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.
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.
Shares of Russian’s second largest seller of consumer electronics continue to lows not seen since the 2009 financial crisis Having seen it’s share value drop by -88% in only two years and with 1,200 stores and 30,000 employees nationwide, Russia’s second largest seller of consumer electronics has announced an abrupt change in business model after 31 years in operation.
Russia’s global military adventures continue to punish the economy back home to the brink, as Russian Railways, one of the largest employers in the country (685,000 employees) is set to reduce its 2025 investment program by approximately 40% compared to the current year, due to unservicable debt load, according to Tatyana Orlova, head of the company’s corporate finance department.
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).
