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Russia Fines Google $2.5 Decillion Over YouTube Bans – RBC

Google reportedly began accumulating daily penalties of 100,000 rubles in 2020 after it was ordered to restore pro-government YouTube channels.

G7 Agrees New Steps to Curb Russian Sanctions Evasion

The G7 finance ministers also said they would take additional measures aimed at "increasing the costs to Russia of using the shadow fleet to evade sanctions...

Russia’s Central Bank Raises Key Rate to Historic 21%, Signals Aggressive Fight to Curb Inflation

Inflation continues to weigh on Russia’s economy amid surging military spending for the war in Ukraine.

French Supermarket Chain Auchan to Sell Russian Business – Reports

Auchan’s Russian subsidiary dismissed the reports, calling them “rumors” that have circulated for years.

Is Russia’s Wartime Wage Boom Coming to an End?

Some say the period of rising wages, ushered in by rising demand for labor amid the war effort, is a new reality for the economy. For others, it is a bubble...

IMF Raises Russia’s Growth Forecast for 2024

The IMF now expects the Russian economy to expand by 3.6% this year, up from a previous forecast of 3.2%.

Russia’s Real Estate Market Rocked by the End of Generous Mortgage Subsidies

Russia is now facing a housing affordability crisis which will compound the coming economic slowdown in 2025.

Putin Touts BRICS Economic Growth at Business Forum

“The member countries of our association are in fact the drivers of global economic growth,” the Kremlin leader said.

Russia Restricts Fruit, Vegetable Imports From Kazakhstan

Rosselkhoznadzor said Kazakhstan’s competent authorities “failed to take measures to ensure the phytosanitary safety of [products sent to] Russian...

Russian Finance Minister Confirms Hike in ‘Exit Tax,’ Sales Discount for Foreign Companies

Mandatory contributions to the Russian treasury will increase from 15% to 35%, while the discount on company sales will go from 50% to 60%.

Russian Pop Star Shaman Seeks ‘Ya Russky’ Trademark for Vodka, Sex Toys

“Ya Russky” has become Shaman’s calling card after he emerged from relative obscurity with patriotic pop songs in the wake of Russia’s invasion...

Russia’s Inflation Down Only Marginally in September, Beginning of October

The market expects the key interest rate to rise to at least 20%, especially after the government drafted a 2025-2027 federal budget seen as pro-inflationary...

Moscow Police Arrest Business Partner of Bar Owner Injured in Car Bomb Attack

Russian media reported that the arrested man is Shaker Group co-founder and Belarusian citizen Vitaly Slobodyanik.

Last Window to Europe: What Happens After Ukraine Gas Transit Ends?

If this gas route is lost, it may intensify Europe's battle with Asia for liquefied natural gas (LNG) supplies and create new headaches for cash-strapped...

Putin Orders Seizure of U.S.-Owned Canned Food Maker

Canned food maker Glavproduct’s parent company, Promselkhozinvest, is owned by the U.S.-registered Universal Beverage Company.

Wildberries Subsidiary Files $400M Claim Against Bakalchuk

Tatiana Kim previously claimed that her estranged husband Vladislav Bakalchuk and his team siphoned 37 billion rubles out of the company.

Russian Officials ‘Resigned’ to Letting Ruble Fall Past 100 vs Dollar – Bloomberg

Some officials expect the low exchange rate will benefit Russia’s state budget amid government plans to increase defense spending.

Sanctioned Russian 'Defense Bank' Promsvyazbank to Launch Cross-Border Trade Transfers

It is not clear in what capacity PSB wants to participate in cross-border settlements, given that it is one of the most sanctioned Russian banks.

Russian Court Orders Seizure of JPMorgan Funds as VTB Seeks Damages for Assets Blocked Abroad

The St. Petersburg Arbitration Court ruled to seize $155.8 million in any currency from all JPMorgan bank accounts, according to Reuters.

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