photo 2025 02 14 20 45 26
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 »

vj6c5w2bczm7ncvrznkz7az6ne.jpg
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 »

Russia’s Food Price Inflation Soars to Staggering 48.8% in Six Months
Crisis in Russia, Economy & Business

Russia’s Food Price Inflation Soars to Staggering 48.8% in Six Months

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 »

Russia’s largest construction project goes dark
Crisis in Russia, Economy & Business

Russia’s largest construction project goes dark

 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.

Russia’s largest construction project goes dark Read Post »

Russian Banks raise mortgage rates to 100% amid market Turmoil
Crisis in Russia, Economy & Business

Russian Banks raise mortgage rates to 100% amid market Turmoil

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 »

Russian Banks raise mortgage rates to 100% amid market Turmoil
Crisis in Russia, Economy & Business

Russia’s Economic Death Spiral continues as more Rate Hikes look to Trigger Bankruptcy Tsunami

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.

Russia’s Economic Death Spiral continues as more Rate Hikes look to Trigger Bankruptcy Tsunami Read Post »

Scroll to Top