Russian economy

Russia’s budget deficit hits $79 billion in seven months, already 1.7 times annual target

Russia’s federal budget swung back into deficit in July after a brief surplus in June, as government spending continued to grow faster than revenue. The accumulated deficit for the first seven months of 2026 has already significantly exceeded the government’s full-year target.

12 August, 12:25 PM

Second wave of fuel shortages rolls over Russia

Fuel shortages driven by renewed Ukrainian drone strikes on oil refineries and logistics centers have spread to at least 16 Russian regions, independent outlet The Moscow Times reported on Aug. 11.

12 August, 01:38 AM

Russia's oil and gas revenue rises sharply in July

Russia's federal budget revenue from oil and gas rose 18.6% in July 2026 compared with July 2025, reaching 934 million rubles ($11.5 million) — also up 36.6% from June — driven by high oil prices and the payment of a windfall profit tax for the second quarter, The Moscow Times reported on Aug. 5.

6 August, 05:20 PM

Russia's refinery crisis costs budget $15 billion since April

For a fourth consecutive month, Russia's government has paid out hundreds of billions of rubles in subsidies to oil companies as their refineries are repeatedly struck by drones and forced offline, according to data published by Russia's Finance Ministry on Aug. 5.

6 August, 02:15 PM

Wildberries looks to Russia’s neighbors to avoid Ukrainian drones

Russia’s largest online marketplace, Wildberries, is redirecting goods intended for long-term storage to warehouses in Kazakhstan, Uzbekistan, and Belarus after Ukrainian strikes on its logistics hubs, independent outlet The Moscow Times reported on Aug. 4.

4 August, 11:48 PM

Russian grain exports drop 37% in July following Black Sea disruptions

Russia exported 2.03 million metric tons of major grain crops in July 2026 compared to 3.25 million metric tons in July 2025 — a 37.6% decline — following disruptions in the Azov-Black Sea region, Interfax wrote citing the Russian Grain Union.

4 August, 01:10 PM

Fuel crisis pushes Russian settlers out of Crimea, HUR says

Problems with fuel, electricity, and water supply are worsening across occupied Crimea, forcing many Russians who moved to the peninsula after its illegal annexation in 2014 to return to Russia, Ukraine’s Defense Intelligence (HUR) said on Aug. 3.

3 August, 10:47 PM

Drone strikes hit 12 of Wildberries' 15 biggest warehouses

Ukrainian drones struck a Wildberries logistics center in Russia's Vladimir Oblast on the morning of Aug. 3, making it the 12th of the company's 15 largest warehouses to be hit by drone strikes, according to Russian outlet Agentstvo Novosti.

3 August, 03:13 PM

Russian diamond giant Alrosa posts $134 million net loss as revenue drops 36%

Russia’s Alrosa, the world's largest diamond mining company, reported a net loss of 10.67 billion rubles ($134.1 million) for the first half of 2026, Interfax reported on July 31.

3 August, 12:50 PM

Wildberries prices jump 10%-30% after Ukrainian strikes

Prices offered by Russia’s major online retailer Wildberries rose 10%–30% within days after Ukrainian strikes on its warehouses, independent outlet The Moscow Times reported on July 31.

31 July, 11:51 PM

Russian businesses warn Kremlin Wildberries strikes could drain tax revenue

Russian entrepreneurs are urging the Kremlin to provide tax relief and loan-payment deferrals to small and medium-sized businesses hit by Ukrainian strikes on Wildberries warehouses, warning that closures would cut tax revenue, The Moscow Times reported.

29 July, 06:51 PM

Russia limits grain shipments via Black Sea terminals

Three large grain terminals on Russia’s Black Sea coast have restricted truck deliveries after intensified Ukrainian drone attacks on ships and port infrastructure, Reuters reported on July 28, citing industry sources.

29 July, 03:30 AM

Russia to keep military spending a priority for 3 years, Putin says

Military spending will remain a top priority in Russia’s federal budget for the next three years, Russian dictator Vladimir Putin said on July 27, as reported by independent outlet The Moscow Times.

28 July, 12:36 AM

Russia to receive first shipment of Indian gasoline July 26

As Ukrainian strikes continue reducing Russia’s refining capacity, the first shipment of gasoline from India is expected to arrive on July 26, the Financial Times reported on July 23.

23 July, 10:51 PM

Russia reroutes fuel from Siberia to Moscow

Russia is rerouting fuel from Siberia to Moscow to avoid shortages in the capital, Reuters reported on July 21, citing industry sources.

21 July, 08:50 PM

Russia’s Pskov cracks down on fuel hoarders

Security forces in Russia’s Pskov Oblast have launched raids to find residents hoarding scarce gasoline, regional Governor Mikhail Vedernikov said on July 20.

20 July, 10:47 PM

Ukrainian drone campaign paralyzes quarter of Russia's grain exports

Halt of the Azov Sea navigation amid Ukrainian drone strikes has paralyzed a quarter of Russia's grain exports, driving global wheat prices up by 3% to 5% as Russian farmers face catastrophic gluts in the middle of season, Forbes Russia wrote.

15 July, 10:54 AM

Russia set to lose trillions of rubles as oil prices collapse, threatening federal budget

Russian oil exports have reached a record level as the loss of up to a third of the country's refining capacity forces Russian companies to export more crude. At the same time, revenue from those sales is falling along with the price of Russian oil, The Moscow Times reported on July 7.

8 July, 03:04 PM

Russia desperately scrambles to refill its National Wealth Fund with gold

To refill Putin's "piggy bank," the Russian Ministry of Finance will buy foreign currency and gold for the third consecutive month, The Moscow Times reported on July 3.

6 July, 12:30 PM

Russian refinery subsidies jump sixfold in June

Payments from Russia’s state budget to refineries that supply the domestic market rose more than sixfold in June year-over-year, Bloomberg reported on June 3, as the government moves to ameliorate fuel shortages.

4 July, 01:20 AM

Russian economy

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