Wartime debts drag Russian businesses down PRO Members Public
Hello! Welcome to your weekly guide to the Russian economy, written by Alexander Kolyandr and Alexandra Prokopenko and and brought to you by The Bell. This week we look at how the Kremlin may have the upper hand on the battlefield, but at home its top companies are struggling with
Russia starts selling gold reserves PRO Members Public
The Central Bank began its first sales of physical gold from its reserves as part of the finance ministry’s efforts to fund the budget deficit. With gold at record high levels, this is more lucrative than selling off Russia’s new reserve currency, the Chinese yuan. * Gold sales take
Russia’s economic slowdown bites harder 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 analyze how Russia’s economic slowdown is hitting harder, with worse still on the horizon, and look at Russia selling off its gold
New sanction worries PRO Members Public
Lukoil’s difficulty in disposing of its foreign assets has captured global headlines, but it is far from the only sign that sanctions are causing more and more problems in the Russian economy. The issues are evident in several other places as well. * Lukoil asked the US Treasury Department to
Is Russia facing a debt crisis? 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 detail growing concerns about the health of the financial sector, and look at how the cumulative impact of sanctions is weighing on many
Tax reforms eased for small business PRO Members Public
The government is easing the terms of one aspect of its tax crackdown announced earlier this fall — the legislation that would force small businesses to pay 22% VAT after their revenue passes 10 million rubles (about $125,000). * Prime Minister Mikhail Mishustin announced the easing of the reforms at a
Lukoil’s sanctions deal collapses: What does it mean? 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 the implications of Washington blocking a multi-billion-euro deal involving sanctioned Russian oil giant Lukoil, and a partial climbdown by the government over
Is Russia’s labor market cooling? PRO Members Public
Russia has recorded its first rise in unemployment since February, climbing from a record low of 2.1% to 2.2% in September. * Super-low unemployment, which Vladimir Putin loves to hail as an example of Russia’s economic success, is a sign of the on-going overheating in the labor market.
How Russia exploits Western banks to repress Kremlin critics 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 how Russia is abusing the West’s financial infrastructure and compliance checks to crack down on Kremlin opponents who have fled
Central Bank in no rush to cut rates PRO Members Public
As we predicted, the Central Bank is not eager to slash interest rates. On Friday, it reduced its base rate by just 50 basis points to 16.5%. This sent a clear signal that its monetary policy will continue to be very cautious, while leaving it some room for maneuver
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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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