Economy Russia

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Russia-Ukraine war at a glance: what we know on day 586 of the invasion

The Guardian 02 Oct 2023

Ukraine marked Defenders Day, honouring veterans and remembering soldiers killed in Russia’s invasion ... Ukraine’s economy has suffered since Russia invaded in February 2022, with Kyiv relying heavily on western aid to finance social and humanitarian payments.

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Oil prices have risen. That's making gas more expensive for US drivers and helping Russia's war

The Norman Transcript 01 Oct 2023

Oil is Russia’s main moneymaker, so higher prices help the Kremlin pay for its invasion of Ukraine and weather sweeping Western sanctions aimed at crushing its wartime economy ... Russia has lost some $100 billion in oil revenue following a European Union import ban and a ...

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Russian oligarch Oleg Deripaska asks court to render Australia’s sanctions regime invalid

The Observer 01 Oct 2023

At the time, the then foreign minister, Marise Payne, said the sanctions were designed to place “pressure on the oligarchs close to Vladimir Putin”, Russia’s president ... Deripaska was among the oligarchs sanctioned by the US in 2018 for reasons including Russia’s invasion of Crimea in 2014.

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Ukraine Reports Shooting Down 16 Drones

Voa News 01 Oct 2023

The British Defense Ministry said in its daily intelligence update about Ukraine that “apparently leaked” documents from Russia’s Finance Ministry “suggest” that Russia is prepared to greatly increase its defense spending ... These numbers, the ministry said, suggest that Russia “is preparing for multiple further years of fighting in Ukraine.”.

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EU Pledges Long-Term Ukraine Military Aid Despite Growing Dissent

Voa News 01 Oct 2023

"We are not changing that we are prepared to help Ukraine in a humanitarian way," said the pro-Russia Fico, whom analysts consider to be inspired by Hungary's nationalist Prime Minister Viktor Orban, an opponent of the EU’s commitment in arming Ukraine ... Meanwhile, Russia ...

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COST OF CRUDE ON THE RISE

Independent Tribune 01 Oct 2023

The increase also complicates the global fight against inflation and feeds Russia's war chest ... How do higher oil prices help Russia?. Oil is Russia's main moneymaker, so higher prices help the Kremlin pay for its invasion of Ukraine and weather sweeping Western sanctions aimed at crushing its wartime economy.

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Russian Defence Spending To Surge As Kremlin Prepares For 'Multiple Years' Of War In Ukraine

Huffington Post 01 Oct 2023

Russia is set to dramatically increase the amount of money it spends on defence as the country prepares for “multiple years” of war in Ukraine, according UK intelligence ... The MoD said Russia’s military spending splurge will come “at the expense of the wider economy” ... Russia invaded ...

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Oil records weekly loss but gains 22% in third quarter amid tightening supplies

The National 01 Oct 2023

Crude futures have been rising on Opec+ production cuts, as well as additional supply reductions by group members Saudi Arabia and Russia ... Last month, Russia announced a temporary ban on petrol and diesel exports in response to domestic shortages, adding to the tightness in the market.

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Cyprus hails two-notch rating upgrade by Moody’s

Ekathimerini 01 Oct 2023

“We will carry on buttressing our economy and expanding its dynamic course.” ... “These developments also support the resilience of the Cypriot economy to external shocks as shown for instance in the context of the pandemic and the Russia-Ukraine war,” the agency said, adding that it expects the Cypriot economy to grow by 2.3% in 2023 and 2.8% in 2024.

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Zelenskyy Hopes to Make Ukraine a Leading Weapons Manufacturer

Beijing News 01 Oct 2023

Ukrainian officials also see the development of domestic defense production as a boost to the economy, which shrunk by about a third last year because of the war. Annexed regions chose Russia, says Putin ... Putin referred to Russia's Central Election Commission claim that the country's ruling party won the most votes.

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Armenia grapples with multiple challenges after fall of Nagorno-Karabakh

The New Arab 01 Oct 2023

Relations with Russia, an old ally and protector, have frayed amid mutual accusations ... "Economically speaking, strategically speaking, Russia is still very deeply embedded in the Armenian economy in terms of energy supply and ownership over key strategic assets," Broers said.

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Armenia grapples with multiple challenges after the fall of Nagorno-Karabakh

Wtop 01 Oct 2023

Relations with Russia, an old ally and protector, have frayed amid mutual accusations ... “Economically speaking, strategically speaking, Russia is still very deeply embedded in the Armenian economy in terms of energy supply and ownership over key strategic assets,” Broers said.

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IMF team to begin meeting officials in Ukraine

The Economic Times 01 Oct 2023

Ukraine's economy has been hit hard since Russia launched a ...

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Kremlin adviser discusses Russia's economic shift amid Western sanctions

MENA FN 01 Oct 2023

(MENAFN) Western sanctions have compelled Russia to reshape its economy and pivot towards rapidly emerging markets in Asia, stated Kremlin adviser Maksim Oreshkin during the Moscow Financial Forum ... .

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How will Europe weather a second winter without gas from Russia?

The Observer 01 Oct 2023

Europe will enter its second winter since turning off the taps to Russia’s gas pipelines with record-breaking reserves ... In the past, the UK has imported just 2% of its considerable gas consumption from Russia ... Before the Kremlin’s war, Germany sourced as much as half of its gas by pipeline from Russia, for generating electricity and heating homes.