Russian economy

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Russia’s annual inflation slowing down to 16.19%

Russia’s annual inflation slowing down to 16.19%

Annual inflation in Russia geared down to 16.19% from June 25 to July 1, compared to 16.22% a week earlier, the Ministry of Economic Development says in its price review. "Prices accelerated over the week from June 25 to July 1, …

UK considering seizing Russia's frozen assets

UK considering seizing Russia's frozen assets

UK Foreign Secretary Liz Truss does not exclude seizing the frozen assets of Russian citizens in the United Kingdom and passing them on to Ukraine. "I am supportive of the concept. We are looking at it very closely. The Canadians …

Russia's economy in May fell 4.3% year on year

Russia's economy in May fell 4.3% year on year

Russia's economy shrank by 4.3% in May year on year after falling by a revised 2.8% in April, the economy ministry said on Thursday. In January through May, the economic growth was 0.5% in year-on-year terms, the ministry said. …

Moody’s: Russia defaults on Eurobonds

Moody’s: Russia defaults on Eurobonds

Moody's said that Russia had defaulted on its foreign debt obligations, according to a statement published on the agency’s website on Monday. "On 27 June, holders of Russia's sovereign debt had not received coupon …

Kremlin disagrees with Russia's alleged default reports

Kremlin disagrees with Russia's alleged default reports

The Kremlin does not agree with the statement about alleged default of Russia on foreign debt, Kremlin spokesman Dmitry Peskov said on Monday. "No, we don't agree," Peskov told reporters, when asked the corresponding …

Finnish paint manufacturer Tikkurila leaves Russian market

Finnish paint manufacturer Tikkurila leaves Russian market

PPG (owner of Tikkurila) announced its withdrawal from the Russian market, the company said in a statement on its website. "Currently, we continue to make only a minimum amount of sales sufficient to generate enough local currency …

Russia reports weekly deflation of 0.12%

Russia reports weekly deflation of 0.12%

Deflation in Russia on June 11-June 17 amounted to 0.12%, according to the Russian State Statistics Service. A week earlier, deflation in Russia reached the level of 0.14%. Since the beginning of June, consumer prices have …

SPIEF demonstrated Russia's self-sufficiency

SPIEF demonstrated Russia's self-sufficiency

The anniversary XXV St. Petersburg International Economic Forum ended in St. Petersburg today. According to Anton Kobyakov, adviser to the President of the Russian Federation, executive secretary of the organizing committee, the …

Russian economy to remain open

Russian economy to remain open

The Russian economy will be open. This was stated by Russian President Vladimir Putin, durung a meeting with young entrepreneurs at VDNKh on the eve of the St. Petersburg International Economic Forum. He stressed that the closed …

Russian inflation slows to 17.1% in May

Russian inflation slows to 17.1% in May

Consumer inflation in Russia slowed to 17.10% in year-on-year terms in May from 17.83% in April, which was its highest level since January 2002, data showed on Wednesday, days before the central bank's rate-setting meeting. The …

Russian GDP declines 3% in April

Russian GDP declines 3% in April

Russian GDP fell an estimated 3.0% year-on-year in April after growing 1.3% in March, 4.1% in February and 5.6% in January, the Economic Development Ministry said in an economic review. The economy grew an estimated 1.7% year-on-year in …

Russia's weekly inflation at zero as rates meeting looms

Russia's weekly inflation at zero as rates meeting looms

Russia recorded flat consumer prices after modest deflation the week before, data showed on Wednesday, ahead of the central bank’s rate-setting meeting scheduled for June 10. Weekly inflation spiked to 2.22% in early March, but …