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Russia

Russia funnels nearly half its budget into war as social funds shrink

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World News

Russian central bank cuts GDP growth forecast to zero

Russia's central bank has cut its 2026 GDP forecast to 0.0-1.0% and expects faster inflation as the fuel crisis drives up prices for many goods and services, its head Elvira Nabiullina said.

Business

Bank of Russia flags risks of faster inflation

Analysts and businesses had expected a sharper key rate cut, but inflationary risks are holding back monetary easing, which the Russian regulator gingerly links to the war.

Europe News

Russia faked economic data to mask damage from its war, report says

Swedish intelligence said Russia has been covering up a weak, debt-driven economy hit by war costs and sanctions, warning of rising inflation and banking risks.

France

France boards tanker suspected of being part of Russia's shadow fleet

The interception took place in the Western Mediterranean and was carried out in cooperation with allies, including the United Kingdom, which monitored the ship.

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Russia

Russian invasion of Ukraine: How the war is impacting Russia’s economy?

Rising VAT and tax reforms are hitting Russia’s small businesses hard. Beauty salons in St. Petersburg and Moscow’s Mashenka bakery face closure as costs soar, demand drops, and owners struggle to stay afloat amid stricter regulations and economic pressures from four years of war.

24 February 2026

Economy

Italian firms in Russia lead to €1bn boost for Kremlin war coffers

Since the full-scale invasion of Ukraine in 2022, Italian companies paid over €1 billion in taxes to Russia, half of which went to military spending to finance the ongoing destruction of Ukraine.

11 November 2025

Economy

How long can the Russian economy continue to fund the frontline?

The Russian economy is balancing on the edge of recession, yet the war could go on for years. Its financing appears to have no immediate major obstacles, according to experts.

28 October 2025

Russia

Kremlin bans fuel exports amid Ukraine's strikes on Russian oil sector

Russia’s ban on petrol exports is now extended until the end of the year as shortages continue to hit the domestic market and spread across the regions. Kyiv says that in less than two months, Ukrainian forces struck 85 high-value targets in Russia.

26 September 2025

Business

Russian economy is stagnating amid Ukraine war, says Sberbank CEO

German Gref said the country's central bank should lower interest rates to avoid a recession.

4 September 2025

World News

Pressure on Russia's economy intensifies as war in Ukraine continues

Russians are likely to face higher taxes as the burden on the budget grows and the Central Bank of Russia says that "the economy needs a breather."

EuroVerify

Is Russia producing a year's worth of NATO ammunition in three months?

NATO Secretary General Mark Rutte has repeatedly said that Moscow’s annual ammunition production capacity is four times greater than that of the western alliance.

Economy

Which countries will lose the most if tensions reignite around Iran?

Russia could benefit from an escalating situation in the Middle East, while China and Europe would see their economies suffer if the ceasefire between Iran and Israel fails to hold.

Business

UK elite law firm fined over €500,000 for Russian sanctions breaches

The firm voluntarily reported the breaches to the OFSI, although the UK's Treasury body said it must remain "steadfast" in its commitment to sanctions.

Economy

Billions on ice: What to do with Russia's frozen assets?

With US support for Ukraine in doubt, Kyiv's European allies are weighing whether to seize $300bn (€274bn) in frozen Russian assets.

Ukraine

Trump claims war in Ukraine could end if price of oil falls

Addressing the World Economic Forum, the US president pledged to apply pressure on OPEC, claiming that a drop in the price of oil would end Russia's full-scale invasion of Ukraine.

24 January 2025

Russia

Russian central bank holds interest rate at 21%

The decision has brought criticism from influential business figures, who say high rates are hindering business activity and preventing growth.

20 December 2024