Latest news and articles about russian economy from NEX English
Russian President Vladimir Putin has dismissed rumors of a significant downturn in the Russian economy, stating that it is experiencing a notable recovery. He emphasized that economic growth in Russia surpasses that of the European Union by threefold.
Russian Finance Minister Anton Siluanov revealed significant financial disparities among Russian regions, noting that some areas require additional federal support to ensure their financial stability. This comes amid various economic challenges facing Russia, including the impact of Western sanctions.
Dmitry Berichivsky, Director of Economic Cooperation at the Russian Foreign Ministry, announced that a group of American businessmen intends to participate in the upcoming International Economic Forum in St. Petersburg. This announcement comes amid notable tensions in economic relations between Russia and the United States.
Reports indicate that the Russian economy is under increasing pressure due to ongoing European sanctions since the start of the war in Ukraine. Despite Russia's continued military operations, economic indicators show a clear decline.
Russian President Vladimir Putin emphasized that the Russian economy has faced serious external challenges for several years, affecting its stability and growth. These remarks come at a time when the world is experiencing significant economic and political fluctuations.
Elvira Nabiullina, the Governor of the Central Bank of Russia, has called on commercial banks to hold reserves in yuan to prevent a shortage of the Chinese currency in the foreign exchange market. This move aims to mitigate excessive lending and stabilize the financial system.
Russian presidential aide Maxim Oreshkin stated that Western sanctions have not negatively impacted the country's foreign trade. He highlighted that <strong>85%</strong> of this trade is conducted in rubles and currencies of BRICS nations, showcasing Russia's economic adaptability.
The Central Bank of Russia announced the official exchange rate for the US dollar on April 24, 2026, set at <strong>74.8349 rubles</strong>, reflecting a decrease of <strong>16.46 kopecks</strong> from the previous rate. This adjustment comes amid a relative stabilization of the ruble.
A British businessman has launched a project to revive Soviet-era watches, targeting the luxury market in Russia. This initiative comes amid a growing interest in Soviet heritage and reflects a trend towards enhancing national identity.
The Russian port of Ust-Luga, a vital hub for the country's hydrocarbon exports, was hit by a drone attack, resulting in injuries to three individuals, including two children. The incident occurred late last night as debris from the drones fell on residential buildings and a school in the area.
Official data indicates that the Russian economy experienced a notable slowdown in its decline in February 2026, with a year-on-year decrease of <strong>1.5%</strong>, compared to a larger drop of <strong>2.1%</strong> in January of the same year.
A recent survey by S&P Global reveals that the Russian manufacturing sector experienced a significant contraction in March 2023, marked by declines in production and new orders. The Purchasing Managers' Index fell to 48.3 points, indicating deteriorating economic conditions.
Rosneft, Russia's largest oil producer, announced a significant decline in its net income for 2025, dropping by 73% to reach <strong>293 billion rubles</strong> (approximately <strong>$3.60 billion</strong>). This downturn is attributed to rising interest rates and increased profit taxes.
Ukrainian President Volodymyr Zelensky has stated that the ongoing war in Ukraine is benefiting the Russian economy, with rising oil prices and eased U.S. sanctions bolstering Russia's ability to continue the conflict.
The Russian port of Ust-Luga, one of the country's largest oil export centers, was attacked by Ukrainian drones on Sunday, resulting in a fire. Alexander Drozdenko, the governor of the Leningrad region, confirmed the incident via Telegram.
Russian President Vladimir Putin announced today the commencement of construction for the new National 'Russia' complex in Moscow, aimed at showcasing the achievements of Russian industry and economy. This project is seen as a strategic step to enhance national identity and social pride.