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6 December 2017

Two Lean Years: Russia’s Budget for 2018-20

A worrying few years lie ahead for Russia’s economy. The Russian government is cash-strapped at both national and regional levels, and it will be education, health, wages and welfare that take the hit. High military spending is set to continue.

10 November 2017

Russia’s Regional Debt Spiral

Russia’s regional governments owe vast sums to commercial banks and the federal government in Moscow. Those debts are spiralling out of control and need repaying. But where will those repayments come from?

27 September 2017

Danger and Dysfunction in Russia’s Private Banking Sector

Russia’s Central Bank launched a recent clean-up operation to stop Russia’s largest private bank Otkritie from going bankrupt. A one trillion-rouble “hole” had been discovered in Otkritie’s assets. Almost immediately after that, the Central Bank had to bailout another – BinBank, Russia’s 12th largest. Where does this leave the country’s private banking sector? 

23 September 2017

How Transneft lost its legal battle against Sberbank

Despite normally wielding vast influence in Russia’s courts, Transneft fell foul of an unwritten rule: State energy businesses may attack private firms but not other state enterprises

18 September 2017

Sanctions Therapy?

Sanctions are effectively remodeling Russia's financial relations within the country at the same time as it redraws its financial links with the outside world