This morning at shortly after dawn, four days before Christmas, Russia targeted Kyiv with eight ballistic missiles. Ukraine’s Air Force reported intercepting all missiles; however, debris caused significant damage across four districts of the capital. The Holosiiv district suffered the most, with residential buildings, offices, and a hotel damaged. Fires erupted as debris fell onto streets and rooftops.
Mass layoffs have come to Russia’s Kuzbass region due to the closure of three mines. A little over three weeks ago, we flashed the warning light on the Russian coal industry, outlining that the drop in production combined with the inability to export and an increasingly catastrophic countrywide credit situation would lead to mass layoffs. And now it’s happening. The unraveling of Russia’s coal industry is accelerating, with three more major open-pit coal mines in the Kuzbass region —
It seems even Moscow is no longer safe for Putin’s war criminals. Less than a week after one of Russia’s lead missile designers is killed in Moscow, Senior General Igor Kirillov, head of Russia’s Nuclear, Biological, and Chemical Protection Troops, has also been assassinated, the highest level Russian official to yet be killed since the beginning of the war.
Another of Putin’s henchman assassinated in Moscow Read Post »
With Russia’s annualized food inflation now hitting 97%, fears of unrest are growing not only in Russia’s regions but in the large cities as well as government remains paralyzed to act in any real way with war commitments consuming all available budgetary funds. In yet another symptom of Russia’s deepening economic crisis, food price inflation has surged to an alarming 48.8% in just six months, according to latest government data.
Russia’s Food Price Inflation Soars to Staggering 48.8% in Six Months Read Post »
In another humiliating catastrophe for the Putin regime, the once-bustling Belokamenka oil & gas project, the largest construction site in Russia has gone dark, symbolizing the nation’s waning industrial might amid intensifying economic pressures, war, and international sanctions. At its peak, the sprawling Belokamenka construction site employed more than 15,000 workers, and was to serve as a centerpiece of Russia’s Arctic energy expansion.
Only 24 hours after Trump states intent to cut off Ukraine’s already incredibly limited ability to strike Russian territory, Putin gets the message that there will be no consequences, unleashing the largest missile attack of the war onto the people of Ukraine.
Putin launches largest missile attack of the war after Trump gives greenlight Read Post »
As awesome as most Russian neighborhoods are, very few are willing to take out mortages at 100% interest. In a striking development in Russia’s housing loan market, banks have reportedly begun offering mortgage products with rates as high as 100%, Deputy Minister of Finance Ivan Chebeskov told Izvestia. This unprecedented move comes as lenders struggle to manage soaring borrowing costs driven by a steep key interest rate increase.
Russian Banks raise mortgage rates to 100% amid market Turmoil Read Post »
Despite ten consecutive interest rate hikes, inflation continues to consume the Russian economy, with most sectors now sounding the alarm of looming layoffs and corporate defaults. In what appears to be a calculated but catastrophic gamble, Russia’s Central Bank this week plans to jack up its key interest rate from today’s already crushing 21% to a further punishing 25%, sparking fears of impending economic collapse.
