RUSSIALINK: “Is the Tide Turning for Russia’s IPO Wave?” – Moscow Times
With dealmaking and stock markets at record highs, and plenty of international competition, investors cool on latest Russian offerings […]
» Read moreTag: Economy
Russia Faces $2T in Stranded Hydrocarbon Assets in Net Zero World
Russia could be left with almost $2 trillion in worthless hydrocarbon assets if major economies hit their net zero targets over the coming decades […]
» Read moreRUSSIALINK: “Russian Inflation Jumps to 8.1%” – Moscow Times
Infrastructure in Russia’s Arctic: Environmental Impact and Considerations
(Kennan Institute – wilsoncenter.org/program/kennan-institute – Kennan Cable No. 73 – Thomas Eric Rotnem – Nov. 2021) Professor of Political Science and Associate Director, School of Government and International Affairs, Kennesaw State University In 2007, Russia signaled its commitment to pursue territorial claims in the Arctic by planting a titanium Russian flag on the polar seabed. Now, Russia is moving well […]
» Read moreRUSSIALINK: “Russia Hikes Rates as Economists Warn of Triple Threat to Economy” – Moscow Times
The Russian economy faces a surge in coronavirus cases, partial lockdowns and spiraling inflation […]
» Read morePutin’s Perestroika, One Driven Like Gorbachev’s by a Desire to Revive a Stagnating System, Path to Its Destruction, Inozemtsev Says
(Paul Goble – Window On Eurasia – Staunton, Sept. 8, 2021) Vladislav Inozemtsev, who has long argued that the Putin system is likely to remain stable for at least another decade, now says that the Kremlin is acting in ways that point to an attempt to fundamentally restructure the Russian political system before the 2024 presidential vote. And such a […]
» Read moreRUSSIALINK: “Econ Ministry ups 2021 Russian GDP growth forecast to 4.2% from 3.8%, lowers 2022 forecast to 3% from 3.2%” – Interfax
MOSCOW. Sept 8 (Interfax) – Russia’s Economic Development Ministry expects the country’s GDP to grow at least 4.2% in 2021 – these figures have been included in the new macroeconomic forecast, Economic Development Minister Maxim Reshetnikov said during a session at the Moscow Financial Forum. “The economy – 4.2% this year is the minimum growth estimate. This is what we […]
» Read moreRUSSIALINK: “In Small-City Russia, Elections Feel Irrelevant For Local Business Owners” – Moscow Times
Saransk’s entrepreneurs are divided over whether the government is on their side, but discontent is unlikely to be reflected in the upcoming Duma vote. (Moscow Times – themoscowtimes.com – Jake Cordell – SARANSK, MORDOVIA – Sept. 7, 2021 For barbershop owner Oleg Kechin, the first 18 months of the coronavirus pandemic were a breeze. After shutting for just four weeks […]
» Read moreMany Russians Prefer Village Life to Urban Because They Fear Change, Novikova Says
(Paul Goble – Window On Eurasia – Staunton, Aug. 31, 2021) Because so many Russians have left villages to move to the cities, it is often overlooked that many Russians choose to remain in villages and many who have moved into urban areas nonetheless view village life as preferrable in a variety of ways to the one they find themselves […]
» Read moreRUSSIALINK: “Russian Tech Exports Up Threefold Since 2018” – Moscow Times
The Kremlin has been on an aggressive drive to reduce Russia’s dependence on foreign-made technology since the imposition of Western sanctions […]
» Read moreRussians ‘Long Not for the USSR but for a Normal Life Not Dominated by Machines and Money,’ Khotinenko Says
(Paul Goble – Window On Eurasia – Staunton, Aug. 28, 2021) Many think that Russians long for the Soviet system as a whole, Vladimir Khotinenko says; but in fact, they are longing for a normal life, one in which human beings rather than money and machines are in control, as all too many of them are convinced is the case […]
» Read moreVIDEO JRL NEWSWATCH: “The Russian Private Sector Today: Challenges and Prospects in a Post-Pandemic World” – NYU Jordan Center/ Columbia University Harriman Institute
“On April 12th, the Jordan Center and the Harriman Institute co-hosted a panel on the private sector in Russia as part of the NYC-Russia Public Policy Series. Panelists included Simeon Djankov, Director of Development Economics at the World Bank; Dinissa Duvanova, Associate Professor of International Relations at Lehigh University; Alena Ledeneva, Professor of Politics and Society at University College London; […]
