The Vienna Institute for International Economic Studies found Russia’s growth has slumped due to sky-high interest rates.

Russia's new wave of tax hikes, designed to mobilise state finances as the war in Ukraine grinds on, is set to hit one in 10 small business owners, many of whom say they will have no choice but to shut down or move into the shadow economy.

Roughly a third of small business owners said they may have to move into the informal economy and stop paying tax altogether.

She worked at Russia’s central bank until early 2022. To sustain its war against Ukraine, Russia militarized its economy. Although—contrary to popular belief abroad—the Russian economy is not on a full wartime footing,

The Kremlin on Wednesday pushed back at U.S. President Donald Trump's warning that the Russian economy was going to collapse, saying that Russia had considerable reserves and was strong enough to allow President Vladimir Putin to achieve his goals.

After years of insulation from the effects of Vladimir Putin’s war, Russia’s economy is finally starting to take a hit.

As Moscow faces growing economic challenges to fund its war against Ukraine, Russia is expected to be in a nearly £75 billion deficit by next year. President Volodymyr Zelensky announced the news on Sunday, speaking at a briefing attended by the Ukrainian news outlet Kyiv Independent.

We believe that next year Russia will have a significant deficit — nearly $100 billion. We have seen the documents — a month ago, this figure was $71 billion, but we see that their problems have indeed increased,