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According to the Federal Statistics Service Rosstat economic sanctions against Russia are not holding the Russian economic recovery back.

23rd May 2018 – Russian Economic Recovery

Retail sales in Russia increased in April. Real wages increased and unemployment rate fell.

6th January 2018 – B&N Bank Gets State-Aid To Enhance Stability

Russia’s central bank is providing 57 billion rubles of financial support to B&N Bank to continue reduce the risk of collapse.   The central bank took over B&N Bank last year, but has assessed that the bank needs extra capital to meet its obligations and become more sustainable.

22nd February 2018 – Otkritie Bank Needs More Money

The Bank of Russia, Russia’s central bank, will need to put more money into Otkritie Bank on top of the $8 billion it has already put into the bank, according to Otkritie’s CEO.

16th February 2018 – Gazprom Wants Discounted Service From Russian Suppliers

Gazprom wants discounts from Russian pipeline suppliers for its major projects as one supplier breaks rank and offers significantly lower prices.

31st January 2018 – Modest Growth For Russia 2017

Russia’s GDP was 1.4 percent in 2017 according to TASS news agency.

15th January 2018 – Russian Economy Shrinks In November

Russia’s economy minister is reported as saying that the Russian economy shrank in November year-on-year.   He further confirmed that the Russian economy grew between 1.4-1.8 percent in 2017.

The Russian government is forecasting growth in 2018 of 2 percent with inflation to run at around 4 percent.   Interest rate in Russia is currently 7.75 percent.

11th January 2018 – Russia To Raise Minimum Wage

Russia will raise its minimum wage from 1st May according to Vladimir Putin.

 

26th June 2017 – 13 European Union EU Nations Want To Negotiate With Russia Despite Trade Sanctions Over Russia’s military action in the Ukraine

Russia’s Nord Stream 2 pipeline will quickly and easily transport gas from Russia to Germany.   The European Commission EC wants permission from EU country’s to negotiate on the pipeline.

The main losers would be the Ukraine.   The main winners would be Russia and Germany.   The main beneficiaries say that they want a balanced approach to energy supply and demand across the European continent, but the main beneficiaries would say that wouldn’t they!

 

20th May 2017 – Russia To Grow 1.4% 2017

The International Monetary Fund (IMF) has upgraded its economic growth forecast for Russia.   It thinks governmental measures and oil prices are sufficiently robust to improve growth from its earlier growth forecast of 1.1%.

However, Russia’s growth is unlikely to pick up speed and momentum until global oil prices pick up.

18th February 2017 – Ceasefire Between Ukraine and Russian-Backed Separatists 

A ceasefire between Ukraine and Russian-backed separatists has been agreed and will come into effect on 20th February, according to Russia’s Foreign Minister Sergei Lavrov.   After the ceasefire the combatants will withdraw military hardware.

6th February 2017 – Ruble Hits 19-Month High

Russian ruble has reached its highest level since July 2015.   The Central Bank of Russia doesn’t see any possibility of an interest rate cut from 10% due to high consumer price inflation.   However, inflationary pressures are reducing.   Global oil prices have risen off their lows which will be a small boost to Russian state income.   It is likely that there is more good news ahead for the Russian economy than bad over the next couple of years.

6th February 2017 – Russia-Backed Separatists and Kiev Government Forces Increased Aggression

In the last week more people have been killed in eastern Ukraine and many thousands are without heating, power or water.   A peace agreement was agreed in Minsk two years ago but a political impasse has prevented a solution to the problems in eastern Ukraine that has resulted in thousands of deaths.

After Russia annexed Crimea from Ukraine and a Russian missile shot down Malaysia Airlines plane, the European Union (EU) and USA imposed economic sanctions on Russia and its key state officials.   The EU and USA currently want Crimea returned to Ukraine control and Russia claim’s the Russian people in eastern Ukraine no longer want to be part of the new government in Kiev, Ukraine.


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