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The Latest Breaking News from Elvira Nabiullina

Putin finally admits Russia's economy is in trouble and grasps for answers, after warnings about a financial crisis have been piling up

Putin revealed that GDP shrank by combined 1.8% in January and February, adding that manufacturing, industrial production, and construction were negative.

Fortune

Russia Cuts Key Interest Rate, Warns Of Tepid Growth

Russia's central bank on Friday cut its benchmark interest rate and said growth had slowed to almost zero as the economy sags under the cost of the Ukraine offensive and Western sanctions.

International Business Times

Russia Cuts Interest Rate As Economy Slows

Russia's central bank on Friday cut its key interest rate, but warned inflation was still too high, amid growing fears of an economic slowdown after bloated spending on the Ukraine offensive.

International Business Times

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Russia’s economy minister warns that the country is on the brink of recession

Russia’s economy has been hit with a slew of sanctions after the Kremlin sent troops into Ukraine

The Independent UK

Russian Central Bank Holds Key Rate At Two-decade High

Russia's central bank kept its key rate at a two-decade high of 21 percent on Friday and warned it could raise borrowing costs further as it battles rampant inflation.

International Business Times

Russian Central Bank Sharply Raises Inflation Forecast

Russia's central bank sharply raised its inflation forecast for 2025 on Friday, warning there was no sign rocketing price increases would go into reverse.

International Business Times

Russian central bank takes desperate stand to halt collapsing ruble and fierce inflation

Worth a fraction of a penny now, the ruble has fallen to lows not seen since March 2022, in the early days of the war against Ukraine.

Fortune

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Russia Raises Interest Rate To Record-High 21%

Russia's central bank raises interest rates to 21% to combat inflation from military spending and supply-demand imbalances.

Top News

Russian Bank CEO: Interest Rates Are Going Up Because Top Official Is a Woman

Andrey Kostin said the bank's interest rates would reach about 21% by the end of the year, but told Russian media to ask the governor.

Latin Times

Russian Central Bank Hikes Rate As Inflation Jumps

Russia's central bank on Friday raised interest rates to 19 percent amid the country's ongoing Ukraine offensive, warning inflation was running too high and it needed to cool the economy.

International Business Times

Russian Central Bank Hikes Key Rate To Fight Inflation

Russia's central bank raised its key interest to 18 percent on Friday, the sixth hike in just over a year as it seeks to tame soaring price rises.

International Business Times

Russian Central Bank Chief Calls For 'Open Economy'

Russia's central bank chief called Thursday for Russia to be an "open economy" despite the barrage of Western sanctions and trading restrictions it has been hit with over its Ukraine offensive.

International Business Times

Ruble sinks back to 100 versus dollar in new headache for Russia

The ruble depreciated near 100 per dollar again, briefly crossing an important psychological mark for Russian consumers and the government after past efforts by policymakers failed to arrest the currency’s decline.

The Times of India

Vladimir Putin’s ruble is now worth less than a penny, infuriating his inner circle

After emergency stopgap measures helped Russia’s currency defy expectations to hit a seven-year high, it is now plumbing lows not seen since the war started.

Fortune

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The Independent UK

Belarus has no immediate plans to adopt Russian currency, its strongman leader Lukashenko says

Belarus and Russia have no immediate plans to adopt a joint currency, Belarus' strongman leader announced on Monday

Reuters

Russia building reserves in assets the West can't sanction - central bank chief

Russian Central Bank Governor Elvira Nabiullina said on Tuesday Russia is building its international reserves with assets that cannot be targeted by Western sanctions, the TASS news agency reported.

The Guardian - UK

The sanctions war against Russia: a year of playing cat and mouse

Early claims Moscow would buckle quickly proved hubristic, yet Putin has also made miscalculations

The Guardian - UK

UK ‘not out of the woods yet’ after economy dodges recession by a whisker; Russia cuts oil output – as it happened

Latest GDP report shows that UK economy flatlined in final quarter of last year, while Russia is to cut oil production over Western price caps

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Reuters

Russian businessman asks London court to pause $850mln lawsuit over sanctions

A prominent Russian businessman on Tuesday asked a London court to pause an $850 million fraud lawsuit brought by two Russian banks because of UK sanctions, arguing that any money recovered could be used to “indirectly fund the war in Ukraine”.

Daily Mirror

Vladimir Putin 'had 13-hour coughing fit and chest pain' before delaying TV speech

The General SVR Telegram channel has claimed that 'several attempts to start recording an appeal were frustrated due to coughing' and doctors were called after four unsuccessful attempts to record the address

The Independent UK

Russian economy 'won't be as it was,' central banker says

The head of the Russian Central Bank is warning that the country’s economy faces pressure from abroad that could persist indefinitely, dampening hopes that conditions could return to the way they were before Russia sent troops into Ukraine

The Independent UK

Russia's economic forum to be far smaller but moves forward

Russia’s showpiece investment gathering begins Wednesday, and organizers are telling foreign participants to be sure to bring cash — not necessarily for making investments, but for spending money

The Guardian - UK

Russia ‘preparing legal action’ to unfreeze $600bn foreign currency reserves

Elvira Nabiullina lawsuits aim to release gold and foreign currency frozen amid sanctions over Ukraine invasion

Bangkok Post

Russia delivers surprise rate cut

Russia’s central bank unexpectedly slashed its key interest rate in a sign of confidence that the worst of the financial turmoil triggered by the invasion of Ukraine is past.

Daily Mirror

Russia defence minister 'has heart attack after Putin accuses him of botching invasion'

There was no proof of the supposed televised Sergei Shoigu session broadcast and some cried fake amid rumours the previously missing minister suffered a heart attack after being accused by Putin

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