggest that Russia is launching a real war on corruption, a systematic illness that has long eaten at the stable economic...

Russian Prosecutors Crack Down on Retailers as Food Prices Soar

As the ruble's fall drives up the price of even the most basic necessities, the Russian government is cracking down on retailers in an effort to curb...

As Fuel Prices Rise, Russia Eyes Specter of 2008 Gasoline Crisis

Despite a recent dip, gasoline prices in Russia are expected to surge this spring on the back of growing demand, prompting fuel shortages and queues...

Moscow's New Offensive Against Street Kiosks to Strike Small Business

City Hall's new offensive against street kiosks this year will refresh Moscow's image, but strain the city's budget and push the last remaining small-time...

Russian Airlines Brace for Tough Year as Ruble Falls

Russia's top airlines are eyeing the specter of bankruptcy in 2015 following last year's ruble meltdown, which decimated travel spending and drastically...

Russia's New Turkish Stream Gas Strategy More Bark Than Bite

Although officials in Moscow have trumpeted the cancellation of the South Stream natural gas pipeline as a major blow to Europe, energy analysts say...

Russia To Face Same Old Questions at Davos In Chillier Atmosphere

As the World Economic Forum kicks off in the Swiss alpine town of Davos on Wednesday, Moscow's delegates will be working hard to convince participants...

Russian Retailers Brace for Tough Year After December Panic Buying

With December's massive consumer spending spree giving way to cautious saving as ruble devaluation eats away at Russians' salaries, analysts are pessimistic...

Russian Oil Firms Can Weather $50 Oil

If oil stays at its current price through this year, Russia's gross domestic product will likely shrink more than 6.5 percent, but Russian oil companies...

Recession Means Grim Prospects for Russia's Vital Industries

With the World Bank's latest forecast predicting a 2.9 percent contraction of Russia' economy this year, the country's energy, banking and industrial...

Russian Banks Plead for Interest Rate Cut as Borrowing Costs Spiral

Russian banks have urged the Central Bank to sharply cut interest rates to prevent a wave of corporate bankruptcies and collapsing demand for loans...

Ruble Chaos Sparks Russian Spending Spree

At 8 p.m. on Wednesday, GUM, a historic chic shopping mall near the Kremlin, had more salespeople than customers.

Ruble Chaos Forces Retailers to Suspend Sales in Russia

Massive fluctuations in the value of the ruble currency on Tuesday have prompted retailers to make emergency price revisions or even suspend sales and...

Russia's Energy Outlook Gloomy Amid Falling Oil Prices

While most oil-dependent economies are likely to suffer under the low and volatile oil prices predicted for next year, analysts paint a particularly...

Eurasian Union's Future Murky as Belarus Tensions Simmer

Less than a month before the launch of the much-vaunted Eurasian Economic Union, a spat between Moscow and Minsk over a Russian ban on Western food...

Falling Ruble Curbs International Travel From Russia

The crumbling value of the ruble currency is raising the cost of air travel and train journeys out of Russia, forcing major transport companies to either...

Russia's South Stream Alternative Rests on Shaky Ground

Ukraine's role as a natural gas transit zone between Russia and the European Union will be "nullified" once a newly announced pipeline through Turkey...

Falling Ruble Boosts Housing and Hotels Over Offices and Warehouses

While warehouse and office real estate markets in Russia are close to saturation, analysts see promise in the hotel and housing sectors, as the falling...

Volvo Expands Russian Truck Plant Amid Market Slump

As a falling ruble and stagnant economy continue to drive down truck sales in Russia, Swedish auto manufacturer Volvo last week expanded its truck...

Russian Train Maker Wins $2.6 Billion Moscow Metro Tender After Foreign Firms Back Out

Russian train maker Metrovagonmash has won a massive international tender to supply 96 trains for the Moscow metro after major foreign producers including...

