Russia
Russia's central bank cuts rates by 50bp to 16.5%
The Central Bank of Russia (CBR) cut rates by 50bp on October 24 to 16.5% in an effort to boost flagging growth despite fears of a revival of inflationary pressure due to an upcoming two percentage point hike in the planned VAT rates.
COMMENT: Sanctions on Rosneft and Lukoil are symbolic and won’t stop its oil exports
The Trump administration’s sanctions on Russian oil giants Rosneft and Lukoil, announced on October 22, may appear decisive at first glance, but they are not going to make a material difference to Russia’s export of oil, says Sergey Vakulenko.
KSE: Ukraine is facing a $53bn budget shortfall, but economy is stable for now
Ukraine is in urgent need of additional financing from partners as the continuation of the war drives up defence spending and reconstruction needs, jeopardizes budget financing, weighs on the balance of payments, and slows economic growth.
MOSCOW BLOG: Lukoil to sell foreign assets due to US oil sanctions
Russian oil major Lukoil said it would sell its foreign assets in a press release yesterday after it was hit with US oil sanctions.
Russia tax service targets Russian accounts in UAE
The Russian Federal Tax Service (FTS) has ramped up its scrutiny of Russian nationals holding accounts in the United Arab Emirates, following the effective implementation of automatic tax information exchange between the two countries.
Russia blocking messaging apps again, sets up copycat Telegram app
Russia’s internet watchdog Roskomnadzor has been blamed for another round of internet outages in Russia, as the state sets up a Telegram messaging app clone as the Kremlin continues to take increasing control of RuNet.
Russia's Lukoil to sell international assets as a result of new US oil sanctions
Russia's second-largest oil producer, the privately owned Lukoil, will sell its international assets as a result of the new oil sanctions imposed by US President Donald Trump last week.
Ukraine accuses Russia of using energy blackmail against Serbia
Ukraine says Moscow is repeating tactics it previously deployed against Kyiv after Russia refuses to sell its stake in Serbia's NIS.
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US senator tells Maduro "head to Russia or China" as warships close in on Venezuela
A senior US Republican senator has warned that Venezuelan President Nicolás Maduro's time in power is running out and suggested he leave the country, as military tensions in the Caribbean continue to escalate.
Russian e-commerce giant Wildberries goes on a mysterious M&A spree
Russian e-commerce giant goes on M&A spree Almost a year after the controversial merger with a leading outdoor advertising firm, Russia’s leading e-commerce site Wildberries is indulging in a fresh bout of eyebrow raising deals.
MOSCOW BLOG: Dmitriev goes to Washington
That didn’t work well. Kirill Dmitriev, Russian President Vladimir Putin’s special envoy on Ukraine who has been leading business talks with the US, shot off to Washington within two days of US President Donald Trump imposing oil sanctions.
EU rare earth supply dominated by China and Russia - Eurostat
The European Union remains heavily dependent on China and Russia for rare earth imports, with nearly three-quarters of its supply sourced from the two countries in 2024, according to data published by Eurostat and reported by Statista.
Zelenskiy accuses China of aiding Russia’s war effort through industrial and military support
Ukrainian President Volodymyr Zelenskiy accused China of materially supporting Russia’s military-industrial complex, providing key technologies and resources that have enabled Moscow to sustain and scale its war effort against Ukraine.
US Treasury Secretary Bessent blasts “Russian propagandist” special envoy Dmitriev in Washington PR debacle
A trip to Washington by the Kremlin’s special business envoy Kirill Dmitriev days after the US imposed new oil sanctions turned into a debacle after US Treasury Secretary Scott Bessent blasted him as a “Russian propagandist.”
COMMENT: Europe’s “fake it till you make it” war approach cannot hold off Russia’s trillion dollar war machine
In their speeches on the war in Ukraine, European leaders appear like a video clip looped on repeat. Standing before the cameras they declare new packages of support for Kyiv and threaten new measures to pressure Russia as if it was still 2022.
US expands oil sanctions on Russia
US President Donald Trump imposed his first sanctions on Russia’s two largest oil companies on October 22, the state-owned Rosneft and the privately-owned Lukoil in the latest flip flop by the US president.
Russia test fires its Burevestnik nuclear-powered cruise missile
Russia’s Burevestnik nuclear-powered cruise missile has no analogues in the world, Russian President Vladimir Putin said, as the Kremlin escalates the unfolding missile arms race with Ukraine another notch.
Russia claims to surround Pokrovsk
Russia’s chief of the general staff Valery Gerasimov triumphantly reported to Putin that 31 Ukrainian battalions have been encircled in Pokrovsk and 18 battalions in Kupyansk, the hottest spot in the war.
Bulgaria tightens control over Lukoil sale after fresh US sanctions on Russia
Bulgaria’s parliament passed new legislation tightening state control over the sale of Russian oil major Lukoil’s assets in the country, after Washington imposed fresh sanctions on Russia’s top energy firms.
Russia will remain defiant against US sanctions pressure, Putin claims
The sanctions come at a time when Russia’s two largest energy buyers, China and India, have shown signs of reducing their oil imports from Russia.