Salary arrears up by a third PRO Members Public
Russia has a fast-increasing problem with late salary payments — up a third in April. The government is concerned, telling loyal media outlets not to report official government statistics. From an economic standpoint, the amount of unpaid wages is not enough to pose a real threat. * Wage arrears reached 2.88
How to fund a two trillion-ruble shortfall 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 plans to fund the spiralling costs of war — and why it spells more pain for the civilian economy. Russia
Britain softens sanctions PRO Members Public
Britain’s government on Tuesday announced measures to officially levy new sanctions on Russia — but in effect they essentially weakened restrictions on Russian oil so far as to render them pointless. * Britain’s new sanctions law bans the import of petroleum products processed using Russian oil at refineries in third
Russia’s 2027 succession problem 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 the challenge of appointing an heir to Elvira Nabiullina, about to enter her final year at the helm of the Central
Oil production down PRO Members Public
Russia’s oil production fell in April, according to figures from OPEC and the International Energy Agency. * According to the IEA production in April was down 140,000 barrels a day compared with March, falling to 8.83 million barrels a day. OPEC reported a 107,000-barrel fall to 9.
Russia’s official economic forecast: degradation 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. Russia’s economic authorities this week have finally started saying what has been obvious for many months — the economy is facing its toughest time since the
Russian oil windfall limited PRO Members Public
The war in Iran has begun to generate significant budget revenue for Russia — but the energy tax take will still be lower than it was in 2022. * This week the finance ministry published figures on Russia’s oil and gas revenues for April, including income from the mineral extraction tax
The price of Ukraine’s retaliatory drone strikes 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 a Victory Day parade that has been slimmed down under the threat of Ukrainian drones, we look at the economic costs of Kyiv’s
Russia’s economy contracts for first time since 2023 PRO Members Public
As experts have been predicting for months, Russia’s economy has entered a contraction. On Wednesday, the Economic Development Ministry published the first official GDP figures for the first quarter of 2026, showing that the economy shrank by 0.3% year-on-year. It was the first quarterly fall since early 2023.
Russia’s oligarchs: more money, more problems 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 how Russia’s billionaires got richer during the war, but why they find themselves more vulnerable to the whims of the state
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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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