Standard & Poor's Predicts Russia Will Avoid Recession, Downgrade

Russia's economy will dodge recession and see a modest revival of growth as the ruble currency strengthens slightly and oil prices stabilize at $90 per...

No More Golden Toilets: Rich Russians' Taste in Real Estate Is Changing

Golden toilets and monumental hallways no longer top the must-have list for a luxury apartment in Russia as demand shifts to functionality rather...

Buckwheat Panic Points to Economic Fears

Following the news of a bad buckwheat harvest, panic buying of the traditional foodstuff sent prices soaring in a sign that some analysts say is likely...

Russian Lobbies Strip Out Small Business Law's Tougher Provisions

Russia's business lobbies proved their mettle Tuesday after the State Duma passed a much stripped-down version of a business law, which may even be...

Russia's Weak Ruble Puts China's Moscow Development Projects On Hold

At least two Chinese construction and development projects in Moscow were reportedly postponed last week as the depreciation of the ruble, which has...

Russian State Budget and Oil Majors Eye Low Oil Prices Through 2015

In a blow to the financing of the state budget and Russian oil majors alike, global crude prices will likely remain low until 2015, according to the...

First Double-Decker Aeroexpress Train Arrives in Moscow

Swiss locomotive manufacturer Stadler on Thursday delivered the first of 25 double-decker trains to Russia's Aeroexpress, the company that operates...

Gasoline Prices in Russia Expected to Grow Above Inflation

The price for gasoline is expected to rise steeply in 2015 as new duties and an imbalance of supply and demand take their toll, putting further...

Staggering Economy and Sanctions Cut Siemens' Russian Growth Spurt Short

Germany-based Siemens, the largest engineering company in Europe, on Tuesday reported a sharp drop in turnover as well as personnel cuts for its Russian...

China Gets Upper Hand in Gas Deals Amid Russia-West Tensions

Speaking at the Asia-Pacific Economic Cooperation forum on Monday, President Vladimir Putin vowed that Russia would develop all forms of trade with China...

Russian Small Business Likes Sanctions, Loathes Stagnation

Even as Russia's wins plaudits for improving its overall business climate amid Western sanctions, surging inflation and an economic slump, small and medium-sized...

China Beating Russian Firms in Drive to Replace Sanctioned Western Technology

Sanctions limiting Russia's access to Western equipment and expertise in shale and Arctic oil production have been in force for two months, but local...

How Slumping Oil Prices Hit Russia's Sanctions-Struck Oil Industry

Three screws are tightening on Russia's oil industry.

Russia's Economic Slump Forces Logistics Firms Into the Regions

As demand for new warehouse space collapses in Moscow amid Russia's close-to-zero economic growth, logistic firms are flocking to the regions in a...

Russia's Sovereign Rating Clings to One Notch Above Junk Status

Rumors that Russia's sovereign debt would be branded "junk" by a major credit rating agency hung over the markets on Friday, driving the ruble to new...

Russia's Biotech Innovations Are More Star Trek Than Star Wars

Although information technology was once the darling of Russia's innovation sector, a sanctions-flecked economic slowdown is pushing manufacturing and biomedicine...

Success of Russia-Ukraine Gas Deal Depends on EU's Willingness to Pay

As the Russian and Ukrainian Energy Ministers sit down with European Commission chaperones to resolve their intractable natural gas dispute on Tuesday...

Moscow Metro Announces $3.2 Billion Tender for Modern Train Cars

The Moscow metro on Friday announced an international tender worth more than 130 billion rubles ($3.2 billion) to supply 768 metro cars and service...

Russia Plans Giant State Oil Services Company to Replace Western Firms

President Putin has approved the creation of a state-owned oil exploration drilling corporation that will replace Western oil service companies forced...

Russians Flock to Budget Stores as Prices Rise

Russia’s faltering economy appears to be edging shoppers into budget food stores, with two of the country’s biggest food retailers reporting a double-digit...

Why Can't Russia Supply Itself With Fish?

