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Russia, VTB Bank
Exclusive: Top Russian banker says sanctions-hit economy will slow in 2025
Russia's sanctions-hit, militarized economy is expected to slow next year and banks' profits will fall, while the benchmark interest rate may climb to 23% by the end of this year, Andrei Kostin, CEO of Russia's second-largest lender,
Russia’s Economy Is Slowing, Opening Fissures Over Policy
Last month, the central bank also lowered its forecast for Russia’s economic growth next year to 0.5 to 1.5 percent, compared with 3.5 to 4 percent this year. The slowdown comes even as the government continues to pump record amounts of money into the economy to finance the war.
Exclusive-Top Russian banker says easing of tensions with West uncertain under Trump
The next U.S. administration may make an effort to ease tensions with Moscow but Western sanctions are unlikely to be lifted any time soon, Andrei Kostin, the CEO of Russia's second-largest bank, VTB,
Exclusive-Russia's VTB does not expect Western sanctions to be lifted soon
Western sanctions imposed on Russia over its military action in Ukraine will not be lifted anytime soon, the CEO of Russia's second largest lender VTB Andrei Kostin told Reuters in an interview. "I don't really believe that the sanctions will be lifted quickly.
Putin signs off on record Russian defense spending
Russian economy still growing, largely due to defense spending, say U.K. analysts
Despite a raging war, both Russia and Ukraine have seen economic growth in 2024 — about 3.6% for Moscow and 3% for Kyiv — British officials said, though Russia’s increase was likely driven by government spending heavily tilted toward the defense sector.
Putin approves record defense spending — a third of Russia’s budget
Russian President Vladimir Putin has approved a record-breaking defense budget, setting aside a staggering third of the government’s total spending as the war in Ukraine drains resources from both sides nearly three years on.
Putin signs off record Russian defense spending
Russian President Vladimir Putin has approved budget plans, raising 2025 military spending to record levels as Moscow seeks to prevail in the war in Ukraine
2h
Russian economy in crisis as arms exports collapse by over 90% and mass bankruptcies loom
The country has "failed" as an arms exporter, with a leading Putin ally warning the defence sector faces mass bankruptcies ...
2h
on MSN
Russian companies are turning to teenagers and retirees amid the country's wartime labor shortage
Russia's economy is short 2 million workers, according to an estimate from one of the nation's largest auditing firms.
2d
on MSN
The Russian Economy's Biggest Problem Right Now
Putin has a long list of economic concerns. So we asked the experts: What is the Russian economy's greatest vulnerability?
3d
on MSN
Russia’s War Economy Shows New Cracks After the Ruble Plunges
President Vladimir Putin said there isn’t any reason for Russians to panic after the currency fell to its lowest level since ...
5h
Ukraine war: 10% of Chinese people are willing to boycott Russian goods over invasion – new study
Our research shows a surprising level of disapproval among the Chinese public of Russia’s invasion of Ukraine.
4d
on MSN
What Does Ruble's Sharp Fall Mean for Russia's Economy?
The Russian ruble has experienced a sharp fall in value against the U.S. dollar, weakened in recent days by the U.S. Treasury ...
7d
on MSN
Russia’s war economy is on its last legs, but peace may be even worse for Vladimir Putin, experts say
"Russia cannot continue waging the current war beyond late 2025, when it will begin running out of key weapons systems." ...
3d
How Russia's war with Ukraine is impacting the country's economy
When Russian President Vladimir Putin waged war on Ukraine, he also sparked an economic battle for his people.
2d
Russian Ruble Plunge Hurting Chinese Companies: Report
The Russian currency has hit a 32-month low against the U.S. dollar as the wartime economy faces another blow.
Opinion
1d
on MSN
Opinion
Trump mustn’t go wobbly on Russia: Sanctions are working — time to double down
Russian President Vladimir Putin is rushing to defeat Ukraine because the Kremlin stands on the brink of economic crisis.
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