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Russian Manufacturing PMI Falls to Lowest Level Since April 2022

The data point to mounting pressures on Russia’s industrial economy.

South Korean Companies Move to Restart Operations in Russia – Korea Times

But major firms emphasize that their actions remain preliminary and depend on future developments with the war in Ukraine and sanctions.

Sanctioned Russian Billionaire Arrested on Fraud Charges – State Media

The arrest of Rusagro founder Vadim Moshkovich marks the highest-profile fraud case against a business leader since the invasion of Ukraine.

Putin Cancels Nationalization of Italy’s Ariston’s Russian Unit

Ariston said in a statement that a decree signed by Putin "restored ownership and full management" of the Russian subsidiary to Ariston's parent company...

Gazprom Plans Major Corporate Overhaul Amid Financial Crisis – FT

Deputy CEO Yelena Ilyukhina is reportedly spearheading a downsizing plan that includes shuttering departments and merging divisions.

Russia and U.S. Discussing Restarting Nord Stream Gas Deliveries to Europe – Lavrov

"Now, of course, there are disagreements. But is it only in the interests of Russia and the United States to restore normal energy supply to Europe?" Lavrov...

Lukoil Profits Drop Nearly 30% in 2024 Amid Asset Losses, Higher Taxes

Analysts said that one-off expenses, such as year-end asset write-offs and tax reassessment, were the main factors behind Lukoil’s profit decline.

Russia Sues Shell for $1.6Bln Over Unpaid 2022 Gazprom Supplies

The lawsuit, filed in a Moscow court, seeks to declare Shell’s exit from the Sakhalin-2 oil and gas project in Russia’s Far East illegal.

Russian Firms Lure South Asian Migrants Amid Historic Labor Shortage

With businesses struggling to find enough workers, Russian companies are turning to South Asian countries for workers. But it's not a foolproof solution...

Russia’s VK to Launch Copycat of China’s WeChat – Vedomosti

Dubbed “Max,” the beta version will reportedly feature a standalone messenger, a payment system, mini-apps and a chatbot constructor for business owners...

Russian Central Bank Holds Key Rate Steady Amid Soaring Inflation

Annual inflation exceeded 10% last month for the first time in two years, with price increases expected to average between 7% and 8% this year.

Putin Warns Business Leaders of ‘Slow and Difficult’ Ukraine Ceasefire Talks – Report

One source described Putin’s demeanor as “positive but objective,” lacking “unbridled optimism” about a quick ceasefire in Ukraine.

opinion Jason Corcoran

Hedge Funds, Beware – Russia Is a Bad Investment

Western hedge funds should not expect fair treatment if they return to doing business in Russia after the war.

VK Reports Triple Net Loss Despite Record Revenue in 2024

Following the reported losses, VK shares tumbled more than 6% on the Moscow Stock Exchange.

Russia Needs to Replace Hundreds of Foreign-Made Planes By 2030, Rostec Chief Warns

Chemezov’s remarks suggest that nearly 30% of Russia’s Western-built passenger planes could be grounded within the next five years.

Moscow Airport’s Billionaire Co-Owner Sells Lavish NYC Penthouse at Half of Asking Price

The property was put on the market as part of Kogan’s wider effort to sell off his real estate that started after Russia’s invasion of Ukraine in 2022...

Moscow Court Toughens Sentence Against French Banker Philippe Delpal

Delpal was sentenced in 2021 to four and a half years of probation for allegedly embezzling funds from Vostochny Bank.

Can Crypto Help Russia Beat Western Sanctions?

Russia has increasingly turned to cryptocurrencies to address challenges with ruble transactions. But it's not exactly a silver bullet.

Russian Discount Retailer Fix Price Expanding to Serbia

The move marks a rare case of a Russian company expanding into the European market since the full-scale invasion of Ukraine.

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