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Business

News Analysis

Cracks in Russia’s Economy Shine Through at SPIEF

Amid the spectacle of Russia's centerpiece business event, top executives and officials hinted at growing unease about the state of the economy.

In Photos: Russia Flaunts Mascots, Cars and Patriotism at Its Premier Economic Forum

SPIEF's elaborate displays and events were aimed at projecting confidence despite Western sanctions and diplomatic isolation over the invasion of Ukraine...
1 Min read

Putin Talks Multipolarity and Shrugs Off Economic Pain at ‘Russian Davos’

The president’s address bore a striking similarity to his speech last year, once again touting BRICS and framing Russia’s economy as resilient.
3 Min read

Swedish Court Clears Transfer of Detained Cargo Ship to Ukraine

Ukraine requested the vessel's transfer as part of an investigation into alleged war crimes involving the appropriation and removal of property from territories...
2 Min read

Japanese Officials Meet Russian Counterparts Over Corporate Assets – Bloomberg

Japanese officials also attended an event involving Russian energy, metals and fertilizer companies.
2 Min read

Russian Insurers Offer Property Protection Against Drone and Missile Damage

Policy terms from major firms AlfaStrakhovanie and Ingosstrakh now explicitly list “military actions” as covered perils for property damage or loss...
2 Min read

Russian Central Bank Chief Skips SPIEF After Calling In Sick

A source told Vedomosti that Elvira Nabiullina actually skipped the economic forum to attend the funeral of her adviser Alexei Mozhin.
1 Min read

AvtoVAZ to Cut Output Plans as Export Demand Weakens

AvtoVAZ President Maxim Sokolov said the ruble's strength was hurting exports by making Russian-made vehicles less competitive abroad.
2 Min read

Russia to Quadruple FX Purchases as It Rebuilds Wealth Fund and Seeks to Weaken Ruble

Moscow is seeking to rebuild its rainy-day fund while also easing upward pressure on the ruble, whose strength has weighed on export revenues and budget...
3 Min read

Russian IT Executive's Bankruptcy Raises Pressure on Debt-Laden Fplus Group

Fplus is one of Russia's largest technology groups, spanning electronics distribution, hardware manufacturing and retail.
2 Min read

France Arrests Russian Captain of Moscow-Linked Tanker – Prosecutor

The Kremlin has likened the seizure of the tanker to "international piracy."
2 Min read

Putin Allows France’s TotalEnergies to Sell Stake in Arctic LNG 2

The buyer, NordLine, is a recently established subsidiary of Russia’s second-largest natural gas producer, Novatek, Kommersant reported.
1 Min read

Russia Says Gold Production Nears 500 Tons, Stunning Industry Analysts

No major new mines have entered production in recent years that would explain such a rapid increase in output.
3 Min read

Gas Stations in Moscow and Northern Russia Introduce Fuel Rationing

The Kremlin has acknowledged that gasoline production decreased “in some areas” of the country, but said it saw “no risks” of nationwide shortages...
3 Min read

From Cognac to Apricots: These Armenian Products Are Now Off-Limits in Russia

The restrictions come as Yerevan pursues closer European ties — and ahead of parliamentary elections in the South Caucasus country.
2 Min read

Russia's Big Tech Firms Ramp Up Borrowing as Debt Surges to $27Bln

The Central Bank has called for closer monitoring of the sector's financial health as combined assets increase at a slower pace than debt growth.
2 Min read

St. Petersburg Economic Forum Opens Under Shadow of Ukrainian Drone Strikes

Some 20,000 guests from 130 countries are expected to attend SPIEF, a flagship business and investment event known as the “Russian Davos.”
3 Min read

Ukraine's Refinery Strikes Push Russian Crude Exports to Wartime High – Bloomberg

Repeated Ukrainian drone strikes on refineries have reduced domestic processing capacity and left more crude available for shipment abroad.
2 Min read

Supermarket Chain Lenta Acquires Rival O’Key

Industry analysts expect the acquisition to consolidate Lenta’s dominance over the large-format grocery sector, placing 39% of Russia’s entire hypermarket...
1 Min read
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