Tag Archives: Russian economy

In the days after Russia invaded Ukraine in February 2022 and the west imposed sanctions, Russia’s ruble collapsed. The number of rubles to one US dollar quickly fell from about 78 to 138, a huge move in the world of forex, and terrifying for those with their wealth in the …

The Kremlin said on Thursday that no agreement had been reached with Turkey on the export of Ukrainian grain shipments through the Black Sea. Kremlin spokesman Dmitry Peskov told reporters that work was continuing to reach an agreement. Turkey has been pressing for an agreement between Russia and Ukraine on …

The Kremlin on Thursday rejected accusations from the United States and the European Union that Russia was blocking grain exports from Ukraine, blaming the West for creating this situation due to the imposition of sanctions.“We do not categorically accept these accusations. On the contrary, we hold Western countries responsible for …

Oil prices rose to a seven-week high on Tuesday, buoyed by continued pressure from the European Union to ban Russian crude imports that would reduce supply, and as investors focused on increasing demand after the easing of Chinese coronavirus lockdowns. On Monday, EU foreign ministers failed in their efforts to …

An internal report seen by Reuters showed today, Tuesday, that Russian crude oil production fell by about 9% to 9.16 million barrels per day, based on assessments of sources from OPEC +. The report stated that the commitment of members of the OPEC + group to production cuts rose to …

The Russian currency has reportedly made large gains in spite of the sanctions imposed on Moscow by the United States and Washington’s allies.The US and EU attempted to cripple the Russian economy, but the value of the ruble is heading up. After two months of imposing state-crushing sanctions, the ruble …

Latest economic data published by Moscow do not track private-sector surveys that show a sharp contraction in Russian manufacturing. The consequences of harsh economic sanctions against Russia are already being felt across the globe. Experts are busy explaining the significance of what has happened so far and how the conflict …

Russia’s annual inflation accelerated to 17.70 percent as of April 22, the highest level since early 2002, and up from 17.62 percent a week ago, due to sharp price hikes amid Western sanctions, the Russian Economy Ministry said on Wednesday. Prices of just about everything, from vegetables and sugar to …

Russian gas pipeline operator Gazprom continued to supply Europe with natural gas through Ukraine on Thursday, according to European consumer demands, data from a Ukrainian gas pipeline operator showed. The data indicated that requests amounted to 63.4 million cubic meters on April 28.

Russian President Vladimir Putin on Wednesday said that Western plans to suffocate Russia’s economy with sanctions have failed, reported Reuters. Putin accused the West of wanting to cut Russia up into different pieces and accused the West of pushing Ukraine into a conflict with Russia. Putin reiterated that Russia will …