Alexander Kolyandr is a researcher for the Centre for European Policy Analysis specialising in the Russian economy and politics. Previously he was a journalist for the Wall Street Journal and a banker for Credit Suisse. He was born in Kharkiv, Ukraine and lives in London.
Russia’s ruble is in trouble. The currency has plunged to its lowest rate against the dollar since the weeks after the outbreak of war against Ukraine. On Wednesday, the ruble hit 110 against the dollar for the first time since 16 March 2022. The currency has recovered slightly, to 108 against the dollar this morning,
The Central Bank of Russia raised its benchmark rate to a twenty-year high of 21 per cent on Friday – and has indicated that it could go even higher. Even Vladimir Putin, a notorious serial boaster, won’t be caught bragging about this tell-tale sign of a not-so-healthy economy. The writing is on the wall: Russia
Russia’s spending on its war in Ukraine continues to grow. Somehow, despite tightening sanctions and increased global isolation, two-and-a-half-years in to the conflict, it appears Moscow can continue to splash the cash on its army – for now. Spending on president Vladimir Putin’s military is set to increase by more than a quarter to 13.3
The leaders of the European Union can give themselves a pat on the back. They have, on the face of it, delivered on a promise made following Vladimir Putin’s invasion of Ukraine to end the export of European goods, machinery and parts critical to Russia’s war effort. Yet things are not quite as straightforward as they
Vladimir Putin’s costly war in Ukraine has transformed Russia as the president has forced the country to pivot onto a war footing to support it. Now, going a step further, Russia is embarking on a significant tax regime overhaul, a move that hasn’t been seen in almost a quarter of a century. The tax shake-up
Barely a week after inaugurating himself as president once again, Vladimir Putin has gone to China – his first foreign trip of his new term. He is accompanied by a rarely seen entourage of all the principal ministers of state, the head of the Russian central bank, leading industrialists and top managers of state-controlled companies.
President Vladimir Putin’s appointment of the civilian economist Andrei Belousov as Russia’s defence minister in the third year of the full-scale invasion of Ukraine is bad news for Kyiv and its allies. Replacing the unpopular Sergei Shoigu with Belousov marks a clear shift in Putin’s strategy: he views the war as a battle of economic attrition.
Over two years on from the invasion of Ukraine, Russia is the most sanctioned nation in the world. And yet the country’s economy is set to grow faster than any G7 democracy this year. How is this possible? Back in 2022, Boris Johnson vowed to ‘squeeze Russia from the global economy piece by piece, day by day
