A strange rise in productivity PRO Members Public
Amid a general slowdown in industrial output, especially manufacturing (which we discussed last week), Russia’s federal statistics agency Rosstat unexpectedly reported a sharp rise in production and manufacturing, including military-related industries, in October. A slight increase in corporate lending does not seem to explain the surge. * According to Rosstat,
Russia’s Banks vs. Oligarch-Backed E-Commerce Giants PRO Members Public
Hello! This week we get under the hood of Russia’s biggest business clash of the moment as the country’s financial giants try to take on the booming online marketplaces. Finance fights back against online retailers A clash of the lobbying titans is underway in Russian big business. The
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
Trump’s Ukraine plan: Peace on the horizon? PRO Members Public
Hello! This week we, like everybody else, have our attention fixed on just one question: Could Donald Trump’s controversial peace plan lead to an end of the war? Does Trump’s Russia-friendly peace plan stand a chance? Once again, Donald Trump has done a 180-degree turn on Ukraine, proposing
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
Russia wages war with borrowed cash PRO Members Public
Hello! This week we dive into how Russia finances its war on Ukraine, and why it could be storing up problems for the future. How much is Russia borrowing for its war, and what will the consequences be? Russia’s invasion of Ukraine has forced Moscow to abandon its conservative
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
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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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