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Russian Economy Barely Grows in Q3 as War Spending Bites

Bloated military spending had initially supported the Russian economy. But it also spurred inflation, which now weighs on growth.

Russian Seaborne Oil Exports Drop to 3-Month Low Amid New U.S. Sanctions

Analysts say the slump in exports reflects a temporary dislocation in supply chains rather than a collapse in demand.
2 Min read
opinion Tatyana Rybakova

Congratulations to Russia's Agriculture Ministry for Soaring Food Prices

With the industry regulated into a corner, the price of staples like sunflower oil and rye are climbing. Officials are only making things worse.
6 Min read

Wildberries Targets First African Market With Ethiopian Expansion

The cooperation agreement with Ethiopia’s largest state-owned investment firm signals the Russian e-commerce giant’s push into Africa.
1 Min read

Putin Approves Sale of Citibank’s Russian Unit to Renaissance Capital

A decree allows Renaissance Capital to acquire 100% of Citibank Russia from its parent company without any additional regulatory approvals.
1 Min read

Finance Ministry to Debut Borrowing in Chinese Yuan in December

The ministry said it would offer two series of OFZ bonds, each worth 10,000 yuan ($1,400), with maturities ranging from three to seven years and interest...
2 Min read

Lukoil Halts Iraqi Operations After Sanctions, Declares Force Majeure – Reuters

According to Reuters, Iraq’s state oil authorities have frozen all cash and crude payments to Lukoil in compliance with U.S. and British sanctions imposed...
2 Min read

Bulgaria Adopts Law to Take Control of Russia's Lukoil Refinery

Lukoil has owned the Neftochim plant, the largest oil refinery in the Balkans, since 1999.
2 Min read

Russia’s Economy Could Slip Into Recession by Year-End, Central Bank Warns

A quarterly contraction would mark Russia’s first year-on-year GDP decline since the first quarter of 2023, when the economy shrank by 1.6%.
2 Min read

Gunvor Pulls $22Bln Lukoil Deal After U.S. Labels Company ‘Kremlin Puppet’

The U.S. Treasury said the U.S. would “never” allow Gunvor to operate Lukoil’s assets while Putin “continues the senseless killings” in Ukraine...
2 Min read

Russia to Slow VAT Threshold Cut for Small Businesses After Backlash

This comes amid alarm among entrepreneurs and business lobbies who say that small firms could be forced to shut down or move into the shadow economy.
2 Min read

Russia’s Richest Woman Settles Divorce 1 Year After Deadly Office Confrontation

The specific terms of Thursday’s settlement have not been made public, but Kim said the terms were “acceptable to both sides.”
1 Min read

Russia’s Oil Revenues Plunge 27% Year-on-Year in October

Falling crude prices, a stronger ruble and tightening Western sanctions continue to cut into oil and gas revenue that is critical to Russia’s federal...
2 Min read

Cargo Checks at Kazakhstan Border Paralyze Russian Imports, Trigger Supply Fears

Logistics and freight forwarding companies estimate that between 10% and 25% of all consumer imports from China are now stuck at the border.
3 Min read

Russian Retail Chains Forced to Sell Assets as Sales Fall and Costs Rise

Retail executives warned in October that consumers are spending less, even on groceries, as Russians turn toward a savings-oriented mindset.
2 Min read

At Least 15 Russian Regions Recruiting Reservists to Guard Oil Facilities Against Drone Attacks – Vyorstka

The postings stress that reservists will not be sent to fight in Ukraine but will remain in their home regions to guard energy infrastructure and intercept...
2 Min read

Russia Faces New Jet Fuel Risks After Gasoline Market Turmoil

Measures to stabilize the market after a wave of drone attacks on oil refineries could drive up jet fuel prices and create fresh risks for the aviation...
2 Min read

Mazda Becomes First Foreign Automaker to Lose Russian Joint Venture Buyback Rights

The Japanese automaker had sold its 50% stake in the Mazda Sollers Manufacturing RUS joint venture with an option to buy back the assets within three years...
1 Min read
News Analysis

How Russia’s Auto Industry Ran Out of Road

Russia’s auto industry is floundering in the face of tough competition from China, weak domestic demand and poor export prospects.
5 Min read
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