Russia hit a record oil revenue month—yet the federal budget still came up short
Sberbank’s CFO forecasts the ruble will fall to 90 per dollar. Three ports already show 13–43% drops.
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ruble exchange rate
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Vladislav Inozemtsev: A collapse is not imminent
Economist Vladislav Inozemtsev on oil windfalls, Ukrainian strikes, and why the war will be won on the ground
Russia’s GDP growth collapsed 76%—a Kremlin think tank says worse is coming (INFOGRAPHIC)
Growth plunged from 4.3% to 1% in 2025, and a recession may follow in 2026.
Russia’s energy revenues crash by 19% as war devours civilian budget
With gas exports to Europe halved and oil profits plunging, the Kremlin raids its welfare fund while fueling the front.