» Read moreJRL NEWSWATCH: “Economic Reality Is Dragging Russia Toward Climate Acceptance” – Bloomberg
“Europe’s border tax and China’s carbon-neutral ambitions might just force a fossil fuel giant to face climate facts.” “… Sooner than expected, Putin’s hydrocarbon-dependent regime has found itself watching key markets slip away as China targets net-zero emissions and Europe introduces measures including a levy on heavy industry imports that fail to meet its climate protection standards. Having lauded the […]
» Read moreRUSSIALINK: “Fighting inflation of global origin with internal instruments is counterproductive – Oreshkin” – Interfax
MOSCOW. Aug 2 (Interfax) – Trying to use internal instruments to curb inflation caused by a temporary wave of global demand is counterproductive and comes at a “high price” for the economy, Kremlin aide Maxim Oreshkin said. “This wave of demand is now passing over the entire global economy, affecting every economy. On one hand, it makes it possible to […]
» Read moreRussians are Poor, Don’t Trust Officials or Fear the West, but Want Putin Kept in Office, Academy of Sciences Survey Shows
(Paul Goble – Window On Eurasia – Staunton, July 15, 2021) Russians live in poverty and have the concerns that produces, they don’t trust officials and they don’t fear the West whatever the powers that be say, but despite both of these factors, they want to see Vladimir Putin remain as president, according to a major new study by the […]
» Read moreDespite Putin’s Urging, Russia’s Major Companies Aren’t Willing to Move Out of Moscow
(Paul Goble – Window on Eurasia – Staunton, July 1, 2021) In the course of his Direct Line television show, Vladimir Putin said he was against moving the capital of the Russian Federation from Moscow but does favor having Russian companies which operate there have their headquarters in Siberian cities and pay taxes there rather than as now in Moscow. […]
» Read moreJRL NEWSWATCH: “Russia Cuts Dollar Holdings From $119 Billion Wealth Fund Amid Sanctions” – Bloomberg
“Russia said it will eliminate the dollar from its oil fund [the National Wellbeing Fund] to reduce vulnerability to Western sanctions …. The wealth fund currently holds 35% of its liquid assets in dollars, … about $41.5 billion, with the same amount in euros and the rest spread across yuan, gold, yen and pounds. After the change, the fund’s assets […]
» Read moreMiddle Class in Russia Plays Very Different Role than in Western Countries, Gontmakher Says
(Paul Goble – Window On Eurasia – Staunton, May 29, 2021) The roughly ten percent of Russians who are middle class not only by virtue of incomes but by level of savings, education, and rank in the economy play a very different role than do the much larger middle classes in more developed Western countries, Yevgeny Gontmakher says. Middle classes, […]
» Read moreRUSSIALINK: “Russia’s Inflation Surge Is Not Temporary, Will Hurt Economy, Central Bank Warns” – Moscow Times
Surging inflation is not a temporary trend and poses a serious threat to Russia’s economic recovery, Central Bank chief Elvira Nabiullina has warned […]
» Read moreRUSSIALINK: “Russia Pushes SPIEF as World’s ‘Largest Post-Pandemic Meeting’” – Moscow Times
Some 5,000 guests are set to attend this week’s St. Petersburg International Economic Forum. (Moscow Times – themoscowtimes.com – June 1, 2021) Russia’s flagship business conference — the St. Petersburg International Economic Forum (SPIEF) — will return Wednesday following its cancellation last year due to the coronavirus. The annual forum, hosted in Russian President Vladimir Putin’s home city, is seen […]
» Read moreRUSSIALINK: “World Bank Urges Russia to Adopt Guaranteed Minimum Income to Slash Poverty” – Moscow Times
Russia spends $30 billion on social welfare, but only 10% goes to the extremely poor. (Moscow Times – themoscowtimes.com – May 26, 2021) The World Bank has recommended Russia overhaul its welfare state if it wants to slash poverty as the economy recovers from the coronavirus pandemic. The U.S.-headquartered organization said Russia should adopt a “guaranteed minimum income” — a […]
» Read moreRUSSIALINK: “80% of Russian Business Owners Fear Arbitrary Arrest” – Moscow Times
Most entrepreneurs say Russia is not safe for business and that court rulings are not independent […]
» Read moreJRL NEWSWATCH: “Russia’s weather goes crazy” – bne Intellinews
