Russia Archives - Page 3 of 12

Russia and North Korea Discuss Strengthening Economic Ties

So, you are the leader of one of the world’s most powerful nations but, over the last few years, have lost considerable support in the international community thanks to policies that appear to harken back to a mentality thought long-dead after the fall of Soviet Russia and the end of the cold war. What do you do to bolster your faltering economy and build a little political solidarity? Negotiate economic ties with the leader of one of the most reviled and unpredictable rogue nations on the planet, of course!

Russia Continues to Weather Economic Storm

Russian President Vladimir Putin remains cautiously hopeful about the economy as his country adapts to Western sanctions over the Ukraine crisis. Finance Minister Anton Siluanov believes the worst part of the economic turmoil is over amid low oil prices, shrinking wages and outside pressure.

Billions of Rubles Secretly Leaving Russian Economy

Every year, billions of rubles leave the Russian economy, often through the UK. This massive outpouring is having a devastating impact on the value of the ruble and left many to wonder how so much currency is able to exit the country in such a fashion.

Estimates put the amounts flowing out of Russia and into the UK at approximately $1.5 billion every month. That equates to roughly $140 billion a year, and this appears to have been happening since at least 2006.

Russia: Capital Flight Surges

Amid a spreading climate of fear in Russia, underscored by the late February assassination of Boris Nemtsov, Russians with something to lose are increasingly trying to find safe havens abroad for their assets.

Kyrgyzstan’s National Bank Governor Analyzes Effects of Russian Downturn

The fallout from Russia’s economic downturn is forcing Kyrgyzstan to spend its limited reserves to fend off speculators and ease pressure on its currency, National Bank Governor Tolkunbek Abdygulov tells EurasiaNet.org. Abdygulov is using the crisis to try to strengthen rules for the Central Asian country’s under-regulated financial sector.

Russian Economy Presses on Despite Sanctions

Russia’s foreign debts are declining as the government relies on currency reserves to pay down state company debts to foreign creditors. Economic sanctions appear to have no major impact on the Russian economy, only affecting six percent of the business sector.

Russian Car Market Plummets as the Economy Braces for a Recession

The Ukrainian crisis continues to cause headaches for Russia’s economy, including the Russian automotive sector. With the U.S. and Europe enforcing severe sanctions over exports to Russia, car sales plummeted to a record low.

What’s Bad for Russia is Bad for Former Soviet Satellites

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 downturn is having a ripple effect well beyond its borders. A group of 15 countries that once formed the Soviet Union, with a collective population of nearly 300m, are all suffering due to the slowdown in Russia.

Russia’s Economic Woes Run Deep

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 against the dollar and the euro, and both the dollar and rouble-based sections of the Russian stock exchange saw sharp gains.

Unfortunately for those in the Kremlin, however, Russia’s economic woes are so deep-rooted that peace in Ukraine is likely to offer only temporary respite at best.

Russia: Economic Crisis Signals the Beginning of End for Putinism

The combination of Western sanctions and the collapse of oil prices is exposing deep structural problems in Russia’s economy, and it is showing the petro-state model of governance developed by Vladimir Putin is unsustainable. Yet just because Putin’s system can’t last doesn’t mean its demise is imminent.