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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,

The New York Times · 7h

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.

Yahoo · 11h

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,

Reuters on MSN · 11h

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

Washington Times · 6d

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.

CNN · 12h

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.

U.S. News & World Report · 1d

Putin Signs off Record Russian Defense Spending as Top EU Officials Visit Kyiv

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

1hon 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.

2don 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?

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 ...

3don 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 ...

4don 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 ...

11d

Russian economy meltdown as inflation soars with prices 'up 65%' and Ruble plummets

A Russian newspaper warned that rampant inflation is hurting the economic well-being of ordinary Russians as pressure grows ...

7don 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." ...

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.

The ruble is down, the price of potatoes is up. But is Russia's economy really in trouble?

The lead story on the front page of Tuesday's edition of Moskovskij Komsomolets, a major state-run newspaper in Moscow, is ...

1don MSNOpinion

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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Russia, VTB Bank

Putin signs off on record Russian defense spending

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