Category: General

Europe and the US are still moving in different directions over sanctions. This week Britain greatly expanded its sanctions list to include major Russian oil companies. But the practical effect may be limited unless other countries join in. Meanwhile, after speaking with Putin over the phone, President Donald Trump said that tightening sanctions right now would be ill-advised. Britain on Wednesday expanded its Russia sanctions, hitting the Mir national payment system along with several manufacturers and distributors of microelectronics from China, Singapore and Turkey. In addition, sanctions were imposed against the so-called shadow fleet and several small banks. But the biggest development…

Hello! Welcome to your weekly guide to the Russian economy, written by Alexander Kolyandr and Alexandra Prokopenko and brought to you by The Bell. This week we analyze the possible impact of Donald Trump’s sanctions on Russian oil majors, Rosneft and Lukoil. We also cover the central bank’s cautious rate-cut and stagflationary forecasts. For the first time since his return to the White House, U.S. President Donald Trump imposed new sanctions on Russia. In a serious move that significantly increases the cost of Russia’s refusal to end the war, Washington hit Rosneft and Lukoil with sanctions — a move…

Hello! This week we dig into the myth Russia tells itself about Western sanctions — that they don’t work — highlighting where Moscow has got it wrong. Russia says it isn’t bothered by sanctions. The data says otherwise “Sanctions aren’t working.” That’s been one of the key narratives that Russia’s authorities have peddled since invading Ukraine. The Kremlin is now trying to convince Donald Trump of the same message as it seeks to normalize relations with the United States. But a recent study by a group of economists has shown that sanctions have had a very real impact on…

As we predicted, the Central Bank is not eager to slash interest rates. On Friday, it reduced its base rate by just 50 basis points to 16.5%. This sent a clear signal that its monetary policy will continue to be very cautious, while leaving it some room for maneuver at the final rate-setting meeting of the year in December. In its statement, the Bank said that the economy is still returning towards a balanced growth trajectory, but lending growth accelerated in recent months and inflation expectations remain high. The bank pledged to maintain a tight policy “which is essential to return inflation…

Hello! Welcome to your weekly guide to the Russian economy, written by Alexandra Prokopenko and Alexander Kolyandr and brought to you by The Bell. This week we look at how Russia is abusing the West’s financial infrastructure and compliance checks to crack down on Kremlin opponents who have fled the country. Russia weaponizes global compliance rules to reach exiled dissidents Almost four years into its war on Ukraine, the Russian authorities continue to ramp up repression against critics of the invasion and the Kremlin. Moscow has started routinely adding dissidents to its “terrorists and extremists” blacklist, maintained by the…

Hello! This week we cover the exiled Russians being locked out of their bank accounts, and why it could fuel hostility towards the West among the liberal, anti-war, anti-Kremlin crowd. Anti-Putin Russians in Europe caught up by latest sanctions Since the EU introduced its latest packet of sanctions on Moscow last month, Russians living in the bloc have faced a new problem. Revolut, one of the most popular online banks, has started freezing the accounts of Russians that don’t have full permanent residence permits. Thousands of people have been affected, including those who have been waiting months for residence…

Russia has recorded its first rise in unemployment since February, climbing from a record low of 2.1% to 2.2% in September. Super-low unemployment, which Vladimir Putin loves to hail as an example of Russia’s economic success, is a sign of the on-going overheating in the labor market. Russia has long faced a labor shortage. The underlying reason — demographics — has not changed for years. The population is aging, birth rates are not growing. Even putting the pension age up five years has not solved the problem. For many years, the government satisfied labor needs via migrants from Central Asia, and,…

Hello! Welcome to your weekly guide to the Russian economy, written by Alexander Kolyandr and Alexandra Prokopenko and brought to you by The Bell. This week we analyze the implications of Washington blocking a multi-billion-euro deal involving sanctioned Russian oil giant Lukoil, and a partial climbdown by the government over its controversial tax hikes. US blocks ‘Kremlin puppet’ from Lukoil deal Swiss Commodity trader Gunvor’s bid for Lukoil’s foreign assets, worth around $20 billion, collapsed after the US Treasury Department dubbed the company a “Kremlin puppet.” As The Bell explains, this saga is about much more than just the…

