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Articles on Russian economy

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Replacing ships like the Moskva will be pricey. The flagship of Russia’s Black Sea Fleet recently sank after suffering damage. Russian Defense Ministry Press Service via AP

Russia faces first foreign default since 1918 – here’s how it could complicate Putin’s ability to wage war in Ukraine

Russia is on the verge of defaulting on its foreign debt, which not only could have severe economic consequences but could also complicate Putin’s ability to wage a prolonged war in Ukraine.
Russians in Moscow and elsewhere flocked to ATMs to withdraw cash, fearful that the ruble will plunge further due to Western sanctions. AP Photo/Victor Berzkin

US-EU sanctions will pummel the Russian economy – two experts explain why they are likely to stick and sting

By working with allies, the Biden administration has been able to place severe sanctions on Russia – including targeting Putin’s inner circle and banning banks from SWIFT.
A young man wearing a face mask reading “Against” in Pushkin Square in Moscow to protest the constitutional amendments that extended Russian President Vladimir Putin’s tenure to 2036. (AP Photo/Alexander Zemlianichenko)

Putin’s contentious victory could mean dark days ahead for Russia

A plebiscite to amend the Russian constitution was a way for Vladimir Putin to extend his presidency to 2036. But many questions about the vote could mean trouble for the Russian leader.
The Hryvna: a vulnerable currency Valentyn Ogirenko/Reuters

Forecast for Ukraine: stormy with rays of sunshine

A year after the Maidan revolution of 2014, Ukraine is at a critical juncture. The conflict with Russia has been escalating. Estimates of casualties exceed 5,000, with some reports putting the number at…
On thin ice: Russia’s economy and its satellite states. Pavel Kazachkov/flickr

The Soviet Union is dead! Long live the Russian economic union

Plummeting oil prices, conflict over Ukraine and the West’s imposition of sanctions have contrived to send the Russian economy into a tailspin. But it is not just Russia that is suffering – the economic…
German Chancellor Angela Merkel and French President Francois Hollande are in Kiev to discuss a peace plan. EPA/Roman Pilipey

Why peace in Ukraine won’t save the Russian economy

Angela Merkel and Francois Hollande’s push for peace in Moscow has helped fuel optimism about the prospects for Russia’s spluttering economy. On the morning of the meeting, the rouble had strengthened…
The first casualty of the Russian rouble crisis. Hint: it’s not Bruce Willis. www.trustbank.ru

Bank bailouts begin as Russia faces biggest challenge to date

The dramatic slide in the value of the rouble has claimed its first banking casualty. Trust Bank is being bailed out by the Russian Central Bank to the tune of US$530m. The emergency liquidity line is…

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