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’s new middle class can’t afford for Putin’s war to end

The Russian city of Volgograd was the location of one of the bloodiest fights in world history. The seven-month-long Battle of Stalingrad, as the city was known in 1943, claimed half a million Soviet ... Read More

Russia slashes 2025 economic growth forecast to 1.5% from 2.5%

Spending on war in Ukraine, high interest rates slowing economy Official forecast was 2.5% for 2025 Russia also cuts forecast for industrial production Russia's key interest rate is at 18% MOSCOW, Aug ... 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

Russian oil refineries, terminals burn as Ukraine hits Putin's war economy

Ukraine hit 10 Russian refineries in recent days Some 17% of Russian refining capacity disrupted Some regions experience gasoline shortages Kyiv raising stakes for potential peace deal MOSCOW, Aug 25 ... Read More