Collapsing Russian oil industry delivering windfall profits to Western oil majors
World News

Collapsing Russian oil industry delivering windfall profits to Western oil majors

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Ukraine’s precision strikes on Russia’s oil infrastructure — combined with tightening Western sanctions — are crippling the Kremlin’s energy sector and unexpectedly enriching Western oil companies. Since mid-2025, Ukrainian drones have hit nearly 160 oil extraction and refining facilities across Russia, including key refineries and export terminals.Each strike has deepened the supply crunch inside Russia and reduced its ability to export fuel.

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Much of Russia’s Oil Now Too Costly To Extract
Crisis in Russia, Economy & Business

Much of Russia’s Oil Now Too Costly To Extract

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For decades, Russia’s oil sector thrived on a simple advantage: cheap, abundant reserves that could be extracted at some of the lowest costs in the world. That era is over. New admissions from Moscow’s own energy officials confirm what analysts have long suspected: the majority of Russia’s oil is now either geologically difficult or economically unprofitable to extract.

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Russia’s Budget Deficit Again Surges as Spending Outpaces Revenues
Crisis in Russia

Russia’s Budget Deficit Again Surges as Spending Outpaces Revenues

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Russia’s public finances are deteriorating rapidly, with the consolidated budget showing a staggering deficit of 4.95 trillion rubles ($61.9 billion) in the first half of 2025, according to preliminary data from the Federal Treasury. The collapse is stark: during the same period last year, the budget ran a small surplus of 126.1 billion rubles ($1.6 billion).

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Ukrainian Drones Strike Several More Russian Refineries as Gas Crisis Deepens
Crisis in Russia, War

Ukrainian Drones Strike Several More Russian Refineries as Gas Crisis Deepens

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August is turning into a deadly month for Russia’s oil industry. In the space of little more than a week, Ukrainian long-range drones have hit four major refineries across the country, temporarily knocking out units and cutting into a combined capacity equal to nearly 14% of Russia’s national refining potential. The latest strike came on August 10, when explosions rocked the Saratov Oil Refinery, a Rosneft-owned plant on the Volga River.

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Russia Begins Withholding Key Economic Data Amid Kremlin Pressure to Mask Downturn
Crisis in Russia, Economy & Business

Russia Begins Withholding Key Economic Data Amid Kremlin Pressure to Mask Downturn

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In another shift toward opacity, Russia’s federal statistics agency, Rosstat, has begun withholding key economic indicators for June and the first half of 2025— shortly after President Vladimir Putin ordered officials to “in no case allow an economic downturn.” Analysts at PSB, a major Russian bank, were among the first to notice the sudden absence of critical data from Rosstat’s latest publications.

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Russia’s Industrial Activity Slumps to Lowest Level Since 2022
Crisis in Russia, Economy & Business

Russia’s Industrial Activity Slumps to Lowest Level Since 2022

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Russia’s industrial sector posted its steepest decline in more than two years in July, as new data revealed mounting strain across manufacturing. A sharp drop in key indicators points to a weakening wartime economy increasingly burdened by labor shortages, sanctions, and structural inefficiencies. According to S&P Global’s Purchasing Managers’ Index (PMI), Russia’s overall manufacturing PMI plunged to 48.2 in July, down from 52.4 in June. A reading below 50 indicates contraction.

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Russia’s steel industry reports massive losses
Crisis in Russia, Economy & Business

Russia’s steel industry reports massive losses

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In the past week, two of Russia’s largest steel producers have posted earnings showing losses of up to – 89%, as Magnitogorsk Iron and Steel Works (MMK) and Severstal reported collapsing profits, falling revenues, and negative cash flow for the second quarter and first half of 2025. The reports confirm that Russia’s once-dominant steel industry is now grappling with structural decline under the weight of sanctions, rising costs, and a shrinking domestic economy.

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Russian Housing Market Continues to Collapse
Crisis in Russia, Economy & Business

Russian Housing Market Continues to Collapse

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Russia’s housing market is unraveling at accelerating speed, with official figures now confirming the worst half-year performance in recent memory. According to DOM.RF data, sales of new housing in Russia fell 26% year-over-year in the first half of 2025, with the second quarter showing a devastating monthly collapse: April (-25%), May (-40%), and June (-55%). The trend is visible across all core indicators.

Russian Housing Market Continues to Collapse Read Post »

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