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 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's Nabiullina and her deputy Zabotkin on rates, economy and the budget

Russian Central Bank Governor Elvira Nabiullina and her deputy Alexei Zabotkin addressed a news conference on Friday after the central bank cut its key rate to 17% from 18%. Read More

Russia economy meltdown as Putin given dire 'two-year' warning

EXCLUSIVE: Vladimir Putin has been warned that he cannot financially sustain his war machine for much longer amid soaring inflation and costs. Read More

Pressure on Russia's economy intensifies as full-scale invasion of Ukraine continues

Russia's financial regulator has published an order defining nine criteria by which banks may introduce a temporary limit on cash withdrawals from ATMs. The statement on the website of the Central ... Read More

Even Russia has had enough of some Chinese products

Russia's trade with China is slowing due to market saturation, sanctions, and commodity market volatility. Bilateral trade surged after the Ukraine invasion but slowed to just 2% growth in 2024. 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