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
Trump sanctions Russian oil: 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 possible impact of Donald Trump’s sanctions on Russian oil majors, Rosneft and Lukoil. We also cover the central bank’s
Sanctions split PRO Members Public
Europe and the US are still moving in different directions over sanctions. This week Britain greatly expanded its sanctions list to include major Russian oil companies. But the practical effect may be limited unless other countries join in. Meanwhile, after speaking with Putin over the phone, President Donald Trump said
Interest rates set to stay higher for longer 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. Our focus this week is on how the Central Bank will have to keep higher interest rates in place for longer, raising the prospects of stagflation.
Europe without Russian gas PRO Members Public
The EU has taken another technical step towards completely phasing out Russian oil and gas by 2028, with EU ambassadors formally submitting the proposal to member states for consideration, Reuters reported. The details should be resolved at a ministerial meeting before the Oct. 20 vote. * The big news is that
Tax crackdown on Russia’s small businesses 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 the government’s tax crackdown on small businesses, its possible effects and what could be motivating it. We also look at 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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