Russia’s regional finances are deteriorating rapidly as the costs of the war in Ukraine continue to mount. New figures show local governments across the country facing record deficits amid weakening ...

Russia’s deficit nearly hit its annual target in two months, forcing Moscow to cut investment and infrastructure to keep funding the war.

The Russian economy is stuck in what might be described as negative equilibrium: holding itself together while steadily destroying its own future capacity. Export revenues are falling, and economic ...

Russia's crucial oil and gas revenues, which have sustained its war against Ukraine, have suddenly dwindled to multi-year lows as the fourth anniversary of the full-scale invasion approaches. This ...

January and February this year were bleak on the fiscal front for Russia, as low oil prices, a looming global oil glut, and compounding sanctions tightened the screws on Russia's energy sector.

The Russian envoy claimed Washington now understood the “systemic role of Russian oil and gas in ensuring the stability of ...

The Kremlin’s financial situation is becoming increasingly dire and could come to a head in a matter of months as oil revenue shrinks while President Vladimir Putin shows no intention of ending his ...

Kremlin officials said the American move, which Europe opposes, showed that Moscow could not be dislodged from the center of global energy markets.