Bank of Russia
Russian 2027 budget draft outlines war financing and worsening living standards
The draft federal budget of the russian federation for 2027 projects revenues at 43.3 trillion rubles and national defense expenditures at 17.1 trillion rubles. The document contains understated deficit and spending figures, indicating continued war…
Strikes on Oil Refineries Deliver Unexpected Blow to Russian Economy
The fuel crisis in Russia, triggered by Ukrainian strikes on oil refineries, has added 0.7 to 0.8 percentage points to the country’s overall inflation. Due to gasoline shortages, Moscow has begun covering domestic demand through imports.
