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.

 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.

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.