The salmon-catching season in Russia's Far East is almost over, and refrigerators in Russia's port city of Vladivostok are filled to the brim.

LUKoil Seeks European Cash for Project Undercutting Gazprom's South Stream

While the future of the gigantic South Stream natural gas pipeline from Russia to Europe remains mired in uncertainty, an alternative project is...

Russia's Sanctions-Chilled Real Estate Market Showing Signs of Life

Despite a tightening of Western sanctions and a stuttering economy, investment in Russian real estate grew in the third quarter of the year, and the...

Putin Promises Rosy Future for Russia's Economy Despite Sanctions

The government will not stimulate Russia's faltering economy by increasing spending, but will support major companies and infrastructure development...

Russians Return to Vodka as Beer Prices Rise

Brewers in Russia are streamlining operations and decreasing production volumes amid high excise duty, government overregulation and decreased consumer...

Facing Western Sanctions, Russia's LUKoil Asks Government for Oil Fields

Russia's biggest private oil producer, LUKoil, is seeking support from the government to help it weather Western sanctions that have locked it out of international...

Government Undercutting Its Own Drive to Localize Pharmaceuticals Production

Excessive bureaucracy, deficient legislation and an absence of government guarantees are hampering a drive to localize pharmaceutical production in Russia...

Western Sanctions Could Damage One-Fifth of Russia's Oil Production

Some 100 million tons of annual oil production — or about 20 percent Russia's total output — is at risk because of sanctions related to the supply...

Russia's Gas Supply Cuts to Europe Bolster Gazprom's Bargaining Power

For two weeks, reports have been surfacing of large falls in volumes of Russian gas deliveries to Eastern European countries that are supplying gas...

U.S. Business in Russia Willing to Weather Sanctions

Globally renowned for their go-getter attitude and entrepreneurial spirit, U.S. businessmen were mostly positive when discussing sanctions at an international...

Sanctions Squeeze Western Oil Service Companies Out of Russia

Western service companies will be forced to limit or even cancel their operations in Russia as the result of a new round of sanctions imposed by the...

Iran to Capitalize on Russia-West Standoff Over Ukraine

When Vladimir Putin and Hassan Rouhani meet on Friday against the backdrop of Russia's slide into the abyss of Western sanctions, the two countries...

EU Developing Emergency Plan for Winter if Russia Cuts Off Gas Flows

European Union authorities could step in to manage the flow of gas between member states if failure to resolve the conflict in Ukraine by winter...

Murmansk Fish Factory Sues Russian Government Over 'Illegal' Food Import Ban

Mikhail Zub, the long-standing head of a privately owned fish processing plant in the northern city of Murmansk, is one of a kind in Russia.

Ukraine Tries to Kill South Stream by Luring Foreign Firms Into Gas Network

Ukraine on Monday opened its gas transit infrastructure to potential Western investors, but kept the door firmly shut on its key supplier-turned-antagonist...

Gazprom's Grip on Russian Gas Exports Weakens as Novatek Gets Export License

Novatek, Russia's largest independent gas producer, has been granted a license to export liquefied natural gas, or LNG, marking the next step on Russia's...

Russia Approves Rail Union of 3 Ex-Soviet States to Tap Into China-Europe Trade

Russia's government green-lighted a joint venture between the state railway companies of Russia, Belarus and Kazakhstan that aims to grab up to a...

Australia Bans Uranium Exports to Russia Over 'Bullying' of Ukraine

Australia, the most uranium-rich nation in the world, said Wednesday that it would ban exports of the material to Russia because of that country's...

Russia's Decision to Float the Ruble Constitutes Risk in Turbulent Times

As the ruble weakens to record lows against the dollar and euro, Russia's Central Bank is preparing to let it float free, likely leading to a short-term...

EU Threatens Russia With Further Sanctions

EU leaders have agreed at a summit in Brussels to have new sanctions against Russia prepared within the next week if Moscow does not take steps to de-escalate...

