Russia’s central bank reveals GDP is shrinking, in a sign Putin’s war economy has slipped into recession

A chart in a central bank report showed GDP shrank on a sequential basis in the first and second quarters, meeting the definition of a technical recession. Read More

Russia’s Wartime Economy Creaks Under Inflation and Fuel Shortages

Russia’s war-driven economy is slowing sharply as fuel shortages, soaring inflation, and heavy defense spending push the country toward stagnation and a potential recession. Read More

Russia cuts interest rate to 17% as wartime economy slows while deficit grows

Russia’s central bank is cutting its benchmark interest rate by one percentage point to 17%, a step that could support growth and business activity as the economy slows and the government budget defic ... Read More

Russia cuts interest rate to 17% as strains show in wartime economy

Russia’s central bank is cutting its benchmark interest rate by one percentage point to 17%, a step that could support growth and business activity as the economy slows and the government budget defic ... Read More

Putin's clash with Russia's top banker shows increasing disconnect over war economy, experts say

A recent clash between Russian President Vladimir Putin and Sberbank CEO German Gref shows an increasing disconnect between the Kremlin and Russia's economic community, experts say. Gref, head of ... Read More

Russia delivers third rate cut as wartime economy slows, but inflation risks loom

Russia’s central bank cut rates to 17% as the economy slows, inflationary pressures rise, and military spending stretches the state budget. Read More

Russia Slashes 2025 Economic Growth Forecast to 1.5% From 2.5%

MOSCOW (Reuters) -Russia sees economic growth in 2025 slowing to 1.5%, far below the earlier 2.5% forecast, as high interest rates imposed to reduce inflation have stifled borrowing, Finance Minister ... Read More

EU's 19th sanctions package against Russia expected to be ready in September, Kallas says

The European Union's 19th package of sanctions against Russia is expected to be ready in September, top EU diplomat Kaja Kallas announced on Aug. 19, as the EU ramps up its pressure on Moscow in hopes ... Read More

EU Considers Secondary Sanctions to Hit Russia’s War Effort

The European Union is mulling introducing secondary sanctions in an effort to prevent third countries from helping Russia circumvent the bloc’s existing punitive measures against Moscow, according to ... Read More

Putin lambasts trade sanctions on eve of visit to China

BEIJING (Reuters) -On the eve of a visit to China, Russian leader Vladimir Putin blasted Western sanctions as his country's economy teetered on the brink of recession, wounded by trade curbs and the ... Read More