Russian analysts cite the rise in oil prices and economic reforms, including the devaluation of the ruble, among the main reasons for the recent improvement in the country’s economic performance. (Russia Beyond the Headlines – rbth.ru – KIRA EGOROVA, RBTH – June 10, 2016) There may be a light at the end of the tunnel for the beleaguered Russian economy; […]
» Read more
(Bloomberg – bloomberg.com – Leonid Ragozin – June 9, 2016) Russia embarks on an almost two-year-long election season this summer that ends with a presidential contest in 2018. But unlike previous years, the country’s faltering economy has taken its toll on lower-income voters who blame the Duma and the cabinet for their plight. Five years ago, allegations of vote rigging […]
» Read more
(Paul Goble – Window on Eurasia – Staunton, June 8, 2016) That Vladimir Putin should express his admiration and support for presumptive Republican presidential candidate Donald Trump is no surprise. Not only does Trump reflect some of the same populist and nationalist themes the Kremlin leader does, but Putin welcomes Trump’s unilateralism and isolationism as something that might benefit Russia. […]
» Read more
(Moscow Times – themoscowtimes.com – June 8, 2016) Russia’s State Duma has passed a new bill obliging companies to disclose information on their beneficiaries at the request of the authorities, the TASS news agency reported Tuesday. The bill was prepared as part of the country’s push to improve economic transparency and decrease the use of offshore holdings. Russian President Vladimir […]
» Read more
MINSK. June 8 (Interfax) – Oil and gas prices are expected to rise, but there will be no return to previous situation, Economic Development Minister Alexei Ulyukayev told reporters in Minsk. “Of course a recovery of oil and gas prices is under way. Our low was $130 per thousand cubic meters, now it is $170 or more and I think […]
» Read more
(Interfax – June 8, 2016) Most Russians (71 percent) are expecting the European Union to extend sanctions against Russia this summer, and 15 percent claim the opposite, the Levada Center told Interfax. Fourteen percent of 800 respondents polled in 137 populated localities in 48 regions on May 27-30 could not predict what the European authorities would do. The share of […]
» Read more
Russian entrepreneurs have decided to bring their money back home from offshore havens. Statistics show that the largest amounts have returned to Russia from the Bahamas, the British Virgin Islands and Bermuda. Additionally, $1 billion or more has entered Russia from such countries as Germany, France and the UK. (Russia Beyond the Headlines – rbth.ru – ALEXEI LOSSAN, RBTH – […]
» Read more
Contracts for laying the Power of Siberia pipeline from Russia to China are being dished out mainly without tenders and are often handed to close friends of Russian President Vladimir Putin. However, Russian analysts deny that anything is amiss and insist this is related to Gazprom being afraid of not finishing them on time for its Chinese partner. (Russia Beyond […]
» Read more
It may be another year before the Russian economy recovers from deep recession and returns to growth, the country’s economic development minister said. With a 3.7 percent decline in gross domestic product last year … Ulyukayev said the country was in a deep recession. The Russian Central Bank, however, said earlier this week that inflation was stabilizing and the economy […]
» Read more
… What Merkel didn’t say … is that behind the scenes, her government has long since developed concrete plans for a step-by-step easing of the sanctions against Russia and that the process could begin as early as this year. … the message has been that the trade and travel restrictions will only be lifted once all the provisions foreseen by […]
» Read more
The Russian government’s privatization drive soured in a village called Milk. The dairy plant here that for more than a century has churned out Russia’s most-recognizable brand of butter was scheduled to be auctioned in mid-February, the latest target to raise cash for the budget. But after locals, activists and lawmakers held rallies and petitioned President Vladimir Putin and other […]
» Read more
The Russian Finance Ministry has issued 10-year Eurobonds worth $1.75 billion with an annual yield of 4.75 percent. What is Moscow hoping to achieve with the issue, who has lent money to Russia, and how likely are they to get their money back? These and other questions are answered here. (Russia Beyond the Headlines – rbth.ru – ALEXEI LOSSAN, RBTH […]
» Read more