International Carmakers Confident of Market Revival

International carmakers are hopeful that Russia can become Europe's biggest market and vindicate their decision to spend more on localizing production...

As Russia and U.S. Struggle, China Rejoices

With multi-billion dollar energy deals between Moscow and Beijing recently being pushed through, China, the world's second-biggest economy, is benefiting...

Cost of Air Travel Set to Rise After Sudden Increase in Aviation Fuel Price

A rise of up to 7 percent in the price of aviation fuel at Russian airports since May will push up costs for domestic carriers, making Russia's...

Struggling With Sanctions, Russia Faces Oil Price Crash

The price of Urals crude oil, Russia's key export and the lynchpin of its government finances, fell below $100 this week for the first time in more...

Ramenskoye Military Airfield to Become Moscow's 4th International Airport

Ramenskoye airfield in Moscow's southwest suburbs is set to be transformed within two years into Moscow's fourth international passenger airport.

Putin's Food Ban Splits EU on Wisdom of Russia Sanctions

Eastern European countries hit hardest by Moscow's food bans begin to question the wisdom of wrecking their economies in the name of a strategy that...

Russia May Soon Return to Soviet-Style Price Controls

Soviet-style price controls on the retail sector may be coming back, as the government strives to fight price hikes in supermarkets following Moscow's...

Food Import Ban Shows Weakness of Russia's Customs Union

Even as Russia seeks to deepen and expand trade alliances in the face of economic isolation from the West, the unilateral trade restrictions that...

Germany Asks Ukraine to Forgo Sanctions That Threaten Gas Transit to Europe

Germany on Monday demanded that Ukraine forgo its plans to disrupt the transit of Russian natural gas to Europe as part of its proposed sanctions...

Belarus Ready to Make a Killing on Russia's EU Food Bans

Belarus stands to profit off the bans that Russia has imposed on a range of Western food imports, with a chance to both boost its own production...

Sanctions Would Ground Russia's Major Airlines

The grounding this week of Russia's low-cost airline, Dobrolyot, by EU sanctions has exposed the vulnerability of Russia's airline industry, which...

Ban on State Employees' Travel Abroad Sinks Russian Tour Operators

The fourth Russian tour operator in just over one month went bust this weekend, after the government recommended that security and law enforcement...

Sanctions on Technology Imports Leave Russia Playing Catch Up

The impact of the EU's latest and harshest sanctions on Russia will be felt most keenly in the country's economic sectors that are largely dependent...

With Sanctions, Russia Becomes Crimea's Sole Investor

Under the weight of the latest round of European Union sanctions, the contested territory of Crimea will become an even greater burden to the beleaguered...

EU Energy Sanctions Only Painful on Paper

While the EU's harshest sanctions against Russia to date do target major sectors of the Russian economy, great care has been taken to avoid damaging...

EU Sanctions to Squeeze Russian Banks, Consumers

The EU's agreement to impose broad economic sanctions on Russia for its position on Ukraine threatens to stop off the trickle of affordable capital...

Court Orders Russia to Pay Yukos Shareholders $50 Billion

After almost a decade of consideration, The Hague's arbitration court announced Monday that Russia must pay out $50 billion in damages to the shareholders...

Apartment Builders Find Alternatives to Concrete Panels

City Hall cannot yet fully ban the outdated models of prefabricated concrete-block panels used for the construction of cheap apartments, but a move...

Q&A: Yakunin Sees Bismarck Plot in Ukraine Unrest

Vladimir Yakunin is convinced that Ukraine's forced amputation from Russia is a triumph for Otto von Bismarck, who plotted the whole thing in the...

Bookmakers Cash In on World Cup Upsets, Bizarre Bets Pay Out

A $50,000-punt on your favorite player becoming the top scorer at the World Cup or a wager on the probability that Luis Suarez will sink his teeth...

