Russia stalled bankruptcy reform for six years—then passed it in two days
Russian companies owe more than the country produces in a year, and a reform frozen since 2020 was cleared by parliament in two days.
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Russian economy
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Trade, banks, energy, crypto—the EU keeps its full Russia economic sanctions wall standing to 2027
The Council also held open the door to a 21st package still being negotiated.
Russia poured 46% of its budget into the military in early 2026 even as revenue fell — ISW
Moscow promised to cut war spending in 2026. It raised it 30% instead, according to an expert's assessment.
Russia tells its regions to raise taxes on residents and businesses to plug a record budget hole
The combined regional gap grew fivefold from 2024 and almost eightfold from 2023, with the tax service now pressing governors to find more revenue.
Russian refining output fell 9.2% in April as Ukrainian drone strikes hit fuel plants
Moscow stopped publishing fuel output. Rosstat’s own index registered the drop regardless.
Russia’s four-month budget deficit hit $75.4 billion — 50% above what Moscow planned for entire year
Ukrainian PM says even high oil prices aren't saving Russia. The IMF, citing those same prices, just raised its Russia forecast.
Ukraine says it has Russia’s hidden war-damage assessment — one Moscow won’t show its own population
A single mid-sized Russian oil company has been forced to shut down around 400 wells.
$7 billion lost from Russia’s war economy this year through Ukraine’s “long-range sanctions” on oil sector – Zelenskyy
Damage to processing and export facilities has reduced Russia’s ability to sell oil abroad at full capacity, driving a sharp drop in export earnings.
90% of Russian passenger traffic still flies on Boeing and Airbus, while Russia promotes its MS-21 as “Boeing killer”
Before sanctions, the MS-21 showed genuine promise — powered by American engines and built with imported composites.
“Russia has never seen this”: Russia’s central bank chief admits a 2.5 million worker deficit
Reserve down 2.5 million as the state squeezes small business and retrains war widows.
Ukrainian strikes have wiped $25.5 billion off Russia’s war machine, Syrskyi says
Ukrainian drones now kill Russian troops faster than Moscow can replace them – for four months running, Syrskyi says.
Russia’s 20% windfall tax breaks Putin’s promise—again
Oligarchs offered donations. Moscow chose compulsion, with oil at a four-year high.
Russia spent $130 billion extra on sanctioned goods since 2022 — and it still couldn’t find replacements for some of them, Latvia says
Latvia's intelligence service assesses that Putin likely receives sanitized reports burying the economic losses — making him even less likely to change course under economic pressure.
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
Putin is collecting gifts from Iran’s war he didn’t even ask for: huge oil check and permission to kill
The US went to war against Iran to neutralize a threat. For Putin, it's a gift basket.
Russia cut small business support by a third—then sent the tax collector
The Kremlin chose to abandon its civilian economy. Now the VAT bill arrives.
Russian manufacturers can’t find workers—but they’re cutting the ones they have
Production declined for the 12th straight month, but firms are now shedding workers, too.
Bilateral deals for Washington, maximalist war aims for Moscow — ISW maps the Kremlin’s two-track play
While Lavrov blamed Ukraine and the EU and railed against Western security guarantees, Kremlin officials were at the same time calling on Washington to lift “illegal” sanctions and calculate the price of frozen US–Russian commerce.
Trump extends all US sanctions against Russia for another year, calling it an “extraordinary threat”
The renewal covers the full range of restrictions imposed under Obama, Trump's first term, and Biden since 2014 — keeping them in force until at least 6 March 2027
Ukraine in exchange for money: US-Russia deal revenues could reach only $340 billion, far short of claimed $12 trillion
Even with sanctions lifted, assessments show Russian income streams would be unstable and insufficient to meet Kremlin claims.