MOSCOW. May 30 (Interfax) – There is hope for an improvement of Russia-EU relations, and the participation of European Commission President Jean-Claude Juncker in the St. Petersburg International Economic Forum can help that, Kremlin press secretary Dmitry Peskov said. “On the whole, the subject of Russia-EU relations has paramount importance, relations with the European Union are still crucial for the […]
» Read more
(Paul Goble – Window on Eurasia – Staunton, May 28, 2016) For the last decade, Vladimir Putin has pursued a plan to isolate his country from the outside world by pursuing rearmament and confrontation with the West, Andrey Illarionov says. Now, there is evidence that the Kremlin leader is stepping up his efforts I that direction even during the current […]
» Read more
Zhukovsky. May 30 (Interfax) – Russian Prime Minister Dmitry Medvedev has opened the Moscow aviation hub’s fourth international airport, Zhukovsky, an Interfax correspondent reported. One of the first airlines to begin scheduled flights from Zhukovsky will be Kyrgyzstan’s Air Kyrgyzstan. The first flight is scheduled for June 20, a representative of the carrier told journalists on Monday. At the opening […]
» Read more
Subject: Confusion about the Presidential Economic Council and the Stolypin Club Date: Thu, 26 May 2016 From: Rachel Douglas <cmgusa@frontiernet.net> Glad to see some attention to the Russian Presidential Economic Council meeting of May 25, but, setting aside the evaluations, there were quite a few errors of fact in two of the items included in JRL 2016-#95/May 26. Stratfor – […]
» Read more
Russian economists have proposed three programs to help the country get out of the crisis. They were presented to President Vladimir Putin at the session of the Economy Council on May 25. RBTH tries to understand the essence of each plan and how such proposals were realized in the past. (Russia Beyond the Headlines – rbth.ru – ALEXEI LOSSAN, RBTH […]
» Read more
MOSCOW. May 27 (Interfax) – The Russian Foreign Ministry is still committed to the 1987 Treaty Between the United States of America and the Soviet Union on the Elimination of Their Intermediate-Range and Shorter-Range Missiles (INF Treaty), Russian Deputy Foreign Minister Sergei Ryabkov said. “The Russian Federation is committed to this treaty and abides by all of its provisions,” Ryabkov […]
» Read more
(Kremlin.ru – May 25, 2016) Vladimir Putin met at the Kremlin with French business community representatives. President of Russia Vladimir Putin: Colleagues, friends, Let me welcome you all to Moscow. It is a great pleasure to meet the members of the Economic Council of the Franco-Russian Chamber of Commerce and Industry. France is without a doubt one of our longstanding […]
» Read more
(Moscow Times – themoscowtimes.com – Peter Hobson – May 26, 2016) [Chart here themoscowtimes.com/business/article/was-russias-first-bond-sale-in-3-years-a-success/570254.html] Bidding opened suddenly on the morning of May 23. After a three-year absence from international markets, and with very little warning, Russia announced it wished to borrow billions of dollars. The Finance Ministry sought to help finance a yawning budget deficit caused by the low price […]
» Read more
(Kremlin.ru – May 25, 2016) Vladimir Putin held a meeting of the Economic Council Presidium to examine growth sources for the Russian economy through to 2025. President of Russia Vladimir Putin: Good afternoon, colleagues, The Economic Council Presidium is at work once again, this time with the task of discussing and outlining key guidelines and objectives for our economic policy […]
» Read more
(Bloomberg – bloomberg.com – Andrey Biryukov, Lyubov Pronina – May 25, 2016) Russia hailed its sale of $1.75 billion of Eurobonds as a triumph in the face of sanctions and “unprecedented pressure” from U.S. and European Union governments. While Finance Minister Anton Siluanov said the deal showed foreigners have “trust” in Russia, investors expressed concern the bond won’t be admitted […]
» Read more
The results of a new survey shows consumers in Russia are at their gloomiest for 11 years as disposable income dries up, with many unable to afford a vacation. (Russia Beyond the Headlines – rbth.ru – ANNA KUCHMA, RBTH – May 4, 2016) Russian consumers are more negative about their economic prospects than they have been for the last 11 […]
» Read more
With Russia’s economy sagging, support for the government falling, and even … Putin’s sky-high approval ratings beginning to come down to earth, there has been no shortage of speculation about Russia’s political stability. Some argue that a collapse of the Putin regime is imminent … others are more cautious. * * * Russia is oil-rich, but less so than many […]
» Read more
