Crisis in Russia

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Crisis in Russia

Russian oil industry continues to spiral, new drilling down -12.3%

Newly commissioned oil wells in russia again drops, another -12.3%.  More pain for Russia’s beleaguered oil industry today as new drilling statistics paint yet another bleak picture, with new drilling facing another big drop. The drop ion newly commissioned wells again accelerated. now down 12.3% year-on-year from January-November 2024, according to a report by Kommersant […]

Crisis in Russia, Economy & Business

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

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. Normally towing the party line, even the Putin regime’s Pro-Kremlin economists are now warning that the move could unleash a tidal wave of corporate bankruptcies, threatening the survival of entire sectors of the Russian economy.

Crisis in Russia, Economy & Business

Russia’s Farm equipment sales now in freefall

Amidst record crop failures and with all resources now going to Putin’s global war projects, things are only getting worse for the collapsing Russian agricultural sector, with domestic sales of new equipment dropping by 16.5% year-on-year to 167.5 billion rubles in the first ten months of 2024, according to the Russian Association of Specialized Machinery and Equipment Manufacturers (Rosspetsmash). Production and exports have also declined by 12.6% and 9.6%, respectively, amounting to 205.8 billion rubles in production and 14.1 billion rubles in exports.

Crisis in Russia, Economy & Business

Russia Faces Unprecedented Winter Crop Losses

Farmers say theyve never seen in so bad as Russia is confronting an unparalleled agricultural crisis with severe drought conditions threatening to decimate winter crop yields, particularly wheat, across key farming regions. This development poses significant challenges to the nation’s food security and its position in global grain markets as the Russian economy already faces collapse in a number of sectors.

Crisis in Russia, Economy & Business, World News

Total Collapse in Russia’s Coal Industry

Russia’s coal-mining regions are grappling with a sharp decline in budget revenues as coal companies face financial difficulties caused by the loss of export markets and reduced production. Finance Minister Anton Siluanov reported that profit tax revenues in the Kemerovo region, which accounts for 60% of Russia’s coal production and 80% of coking coal, have dropped by 59%. Similar declines have been observed in Buryatia and the Jewish Autonomous Region.

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