Contents tagged with Russia
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Russia faces economic challenges as oil revenue dwindles and borrowing efforts falter
Efforts by Russia’s Finance Ministry to curb its budget deficit through foreign borrowing have faltered significantly.
The collapse in oil prices, fueled by President Donald Trump's trade war, is taking a significant toll on Russia’s economy, leaving a gaping hole in the country's budget without an apparent solution. This issue is highlighted in a blog post by Russian economist Vyacheslav Shiryaev.
The Finance Ministry is scrambling to fill the budget void as oil revenues plummet, but it …
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Estonia warns of EU's dilemma: Putin could gain frozen assets if Orban blocks Russia sanctions renewal
Estonian Foreign Minister Margus Tsahkna has issued a stark warning, suggesting that the European Union might have to yield €240 billion of frozen assets to Russian President Vladimir Putin should Hungarian Prime Minister Viktor Orban obstruct the renewal of sanctions against Russia in June, as reported by Spiegel.
Tsahkna called for a more resolute stance from European leaders towards Orban, signaling that Budapest's voting rights might be revoked to prevent fractures within the EU. He …
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Russia's spring draft targets record 160,000 conscripts amidst mounting Ukraine war casualties
The spring military draft has begun in Russia, with plans to enlist 160,000 conscripts—many of whom are reportedly signing contracts to be sent as "cannon fodder" to Ukraine. In light of enormous losses in the war with Ukraine, the Russian army leadership has planned to draft 160,000 conscripts aged 18 to 30 during the current enlistment period, running from April 1 to July 15. This marks a record number since the invasion began. According to The Moscow Times, law enforcement officers, …
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Russian coal export crisis: Economic decline and social instability loom
The Russian economy is facing a rapid decline, as coal exports—one of the last pillars of the Kremlin's natural resource budget—plummeted by tens of percent in March. The economic collapse in Russia's coal industry is becoming increasingly apparent, with statistics from March revealing the catastrophic scale of the export drop. According to the Institute of Energy and Finance, coal shipments via major ports have significantly decreased, down 30% at Ust-Luga and 21% at Nakhodka and Vostochny …
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Russian tank fleet dwindles as production and repair lag
Russia is grappling with a significant problem on the front lines as Ukraine claims a crucial victory in the ongoing conflict. The Ukrainian military has reportedly decimated nearly the entire Russian tank fleet over the past three years, leading to severe challenges for the Russian armed forces. The Russian army is experiencing a dire shortage of military equipment, as its tank reserves are dwindling, and the pace of production and repair efforts can't keep up with battlefield losses. This …
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Cypriot authorities and FBI team up for new investigations into Russian sanctions evasion
Cypriot police are set to initiate new probes targeting Russian nationals for alleged evasion of U.S. and EU sanctions, with pivotal support from the U.S. Federal Bureau of Investigation (FBI). A specialized task force, including FBI experts, recently wrapped up a nine-month assignment on the Mediterranean island. Their collaborative efforts with Cypriot police and government agencies led to the identification of Russian nationals and other offenders defying sanctions imposed by the U.S. and …
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Russian defence ministry claims 59 Ukrainian drones intercepted and destroyed overnight
In a recent update, the Russian Defence Ministry claimed the destruction and interception of 59 Ukrainian drones overnight on Sunday, March 23. The drones were allegedly shot down over several regions, including Rostov, Astrakhan, Voronezh, Volgograd, Kursk, the Saratov regions, and the occupied Crimea.
Artem Korenyako, the spokesperson for Rosaviatsiya, announced on Telegram the temporary closure of airports in Volgograd and Saratov.
Meanwhile, Acting Governor of the Rostov Region Yuri …
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Syria demands extradition of Assad as preconditions for Russian military base access
New Syrian leader Ahmed al-Sharaa has demanded that the Kremlin extradite former Syrian President Bashar al-Assad, who sought asylum in Russia. According to Al Arabiya, Sharaa, who assumed power after Assad's regime was toppled in December 2024, is insisting that the former leader be brought before Syrian justice. Assad fled to Russia amidst a swift offensive by rebel forces and remains under Moscow’s protection.
Earlier, on March 20, Russian President Vladimir Putin sent a message to Al- …
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Finnish President Stubb: Russia reluctant to agree to ceasefire in Ukraine
In a blunt assessment, Finnish President Alexander Stubb laid bare the situation: Kyiv seeks peace and a ceasefire, but Moscow does not. Russia is playing the long game in Ukraine, with no desire for a ceasefire or peace, said Stubb following a "coalition of the willing" conference organized by the UK.
"Putin is not striving for a truce, a ceasefire, or peace. His primary goal—destroying Ukraine's independence, sovereignty, and territorial integrity—remains unchanged. Hopefully, we can …
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Ukraine launches largest drone strike on Russia, multiple casualties and widespread damage reported
Ukraine has launched the largest drone attack on Russian territory since the war began, with Russia's Ministry of Defense reporting the interception of 337 Ukrainian drones in various regions of the country. The attack coincided with negotiations between Ukrainian and U.S. representatives in Saudi Arabia.
The main target was Russia's capital region, with 91 drones shot down over the Moscow area, according to Russia's Defense Ministry. The attack in the Moscow Region resulted in 20 injuries and …