(Bloomberg – bloomberg.com – Leonid Bershidsky – May 20, 2016) [Chart here bloomberg.com/view/articles/2016-05-20/petr-aven-warns-about-the-dangers-of-oil-dependency] Oil prices follow cycles, and so does the thinking about the future of oil-producing countries. This week, Russian billionaire Petr Aven and two Moscow economists published an article dissecting what they call the “twilight of the petrostate” which echoes the concerns of the Saudi Arabian elite — […]
» Read more
Russia’s GDP is still estimated to fall anywhere between 0.2 percent and 1.5 percent in 2016, depending on estimates, but … recent economic activity … showed that the slump continued to ease and fourth-quarter GDP might be positive. Retail sales, a barometer of domestic consumer demand, were down 4.8 percent, but the fall was less than the 5.8 percent seen […]
» Read more
(Interfax – May 22, 2016) Foreign investors believe in the prospects of Russian economy and are setting up their productions here, Russian First Deputy Prime Minister Igor Shuvalov said in the Sunday Evening with Vladimir Solovyev show on Rossiya 1 (VGTRK) television on May 22. “If you take a look at how many new plants are opening now [in the […]
» Read more
(Moscow Times – themoscowtimes.com – May 23, 2016) Russia’s latest economic reform package is set to cut state spending and raise the retirement age, the Vedomosti newspaper reported Monday. The reforms, which are due to be discussed Wednesday May 25 by President Vladimir Putin’s economic council, will focus heavily on stimulating domestic investment. It is the first time the council […]
» Read more
(opendemocracy.net – Anastasiya Ovsyannikova – May 20, 2016) Anastasiya Ovsyannikova is an economist and journalist. She has worked for F5 and Cityboom.ru, as well as Moscow’s Sakharov Center. oDR recently published an article by Ilya Matveev, “Russia, Inc”, which positioned neoliberalism as an organic part of the Putin regime. The intense discussion that followed brings us back to two central […]
» Read more
(Moscow Times – themoscowtimes.com – May 20, 2016) The Russian economy has been out of recession for more than six months, Economic Development Minister Alexei Ulyukayev said during a briefing at the Russia-ASEAN summit on Friday, the TASS news agency reported. Russia’s GDP may perform better than the official forecast, which predicted a decline of 0.2 percent, Ulyukayev said, attributing […]
» Read more
In 2016 the government intends to sell a part of the shares in its large raw commodity companies. The buyers can be foreign investors, but on certain conditions. It has already been announced that shares in Russia’s largest diamond mining company, Alrosa, will be sold through the Moscow Stock Exchange. (Russia Beyond the Headlines – rbth.ru – ANNA KUCHMA, RBTH […]
» Read more
(Bloomberg – bloomberg.com – Olga Tanas – May 18, 2016) Call it a stealth overhaul. With none of the fanfare that greeted Saudi Arabia’s plan for the post-oil era, the Russian economy is quietly getting its biggest makeover under President Vladimir Putin. A trail left by crude’s collapse has turned up some unlikely survivors and even industries that found a […]
» Read more
(Moscow Times – themoscowtimes.com – May 18, 2016) More than 16,000 Russians in single-industry towns are expected to lose their jobs in 2016, the RBK news website reported Wednesday. Russia’s monotowns – cities where one industry or company provides the vast majority of local employment – have been badly hit by the financial crisis. Overall production in single-industry towns fell […]
» Read more
(RFE/RL – rferl.org – May 17, 2016) Russia’s economy contracted by less than expected in the first quarter of 2016 in a sign it may be stabilizing. The Russian state statistics service said on May 16 that the economy declined by 1.2 percent from a year earlier, after falling by 3.8 percent in the final quarter of 2015. Russia’s economy […]
» Read more
(Paul Goble – Window on Eurasia – Staunton, May 14, 2016) Dmitry Prokofyev, a St. Petersburg economist, says that barring an unexpected shock, Russia faces declines of its GDP of 1.0 – 1.5 percent a year for the foreseeable future, a trend that will exacerbate differences between life in the megalopolises which may improve somewhat and life elsewhere which will […]
» Read more
MOSCOW. May 16 (Interfax) – Lowering the key interest rate in current conditions would not result in growth for the real economy, Dmitry Tulin, first deputy governor of the Central Bank, said in the State Duma, during a discussion of the Central Bank’s annual report. “We take into consideration the factor of the impact of monetary policy on the state […]
» Read more
