Russia’s Oil Giant Reports Devastating Losses as Economic Pressure Mounts
Economy & Business

Russia’s Oil Giant Reports Devastating Losses as Economic Pressure Mounts

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Gazprom Neft, one of the flagship entities of Russia’s oil industry, reported a staggering net loss of 21.3 billion rubles in the first quarter of 2025 under Russian Accounting Standards (RSBU), a dramatic reversal from the 36.9 billion ruble profit it posted during the same period in 2024. The figures, disclosed in the company’s latest financial report, signal a growing crisis in the Kremlin’s fossil fuel sector amid rising costs, waning revenues, and global isolation.

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Catastrophic losses continue to hit Russia’s Industrial sector, with profit down -107% at Novolipetsk
Crisis in Russia, Economy & Business

Catastrophic losses continue to hit Russia’s Industrial sector, with profit down -107% at Novolipetsk

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One of Russia’s largest steel producers, Novolipetsk Steel (NLMK), has reported a net loss of over 1.2 billion rubles in the first quarter of 2025— marking a dramatic downturn of more than -107% compared to the 17.2 billion ruble profit recorded during the same period last year. The reversal underscores the growing distress gripping Russia’s industrial economy amid sanctions, shrinking demand, and structural decline.

Catastrophic losses continue to hit Russia’s Industrial sector, with profit down -107% at Novolipetsk Read Post »

Amidst Russia’s Apocalyptic Demographic Implosion, Putin’s Government Classifies the Data
Crisis in Russia, Economy & Business

Amidst Russia’s Apocalyptic Demographic Implosion, Putin’s Government Classifies the Data

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As Russia’s population crisis deepens, the Kremlin’s new solution is simple: hide the numbers. This week, Rosstat— the official Russian statistical agency— released its latest demographic bulletin. Or rather, what used to be a demographic bulletin. In place of detailed data on births, deaths, marriages, and divorces by region, the March report offers only a single, vague summary table. The rest has been scrubbed.

Amidst Russia’s Apocalyptic Demographic Implosion, Putin’s Government Classifies the Data Read Post »

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Crisis in Russia, Economy & Business

Russian agricultural machinery giant announces production halt and mass layoffs

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Russia’s largest agricultural machinery manufacturer, Rostselmash, has announced a suspension of production and lay offs of approximately 2,000 employees due to deteriorating market conditions. The company had previously reduced operations to a three-day workweek in late 2024, returning to a limited five-day schedule in early 2025  .

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illustration shows word "sanctions" displayed on eu and russian flags
Economy & Business, World News

EU Imposes 17th Sanctions Package on Russia, Targets 189 Shadow Fleet Vessels

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The European Union adopted its 17th sanctions package against Russia on Wednesday, escalating pressure on the Kremlin by blacklisting 189 vessels linked to Moscow’s so-called shadow fleet and tightening controls on military-use technology. Announced by European Commission President Ursula von der Leyen, the new measures aim to curb Russia’s energy revenues and undermine its ability to sustain the war in Ukraine, now entering its third year.

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Crisis in Russia, Economy & Business

Russian agricultural Armageddon continues with tractor sales down another -33%

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The agricultural machinery market in Russia continues to decline sharply, with sales dropping another -33% in the first quarter — despite a clear need among farmers to update their aging fleets. Industry experts attribute the slump primarily to high interest rates, which are discouraging purchases.

Russian agricultural Armageddon continues with tractor sales down another -33% Read Post »

Gazprom Neft CEO
Istrebin's Economics

Gazprom CEO Sounds Alarm on Looming Russian Energy Crisis

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Gazprom Neft CEO Alexander Dyukov Gazprom Neft CEO Alexander Dyukov has confirmed what energy analysts have long suspected: Russia is running out of cheap oil. The country is being forced to tap into so-called “hard-to-recover” reserves— deep, complex, and geologically intractable deposits that require expensive extraction methods, advanced technology, and massive government support.

Gazprom CEO Sounds Alarm on Looming Russian Energy Crisis Read Post »

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Crisis in Russia, Economy & Business

Russia faces labor crisis due to mass military recruitment

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Russia is grappling with an unprecedented labor shortage, with a deficit of 2.6 million workers across key sectors such as manufacturing, trade, and transportation. This shortfall, reported by Izvestia and based on a study by the Higher School of Economics, underscores the mounting strain on the nation’s workforce amid ongoing military mobilization and demographic challenges.

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