“In May it was hotter on the coast of the Arctic Circle than in the Mediterranean. Russia is heating up three times faster than the rest of the world.” “…. And Moscow has just reported its warmest days in May ever … while the rest of Europe was suffering from a cold snap that has seen gas prices … for […]
» Read moreRUSSIALINK: “Putin denies militarization of Russian economy, says ‘everyone trying to nibble will be kicked in teeth'” – Interfax
MOSCOW. May 20 (Interfax) – The Russian economy is not being militarized, however, anyone trying to encroach on its territory will receive a harsh response, Russian President Vladimir Putin said. “The same thing has happened now and always: as soon as Russia gets stronger, a pretext is found to limit its development. As one of our emperors once said, ‘Everyone […]
» Read moreRUSSIALINK: “Russia’s Economy Almost Hits Pre-Coronavirus Levels; GDP was down just 1% in the first quarter of 2021 compared to last year” – Moscow Times
Russia’s economy shrank by 1% in the first quarter of 2021, the Rosstat statistics agency estimated […]
» Read moreJRL NEWSWATCH: “U.S., Russia and Brussels at war over energy” – Le Monde Diplomatique
“The battle over natural gas: Worsening relations between Europe and Russia are reflected in tensions over energy, in which US demands, Russian and German interests, the EU’s neoliberal doctrine and the climate emergency all play a part.” “… The Russia-Ukraine conflict … the Nord Stream 2 pipeline … and tensions … over offshore reserves near Cyprus, have put natural gas […]
» Read moreJRL NEWSWATCH: “Russia Raises Rates Amid Standoff With West, Signs of Covid-19 Economic Recovery; Central bank increases its main interest rate by 50 basis points to 5%” – Wall Street Journal
“… The Bank of Russia raised its main rate to 5% from 4.5% …. [saying] it expected inflation to be higher than previously anticipated, citing a rebound in demand as Russia’s Covid-19 vaccination program progressed. … The central bank signaled concern about other developments …. follow[ing] [U.S. sanctions] bar[ring] U.S. banks and institutional investors from buying new Russian government ruble-denominated […]
» Read moreRUSSIALINK: “Should Russian Banks Be Scared of SWIFT Disconnection?” – Moscow Times
Talk of financial Armageddon should Russia be kicked out of the system may be overblown. (Moscow Times – themoscowtimes.com – Jake Cordell – April 22, 2021) Jake covers business & economics for The Moscow Times. Ukraine has joined the chorus of voices calling for Russia to be disconnected from SWIFT — the financial messaging network that underpins the global banking […]
» Read moreRUSSIALINK: “Central Bank sees no risks in disconnecting Russia from international payment systems; it would be very unfavorable for them – CBR first deputy governor” – Interfax
MOSCOW. April 14 (Interfax) – The Central Bank of Russia (CBR) does not see any risks in disconnecting Russia from the international payment systems, as this would be unfavorable for them, CBR first deputy governor Olga Skorobogatova said during a briefing on Wednesday. “If we are talking about the current situation, then I believe that it is rather calm and […]
» Read moreRussia Slashes 2021-2022 Oil Production Forecasts
Russia is slashing … estimates for domestic crude oil, gas, and coal production for 2021 and 2022, according to … the government’s program for energy development […]
» Read moreRUSSIALINK: “Virus-Driven Migrant Shortage Keeps Russia From ‘Ambitious Plans’ – Kremlin” – Moscow Times
… Russia’s government estimates … the country’s population decline hit a 15-year high in 2020, driven by record-setting excess deaths and outmigration linked to Covid-19 border closures […]
» Read moreRussia Optimistic About Rising Demand As OPEC+ Agrees To Increase Oil Output
The OPEC+ group of oil producing countries, led by Saudi Arabia and Russia, has agreed to increase oil output gradually over the next months […]
» Read moreRUSSIALINK: “Landmark Imperial-Era Moscow Grocery Store to Close After 120 Years” – Moscow Times
“The Yeliseyevsky Food Emporium … is due to close its doors on April 11 after 120 years […]
» Read moreJRL NEWSWATCH: “Russia seizes on Suez blockage to promote merits of Arctic route” – Financial Times
Moscow is busy highlighting the northern sea route and Nordstream as alternatives for world trade […]
