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The Russian economy faces a new “perestroika”as it is forced to adjust to life under heavy sanctions and international isolation, the country’s Central Bank warned Friday.
The regulator opted to hold interest rates at 20% in a scheduled rate-setting meeting, following an emergency hike late February in the days after Moscow launched its invasion of
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Read more: Russian Economy Facing ‘Massive Structural’ Challenges, Central Bank Says
Write comment (100 Comments)Russian regulators on Friday accused U.S. tech giant Google and its video subsidiary YouTube of "terrorist" activities, the first step towards a possible access ban.
Russia has already blocked access to other global tech giants including Facebook, Twitter and Instagram as well as several independent media.
Russian media regulator Roskomnadzor said
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Read more: Russia Accuses Google, YouTube of 'Terrorist' Activities
Write comment (93 Comments)Russian missiles struck close to Lviv's airport in Ukraine's far west Friday, extending the war to a relatively unscathed region near NATO territory, as China came under U.S. pressure to restrain its Kremlin allies.
Ambulance and police vehicles raced to the scene of the early-morning strike on an aircraft repair plant near the border of NATO
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Read more: Russian Strikes Hit West Ukraine as U.S. Urges China to Get Tough
Write comment (90 Comments)The Kremlin has told Russians not to panic buy staple goods such as sugar and buckwheat as prices rise at a record rate and shortages have been reported across the country.
“Russians have absolutely no need to run to the shops and buy-up buckwheat, sugar and toilet paper,” Kremlin spokesman Dmitry Peskov told reporters Friday, when asked about rep
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Read more: Kremlin Warns Against Panic Buying as Food Prices Rise Fast
Write comment (99 Comments)Former Kremlin aide and ex-deputy prime minister Arkady Dvorkovich on Friday stepped down as chair of the Skolkovo Foundation after becoming a rare official voice of dissent against Moscow's military intervention in Ukraine.
Established in 2010, the Skolkovo Foundation has aimed to diversify the country's economy from oil and gas, foster start-ups
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Read more: Russian Official Who Spoke Out Against ‘War’ Leaves Post
Write comment (91 Comments)Rich Russians have around $200 billion stashed in super secretive Swiss bank accounts, the country’s banking industry association estimates, as cited by Reuters.
In a rare public statement on client holdings, the Swiss Bankers Association said it estimated Russians held 150-200 billion Swiss francs ($161-214 billion) with banks based in the country.
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Read more: Russians Have $200Bln in Swiss Bank Accounts – Reuters
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