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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 »

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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 »

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Crisis in Russia

Ukraine destroys 5% of Russia’s total refinery capacity in only two nights of strikes

The third largest refinery in Russia is offline after only two nights of Ukrainian drone strikes, an amount representing 5% of the country’s overaall capacity. Russian air defenses are now seemingly unable to cope with the increasing scale of Ukraine’s nightly drone barrages, as only two nights of strikes were sufficient to destroy 5% of the country’s entire refining capacity. Russia’s Ryazan oil refinery has ceased operations following two Ukrainian drone attacks this week.

Ukraine destroys 5% of Russia’s total refinery capacity in only two nights of strikes Read Post »

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Crisis in Russia

Russians can no longer defend against the scale of Ukraine’s drone attacks

Popular Russian Telegram channels complain that Ukrainian drones are destroying assets that are vital for the russian economy, “Now, the rising frequency and scale of these strikes are impossible to overlook. The consequences are evident every night.” Ukraine’s ability to strike Russian territory has now surpassed Russian air defenses’ ability to defend it, according to Russia’s military bloggers.

Russians can no longer defend against the scale of Ukraine’s drone attacks Read Post »

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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 on Thursday.

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

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Crisis in Russia, World News

Another disaster for Putin as Russia’s colony of Transnistia has only two weeks of gas remaining

Transnistria has less than two weeks of gas before Moscow needs to make big decisions. Let the colony go or pay hundreds of millions to keep it within Putin’s grip. Another domino seems ready to fall in the slow motion collapse of Putin’s empire.. Since 1993, Russia has been militarily occupying a long stretch of Moldovan land, maintaining what is essentially a large military base with an incidental local population of around 500,000, right on the border of Ukraine.

Another disaster for Putin as Russia’s colony of Transnistia has only two weeks of gas remaining Read Post »

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