Rising oil dependency Paid Members Public
Hello! This week our top story is on what recently released financial data reveals about Russia’s rapidly growing dependency on oil, as well as a collapse in VAT revenue and how China is coming to Moscow’s rescue. We also look at the new owner of McDonald’s in
Data blackout Paid Members Public
Russia’s so-called “special military operation” in Ukraine has not just led to the international isolation of the Russian economy but to new levels of government secrecy. An unprecedented halt in the publication of official economic statistics since the start of the fighting means we now know much less about
Oil embargo pain Paid Members Public
Hello! The European Union last week was unable to sign off on an embargo on Russian oil, but the deal appears to be almost done: the only outstanding detail is how long Hungary, Slovakia and the Czech Republic will be allowed to delay implementation. An oil embargo is one of
Accelerating escalation Paid Members Public
Hello! It seems inevitable that the confrontation between Russia and the West over Ukraine will only get worse amid a Russian offensive and the tense situation in the south of Ukraine. The West is providing Kyiv with ever more sophisticated weaponry and Moscow’s rhetoric gets ever more threatening. Peace
Economic constraints Paid Members Public
Hello! In this week’s newsletter, we’ll review the economic impact of the first two months of fighting in Ukraine, and discuss two key questions: how long can the Kremlin continue to afford its ‘special military operation’ and can the Russian economy hold out? The Russian Ministry of Defense
Ruble paradoxes Paid Members Public
Hello! This week our newsletter will be a brief guide to the history of the Russian currency, which looks to have come full circle in recent weeks with the loss of free convertibility status as a result of Russia’s ‘special military operation’ in Ukraine and Western sanctions. Audit Chamber
Looming oil embargo Paid Members Public
Hello! Russia found itself ever more isolated last week as the world reacted to the shocking images from Bucha and other towns in northern Ukraine. The international community imposed new sanctions on Moscow, including a European embargo on coal imports. The next step Europe takes could be a game-changing ban
Bucha killings Paid Members Public
Hello! This week our main story is the peace talks between Russia and Ukraine in Istanbul that offered grounds for cautious optimism – even if a ceasefire still seems a distant prospect. We also look at President Vladimir Putin’s decision to oblige all buyers of Russian natural gas to pay
