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Italian firms in Russia lead to €1bn boost for Kremlin war coffers

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World News

Pressure on Russia's economy intensifies as war in Ukraine continues

Russians are likely to face higher taxes as the burden on the budget grows and the Central Bank of Russia says that "the economy needs a breather."

EuroVerify

Is Russia producing a year's worth of NATO ammunition in three months?

NATO Secretary General Mark Rutte has repeatedly said that Moscow’s annual ammunition production capacity is four times greater than that of the western alliance.

Economy

Which countries will lose the most if tensions reignite around Iran?

Russia could benefit from an escalating situation in the Middle East, while China and Europe would see their economies suffer if the ceasefire between Iran and Israel fails to hold.

Business

UK elite law firm fined over €500,000 for Russian sanctions breaches

The firm voluntarily reported the breaches to the OFSI, although the UK's Treasury body said it must remain "steadfast" in its commitment to sanctions.

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Economy

Billions on ice: What to do with Russia's frozen assets?

With US support for Ukraine in doubt, Kyiv's European allies are weighing whether to seize $300bn (€274bn) in frozen Russian assets.

Ukraine

Trump claims war in Ukraine could end if price of oil falls

Addressing the World Economic Forum, the US president pledged to apply pressure on OPEC, claiming that a drop in the price of oil would end Russia's full-scale invasion of Ukraine.

Russia

Russian central bank holds interest rate at 21%

The decision has brought criticism from influential business figures, who say high rates are hindering business activity and preventing growth.

Europe News

Ukraine: New EU sanctions package against Russia 'not enough'

The European Union on Wednesday issued new sanctions against Russia, targeting the "shadow fleet" of tankers. Ukraine’s Presidential advisor and commissioner for sanctions policy says he welcomes the step, but believes pace remains a problem.

Economy

Russian central bank hikes interest rate to record-high 21%

Russia's central bank has hiked the key interest rate by 200 basis points to a record-high 21% in a bid to fight inflation, fuelled by military spending.

Economy

Russia's economy: A balance between labour shortage and military might

Russia's leadership finds itself in a peculiar dilemma – it lacks manpower to protect its borders and continue the fight in the Donbas, but it also needs to plug labour gaps if it is to sustain its war economy.

Europe News

Brussels agrees to send €3bn from frozen Russian assets to aid Ukraine

Diplomats agreed the controversial plans at a meeting on Wednesday – but some say they don’t go far enough.

Economy

Why haven't Western sanctions worked on Russia's economy?

Renewed packages of sanctions from the EU and US were supposed to weaken the Russian economy. Instead, it has adapted, and remains robust just as Vladimir Putin is about to get reelected for a fourth presidential term.

Economy

Hardy Russian economy a key selling point as Putin plans reelection

“For most Russians, who choose to ignore the war, the economy is really the biggest issue,” one expert said.

Business

How are Russian businesses doing two years into the Ukraine conflict?

On the two year anniversary of the Russia-Ukraine war, Euronews Business looks at how Russian businesses have done in the face of various international sanctions.

Economy

Worry in Russia as egg prices soar ahead of festive season

Some Moscow residents claim egg prices have doubled, as Russia continues to battle persistent inflation and Western sanctions.

Economy

Russian consumers in a tight spot as high inflation persists

Some Russian pensioners claim they would be unable to afford rent and food without the help of their children, due to soaring levels of inflation.

Business

Why executives of Carlsberg's Russian brewery face 10 years in prison

The alleged fraud highlights the difficulties that Western firms and their executives face in trying to leave Russia.

Economy

Boost for Putin as Russian parliament approves defence-heavy budget

Russia's defence spending is due to overtake social spending for the first time in the country's modern history, but analysts say that such measures may prove challenging in the long run.

Markets

How a dark fleet of ships is helping Russia evade oil sanctions

A dark fleet, untraceable operators, and discounts helped Russian oil trade flow despite Western sanctions in the last 18 months.

Economy

In spite of a recent dip, Russian banks face record profits this year

High interest rates took a bite out of consumer lending and took a toll on banks' profits in September.