Wartime economy squeezes small businesses PRO Members Public
Hello! This week we analyze a heap of data that shows it is Russia’s smallest businesses that are bearing the brunt of the economic crisis and the raft of internet restrictions. Between taxes and blackouts “2026 will not be an easy year for Russian business,” warned Alexander Shokhin, the
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.
Kremlin replaces people’s governor with war general PRO Members Public
Hello! This week we look at Vladimir Putin’s decision to fire the head of the frontline Belgorod region, who might have been a victim of his own popularity. Belgorod leader out: When popularity becomes a problem Rotating Russia’s regional governors has long been a routine process. But the
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
Oil at $100, economy in the red: how strong is Putin really? The Bell Webinar — May 26, 2026 PRO Members Public
The war in Iran has distracted the West from Ukraine and pushed oil above $100 a barrel — a major boost for the Kremlin. But Russia’s budget windfall is falling short of expectations, the economy has slipped into the red for the first time in three years, Russians are increasingly
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
Rusagro case a worrying omen for Russia’s richest PRO Members Public
Hello! This week we look at how Russia went about its most significant nationalization so far amid the war in Ukraine — and why the process could set off yet more alarm bells for some of the country’s richest men. Top agricultural firm seized in latest nationalization shock The Russian
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.
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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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