Fuel crisis intensifies PRO Members Public
The gasoline crisis triggered by Ukrainian strikes on Russian oil infrastructure has spread to nearly every region of Russia. The authorities are looking for solutions, from relaxing fuel specifications to ramping up imports. However, neither has improved a problem that is spilling over from the consumer sector to the wider
Prices aren’t rising. They’re ‘changing’ PRO Members Public
Hello! Welcome to your weekly guide to the Russian economy, written by Alexandra Prokopenko and Alexander Kolyandr and brought to you by The Bell. This week we look at a new wave of Russian economic newspeak — euphemisms deployed to cover up the reality of a slowing economy. Russia’s economic
State nationalizes army’s bearings supplier PRO Members Public
Russia’s authorities continue to nationalize enterprises whose owners have served as lawmakers in the State Duma on corruption allegations. The latest victim is Russia’s biggest bearings manufacturer, the European Bearings Corporation (EBC). * Moscow’s Lefortovo court on June 15 ordered the seizure of the assets of the European
Russia’s oil boom ends PRO Members Public
Hello! Welcome to your weekly guide to the Russian economy, written by Alexander Kolyandr and Alexandra Prokopenko and brought to you by The Bell. Russia’s short-term boom from higher oil prices is over, so this week we look at how hard the return to reality will hit. Back to
Bank of Russia slows rate cuts, sends signal to government PRO Members Public
The Central Bank reduced its base rate on Friday by 25 basis points to 14.25%. It was the ninth successive cut, but the smallest possible reduction. Amid public pressure from Putin, who last week used inflation figures to publicly push to cut rates faster, this looks like a compromise.
Russia raids pension pots to plug investment hole PRO Members Public
Hello! Welcome to your weekly guide to the Russian economy, written by Alexandra Prokopenko and Alexander Kolyandr and brought to you by The Bell. This week we dig into the details of a controversial new scheme designed to tap pension pots for investment funds. State targets future retirees to address
Putin vs. Central Bank PRO Members Public
Next Friday’s interest rate decision and press conference by central bank chief Elvira Nabiullina are set to be watched even more closely than usual, after the bank entered into a rare public disagreement with President Vladimir Putin. In an unusual move, Putin argued in favor of lowering interest rates
Russia to borrow more for spiralling war costs PRO Members Public
Hello! Welcome to your weekly guide to the Russian economy, written by Alexander Kolyandr and Alexandra Prokopenko and brought to you by The Bell. This week we discuss how the government is getting ready for a massive borrowing binge to meet the rising costs of the invasion of Ukraine. Government
SPIEF 2026: The economic forum that avoided the subject PRO Members Public
Delegates arrived at the St. Petersburg International Economic Forum under columns of smoke rising over the Gulf of Finland. Seventeen kilometers from the venue, the St. Petersburg Oil Terminal had been hit by Ukrainian drones. This year’s official guest country was Saudi Arabia, in keeping with Russia's
Russian corporate debt load hits Covid levels PRO Members Public
Hello! Welcome to your weekly guide to the Russian economy, written by Alexander Kolyandr and Alexandra Prokopenko and brought to you by The Bell. This week we analyze new data on the growing debt pile at Russia’s largest companies — and why the Central Bank may be too optimistic on
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The Bell was founded in 2017 by journalists Elizaveta Osetinskaya, Irina Malkova and Peter Mironenko as a news outlet independent from the Russian authorities, after its founders have been sacked as top editors at the largest Russian news website RBC because of pressure from the Kremlin.
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