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Crisis in Russia, Economy & Business

Russia’s largest coal mines continue closing, unable to pay workers

Russia’s main coal producing region faces certain collapse as sanctions, mismanagement and theft lay waste to one cornerstone of the Russia economy. We’ve mentioned it in previous articles HERE, HERE and HERE and it’s only getting worse. Russia’s coal industry— a cornerstone of its energy sector, is now collapsing at break-neck speed.

Russia’s largest coal mines continue closing, unable to pay workers Read Post »

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Crisis in Russia, Economy & Business

Former Russian Finance Minister Warns of Imminent Depletion of National Wealth Fund

Already on a negative trajectory since 2020, Russia’s National Wealth Fund, now holding only 1.9% of GDP, could be gone in six months if war expenditures don’t come to an end, according to former Russian Finance Minister Mikhail Zadornov. Russia’s National Wealth Fund (NWF), established as a financial safeguard for rainy days, is now facing imminent depletion amid ongoing economic challenges.

Former Russian Finance Minister Warns of Imminent Depletion of National Wealth Fund Read Post »

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Crisis in Russia, Economy & Business

60% of Russia’s car dealerships facing imminent bankruptcy

A combination of a rapidly slowing economy and excessively high interest rates has effectively killed the Russian auto industry, with industry leaders calling for government bailouts. Around 60% of Russia’s car dealers now face bankruptcy if government fails to step in with large scale bailouts of the industry, according to the head of the Russian Automobile Dealers Association (ROAD) Alexei Podshchekoldin. “Some will last another two or three months, someone will last up to six months.

60% of Russia’s car dealerships facing imminent bankruptcy Read Post »

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Crisis in Russia

Ukraine destroys 5% of Russia’s total refinery capacity in only two nights of strikes

The third largest refinery in Russia is offline after only two nights of Ukrainian drone strikes, an amount representing 5% of the country’s overaall capacity. Russian air defenses are now seemingly unable to cope with the increasing scale of Ukraine’s nightly drone barrages, as only two nights of strikes were sufficient to destroy 5% of the country’s entire refining capacity. Russia’s Ryazan oil refinery has ceased operations following two Ukrainian drone attacks this week.

Ukraine destroys 5% of Russia’s total refinery capacity in only two nights of strikes Read Post »

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Crisis in Russia

Russians can no longer defend against the scale of Ukraine’s drone attacks

Popular Russian Telegram channels complain that Ukrainian drones are destroying assets that are vital for the russian economy, “Now, the rising frequency and scale of these strikes are impossible to overlook. The consequences are evident every night.” Ukraine’s ability to strike Russian territory has now surpassed Russian air defenses’ ability to defend it, according to Russia’s military bloggers.

Russians can no longer defend against the scale of Ukraine’s drone attacks Read Post »

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