Putin’s spox Dmitry Peskov Russian dictator’s spox Dmitry Peskov has rejected the FT claim that his employer has agreed to cease hostilities and proposed this solution to U.S. President’s special envoy Steve Witkoff during a meeting in St. Petersburg. “There are a lot of fakes being published right now,” Dmitry Peskov said in an interview with RIA Novosti. He noted that even respected publications sometimes publish fakes.
The perfect storm has begun in the global oil industry – enough to strop Putin? Crude oil prices have dropped sharply, and the forces driving the decline suggest the market could have further to fall. Saudi Arabia’s recent decision to raise oil production, combined with rising global trade tensions, is pressuring both supply and demand in ways that risk deepening the downturn. Last week, Saudi Arabia led an unexpected push to increase OPEC+ output— timed just hours before the U.S.
More Bad News For Russia as Oil is doomed to go Much lower Read Post »
Russia’s auto industry has entered a full state of collapse with the country’s flagship KAMAZ truck company reporting 2024 earnings down a stunning -96%. March sales at the maker of Lada (AvtoVAS) down -33%, and overall Russia car market hitting -44% year-over-year. Russian Auto Industry in Freefall, as both AvtoVAS and KAMAZ Report Stunning Declines with KAMAZ 2024 profit down -96% and LADA March sales down -33% year-over-year and total auto market sales down -44%.
Russia’s Two biggest auto manufacturers enter state of collapse Read Post »
Ukraine’s early morning strikes on Russia’s Engels-2 airbaase caused blastwave damages even 2 kilometers from the pojnt of impact. In today’s early hours, Ukrainian forces launched a significant drone assault on Russia’s Engels-2 Airbase, a key hub for strategic bombers in Saratov Oblast. Home to the Tu-95 and Tu-160 aircraft— both crucial in Moscow’s missile campaigns against Ukraine— the base represents a critical pillar of Russia’s long-range strike capabilities.
Ukrainian forces Strike humiliating blow on Engels Airbase Read Post »
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 »
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 »
The price of coal on the world market continues downward, exacerbating the already catastrophic situation within the industry that comprises 7.4% of Russia’s total exports.
Russia’s Coal Industry Faces Record Losses as Governor Warns of “Survival Crisis” Read Post »
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 »
