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Son of Russian Security Chief Acquires Stake in Large Far East Gold Project

If the projected gold resources are confirmed, Tan could rank among Russia's largest undeveloped gold deposits.

Russian Railways Forms Task Force to Address Fuel Shortages

The company highlighted growing concern over aviation fuel, noting that keeping Russian airports supplied has become a “zone of special attention”...

Tatneft Limits Gasoline Sales Following Ukrainian Drone Strike on Its Refinery

In some regions, passenger vehicles are now restricted to purchases of 30 liters of gasoline and 60 liters of diesel at Tatneft gas stations.

Russia Offers India Access to Major Rare Earth Deposit in Siberia – Reuters

The Tomtor deposit, located in the republic of Sakha (Yakutia), is considered one of the world's most significant untapped rare earth resources.

Fuel Shortage Hits Crimea's Tourism Industry as Summer Bookings Canceled

Yet some industry participants argued that it was too early to declare the tourist season a failure.

Russia's Steel Output Falls to 15-Year Low as Sanctions, Weak Demand Bite

Steel output declined to 67 million metric tons last year, down 12% from pre-war 2021 levels.

Russian Lawmaker Calls for Terrorist Designation for SpaceX as Company Readies Blockbuster IPO

SpaceX has provided Starlink satellite internet terminals to Ukraine since the early stages of Russia's full-scale invasion.

VK Executives Received Multimillion-Dollar Bonuses Despite Years of Losses, Report Says

The technology group remains deeply unprofitable despite receiving substantial state support.

Russia Confiscates $7.6Bln in Assets in Largest Nationalization Yet

The Kremlin's campaign to bring private assets under state control has already transferred businesses worth an estimated $89.7 billion to government ownership...

Russian Oil Output Falls for Sixth Straight Month as Ukrainian Drone Attacks Hit Infrastructure

The decline leaves Russia producing about 690,000 bpd below its OPEC+ quota, according to Bloomberg calculations based on OPEC data.

Russian Tax Relief to Bypass 1.5M Small Businesses on Patent Regime

The number of businesses benefiting from the VAT threshold freeze will be significantly smaller than the number excluded from the measure.

Russian Fashion Retailer Gloria Jeans Moves Headquarters to Dubai After Shutting Factories

The relocation comes as Gloria Jeans restructures its business amid declining sales, shrinking profitability and the closure of both factories and stores...

Russia Says No Budget Crisis Despite Deficit Exceeding Annual Target

"We do not believe we have a budget crisis," Deputy Finance Minister Irina Okladnikova said. "The budget is being executed according to schedule."

Russian Economists Raise Questions Over Industrial Output Data

Since the start of the year, assessments of Russia's industrial growth have diverged sharply from figures published by state statistics agency Rosstat...

Third Government Auction Fails to Sell Stake in Russian Gold Miner

Since May, the Russian government has been trying to sell a 67.2% stake in the Yuzhuralzoloto Group of Companies.

Russian Oil Firms Receive Nearly $10Bln in State Subsidies as Refinery Disruptions Mount

Analysts at Raiffeisenbank said the increase in compensation payments reflects growing difficulties in the refining sector.

Russian Urals Oil Returns to Discount as Asian Refiners Cut Purchases – Reuters

The discount marks a sharp reversal from April and May, when Urals crude traded at premiums of $7-$8 per barrel to Brent.

Russian Stocks Slide to Lowest Level Since October as Hopes for Ukraine Peace Deal Fade

Investment analysts note that the MOEX’s 14-week slide has already surpassed its historic losing streak during the 2008 global financial crisis.

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.

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