• Wonkblog: Putin is trying to save Russia’s economy with one weird trick

    Vladimir Putin wants to have his dollars, spend them too, and invade Ukraine.That's impossible, of course, but he's trying to make it a little less so with some financial legerdemain that covers up what's really going on. Putin, you see, is forcing Russia's companies to spend their dollars instead—but Russia's ...

  • Russia to impose wheat export duty from February

    Russia has said it will from February apply a duty of at least 35 euros ($43) per tonne of wheat sent for export as it tries to lower prices on its domestic market, hit by the ruble's fall.

  • Putin orders vodka price cap as Russia’s economy goes on the rocks

    Russian President Vladimir Putin ordered his government on Wednesday to rein in rising vodka prices, as he battles to preserve his popularity amid an aggravating economic crisis. Putin told a meeting with government officials and regional governors that expensive vodka prices encourage the production of bootleg spirits, which carry greater ...

  • U.S. Accuses Russia of Flouting WTO Trade Rules

    WASHINGTON - Russia is starting to backslide on its commitments to become a fully-fledged member of the global economy and trading community, the United States' trade office said on Monday.

  • Turkey ‘a reliable partner for Russia’

    Russian Energy Minister Aleksandr Novak considers Turkey to be a reliable partner for the delivery of Russian natural gas to Europe, he said in a live TV interview

  • China Seeks to Use Yuan More in Trade With Russia

    BEIJING - China's trade minister proposed more use of China's currency in settling trade with Russia in the face of a falling ruble to ensure safe and reliable trade, Hong Kong broadcaster Phoenix TV reported on Saturday.

  • IKEA Unfreezes Sales of Kitchen Appliances in Russia

    IKEA, the world's biggest furniture retailer, said on Saturday it had resumed selling kitchen furniture and appliances in Russia after suspending sales on Thursday as it was not able to meet increased demand.

  • For Russia's economy, the worst is yet to come

    MOSCOW - Deep recession, skyrocketing prices and a fragile banking system: although the ruble seems to have stabilised after its abysmal drop this past week, Russia still faces the heavy consequences of the turbulence.