Hello! This week we cover Europe ending the issuance of multi-entry visas for Russians, a step that will likely do little to stop nefarious actors and Russian spies infiltrating the bloc. EU ends multi-entry visas to stop Russian espionage, but spies likely to keep flowing In the fourth year of Russia’s invasion of Ukraine, the EU has imposed sweeping restrictions on all Russians by making it harder for them to get European visas. From now on, Russians can no longer apply for multi-entry visas, meaning every visit to the EU will require a new application. European leaders believe this…

Leaders welcome deal reached at UN climate summit as step forward but say 'more ambition' needed to tackle the crisis. Source link

Zelensky was also holding phone calls with European counterparts, as he promised to work around the clock to ensure the final peace agreement protects Ukraine’s future. Source link

The government is easing the terms of one aspect of its tax crackdown announced earlier this fall — the legislation that would force small businesses to pay 22% VAT after their revenue passes 10 million rubles (about $125,000). Prime Minister Mikhail Mishustin announced the easing of the reforms at a government meeting, but did not go as far as a complete U-turn. Instead, the annual revenue threshold will be reduced gradually. First to 20 million rubles in 2026, then 15 million in 2027 and 10 million in 2028. There was no discussion of the initial reform within the business community, which greeted it…

Hello! Welcome to your weekly guide to the Russian economy, written by Alexander Kolyandr and Alexandra Prokopenko and brought to you by The Bell. This week we detail growing concerns about the health of the financial sector, and look at how the cumulative impact of sanctions is weighing on many parts of the economy. Banks under pressure from credit crisis The rise in the level of unpaid consumer loans at Russian banks is hard not to notice. The central bank has fueled worries by proposing stricter requirements on consumer loan applications. Is a crisis on the horizon? Source link

Hello! This week we dive into how Russia finances its war on Ukraine, and why it could be storing up problems for the future. How much is Russia borrowing for its war, and what will the consequences be? Russia’s invasion of Ukraine has forced Moscow to abandon its conservative financial approach and borrow more and more to fuel the military and its economy. The government plans to cover almost the whole of next year’s budget deficit by borrowing on the domestic market. This week the government tripled its planned bond placements for the final quarter of 2025. Russian officials, President Vladimir…

Lukoil’s difficulty in disposing of its foreign assets has captured global headlines, but it is far from the only sign that sanctions are causing more and more problems in the Russian economy. The issues are evident in several other places as well. Lukoil asked the US Treasury Department to defer the ban on transactions with it, due to come into force on Nov. 21. The Treasury responded on Friday evening by extending the authorization for transactions with Lukoil’s foreign assets until December 13. The Russian company needs time to try to find new buyers for its overseas assets following the collapse of its…

Hello! Welcome to your weekly guide to the Russian economy, written by Alexandra Prokopenko and Alexander Kolyandr and brought to you by The Bell.  This week, we analyze how Russia’s economic slowdown is hitting harder, with worse still on the horizon, and look at Russia selling off its gold reserves. The slowdown accelerates Russia’s economy continues to cool. In Q3, GDP growth dipped to 0.6% and in Q4 could drop into negative territory. Even defense manufacturing failed to grow, probably because it is at the limit of its physical capacity. In 2026, the economy could move into long-term stagnation.…

Moscow says it is successfully pushing deeper into Zaporizhia and Pokrovsk in Donetsk and taking more territory. Source link

The 27-nation bloc is scrambling to shore up its air defense capabilities after NATO jets shot down several Russian drones over Poland in September. Source link

Kremlin-backed authorities said emergency crews managed to restore electricity in Horlivka and parts of Donetsk and Makiivka later on Monday. Source link

Oil prices dipped slightly amid the news, while investors were said to be assessing the long-term impacts of the Ukrainian attacks on crude exports. Source link

Finnish border guards had arrested the man, whose name and age were not disclosed, on June 17 after he illegally crossed the border through a forest near the town of Kitee in eastern Finland. Source link

The discount on Urals versus North Sea benchmark Brent widened to $23.51 per barrel, the largest since March 2023. Source link

One of the new measures lowers the age at which minors can be charged with sabotage or terrorism to 14 from 16. Source link

The new system, known as Gorodovoy, consists of eight vehicles that patrol the city and scan buildings as they pass. Source link