» Read moreRUSSIALINK: “One Year On: How Russia’s Coronavirus Lockdown Hit the Economy” – Moscow Times
Russia avoided mass unemployment and a sharp fall in GDP but has one of the world’s highest excess death tolls […]
» Read moreRUSSIALINK: “Russian Venture Capital Market Falls 20% During Pandemic” – Moscow Times
Russia saw a 20% contraction in venture capital investments last year, according to Dsight, a Moscow-based business intelligence firm […]
» Read moreRUSSIALINK: “Could Russia Benefit From the Suez Canal Blockage?” – Moscow Times
The Kremlin wants to use the grounding of the Ever Given ship to promote its Northern Sea Route and counter European concerns over Nord Stream 2. (Moscow Times – themoscowtimes.com – Jake Cordell – March 26, 2021) Almost $300 million worth of Russian oil products are waiting to enter the Suez Canal, which remains closed following the grounding of the […]
» Read moreRUSSIALINK: “Russians’ Debt Burden Hits Record High – Central Bank” – Moscow Times
The share of income Russian borrowers have to spend on repaying debts hit a record high at the start of 2021, according to Central Bank data […]
» Read moreRUSSIALINK: “Russia Sees Record High Average Temperatures in 2020: Institute” – Moscow Times
Economists have predicted that Russia stands to reap benefits from hotter temperatures, primarily through expanded navigation and exploration in the Arctic […]
» Read moreJRL NEWSWATCH: “Tentative recovery in sight as Russia’s real wages, unemployment improve” – Reuters
“… [Russia’s] central bank expects the economy to return to pre-crisis levels before the end of [2021] … central bank [governor] Elvira Nabiullina, said … after a surprise 25-basis-point rate increase, brought about by rising inflation and geopolitical risks. … [The government’s] Rosstat[] said … real wages … rose 0.1% year-on-year in January. … Economic growth and … recovery in […]
» Read moreCalls by U.S. for Economic Transition in Russia From Reagan Through Trump
… Russia’s transition to a market economy is at least partially completed, though estimates point to the state holding between 33 and 46 percent of the economy … concentrated in “strategic” sectors such as energy and banking […]
» Read morePolitical Consequences of the Economic Crisis in Russia
RUSSIALINK: “Falling Profits, But Corporate Russia Stays in the Black” – Moscow Times
JRL NEWSWATCH: “Russians name rising prices as the main problem facing society” – Meduza
“Russians consider rising prices the main problem facing their society, according to survey data from the independent Levada Center shared with Meduza. This opinion was held by 58 percent of survey respondents. … Those surveyed also named poverty (40 percent), corruption (39 percent), and rising unemployment (36 percent) as important issues. … Bloomberg listed Russia among ‘five hotspots’ where rising […]
» Read moreRussians Want Moscow to Spend Less on Military and More on Domestic Needs, Higher School of Economics Poll Shows
[According to polls,] more Russians now than two years ago want their government to spend more on healthcare and education and only half as many want it to devote more money to defense and security […]
» Read moreAny Increase in Western Sanctions on Russia will Only Make It Easier for Kremlin to Repress Its People, Inozemtsev Says
(Paul Goble – Window On Eurasia – Staunton, Feb. 13, 2021) One of the paradoxes of relations between Russia and the West is that when Russian actions at home or abroad prompt Western governments to react by seeking to impose penalties on Moscow, those penalties only make it easier for the Kremlin to repress its population at home, Vladislav Inozemtsev […]
» Read moreRUSSIALINK: “Gazprom Sets Record High Gas Exports to Europe” – Moscow Times
Russia’s gas exports to Europe hit a record high in January, according to … VTB Capital, as pressure over … Nord Stream 2 … continues to mount […]
» Read moreRussia Expects Oil Between $45 And $80 By 2035
Crude oil prices will trade in a range between $45 a barrel and $80 a barrel in the period until 2035, under a set of scenarios developed by the Russian energy ministry […]
» Read moreRUSSIALINK: “Pandemic Pushed Russians’ Household Finances to Decade Low” – Moscow Times
The coronavirus pandemic pushed Russian living standards to their lowest level in a decade, [according to] new economic data published by the country’s statistics service […]
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