With Austria Deal Signed, Gazprom Wears Down EU Opposition

Russian state-run energy giant Gazprom finalized a deal on Tuesday to build the Austrian branch of its massive South Stream gas pipeline to Europe...

Metals Giant Evraz Plans to Take Bite Out of Global Rail Market

Now that it has completed its new production facility in Russia, metals and mining group Evraz is eying rail markets in Latin America, the Middle East...

Moscow-Kazan Rail Line Likely to Get Green Light Despite Delays

The government is likely to support a multibillion dollar high-speed rail line between Moscow and Kazan, even though financing will be delayed, the deputy...

Europe Bracing Itself for Worst-Case Gas Scenario

In the wake of Russia's decision to switch Ukraine to prepayment for gas starting Monday, the European Union is planning a new round of negotiations...

BP Says Russia Will Profit From Rising Demand for Oil and Gas

Global demand for oil and gas — Russia's key exports and the lynchpin of its foundering economy — is growing, and Russia is well placed to capitalize...

Ukraine Getting Upper Hand Over Russia in Gas Diplomacy

While the threat of shutting off gas deliveries remains Russia's main bargaining chip in its price dispute with Ukraine, Kiev continues to score political...

Putin Denies Ill Effects of Internet Restrictions on Business

President Vladimir Putin — known for being wary of the Internet, which he once called a CIA project — on Tuesday recognized the industry as an important...

Russia Edging Away From Quantity Over Quality Approach to Construction

Until the demand for cheap and affordable housing is satisfied in Russia, there will be no incentive to use modern materials or advanced technology...

5 Insider Stories From Russia's Fledgling Start-Up Market

Start-ups, business angels and venture funds — these terms have become part of the Russian language, although just a few years back they were almost...

South Stream Dragged into Russia-Ukraine Gas Spat as Rhetoric Spikes

Just as it seemed that a solution to the gas dispute between Ukraine and Russia was near, Ukraine has returned to its old price demands and the European...

City Hall Battles Moscow's Taxi Free-For-All (Video)

In two to three years Moscow will resemble New York — not for its skyscrapers but for the yellow cabs that will dominate its streets, erasing the colorful...

For Russia, Eurasian Union is About Politics, Not Economy

With the milestone agreement to create a Eurasian economic union clinched on Thursday, Russia put cheap energy resources at the head of its drive to pull...

A Look Inside Moscow Metro's Train Factory Ahead of $7.5Bln Tender

Not satisfied with its recent 144 billion ruble ($4.1 billion) tender to supply and service 832 new train cars, the Moscow Metro will run a new one...

Russia Bats Off Yatsenyuk's Accusation of Gas Stealing

Acting Ukrainian Prime Minister Arseniy Yatsenyuk said on Tuesday that Russia should return the $1 billion worth of gas that he said it stole while annexing...

New Ukrainian President Offers Moscow No Respite in Gas Conflict

A day after winning the Ukrainian presidency, Petro Poroshenko went on the offensive in his country's gas conflict with Russia, advocating reverse...

Long-Awaited Russia-China Gas Supply Deal Eludes Putin in Shanghai

Among the major deals sealed during the first day of President Vladimir Putin's visit to China, the most hotly anticipated was conspicuously absent...

France's Technip Confirms Plans to Build Yamal LNG Facility in Russia

French engineering and construction firm Technip will forge ahead with plans to build a liquefied natural gas, or LNG, facility for the Yamal LNG project...

The Robotized Future Will Look Like 'Transformers' But Will Not Be Made In Russia

For better or worse, a Terminator is unlikely to appear for at least the next 20 years, unless the Arnold Schwarzenegger-shaped robot somehow arrives...

Germany's RMA to Supply Gazprom With Made-in-Russia Pipeline Equipment

Germany's RMA Pipeline Equipment, a major contractor for Russia's gas giant Gazprom, opened its biggest factory to date in central Russia on Wednesday...