Russia is already cutting its 2026 budget 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. Barely two months into 2026, the Russian government has already been forced to start talking about spending cuts, as reality starts to bite for its overly
Russia’s economy after four years of war 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. Ahead of the anniversary of Russia’s invasion on February 24, we analyze the irreversible changes the Russian economy has gone through in the four years
How collapsible is Putin's Russia? (The Bell in Moscow's Shadows) PRO Members Public
Four years into the war with Ukraine, what have we learned about the Russian political, bureaucratic and economic system? Is Putin’s Russia running out of money, patience or flexibility? Is it ready for the challenges ahead? Alex Kolyandr discusses it with a renowned Russian scholar, Professor Mark Galeotti, whose
EU tries to sink the shadow fleet 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 why the EU’s latest package of sanctions on Russia, targeting oil exports and the shadow fleet, could be one of its
Top construction firm asks state for help PRO Members Public
Russia’s construction sector has become the first victim of ongoing high interest rates. Samolet, the country’s biggest construction firm, has appealed to the government for cheap credit to help it out of its tough financial situation. * Samolet, the largest developer in terms of square footage under development (4.
To cut or not? Central bank faces tough choice 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 get behind the dilemma facing Russia’s central bank — whether to carry on cutting rates even as inflation creeps higher. Can the central
All eyes on inflation again PRO Members Public
Prices have already risen by almost 2% since the start of the year. Although data shows the pace of inflation on a weekly basis has slowed from the very high rate of 1.2% to 0.19% (Jan. 20-26), the economic authorities are still on high alert. * Prices are rising
Waging war with the poor 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 reveal our research into how regional poverty levels correlate with death rates in the Russian army, and explore what the slowing economy could
Starting the year in the red PRO Members Public
Russia kicks off the year with a significant budget deficit, Deputy Finance Minister Vladimir Kolychev has warned. Weak oil-and-gas revenues as well as start-of-year advance payments are putting pressure on Moscow’s coffers from the off. But this year’s problems seem more intense than usual. * Oil remains cheap and
Six lessons for Russia from the Iran protests 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 explain what the Kremlin learned from the Iranian protests and how Moscow could strive to avoid a similar uprising. We also review the
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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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