The Bell
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The Bell is the leading independent media covering Russia's economy. Founded in 2017 by a team of experienced editors, The Bell's experts write two newsletters per week with analysis of the most important economic news out of Russia: https://en.thebell.io/
“I think we’re heading toward a situation where, as soon as next year, no major platforms will remain accessible in Russia,” says cyber-lawyer Sarkis Darbinyan. The only exceptions will be services willing to comply with Russian law, meaning those prepared to cooperate with the security services.
December 9, 2025 at 6:10 PM
“I think we’re heading toward a situation where, as soon as next year, no major platforms will remain accessible in Russia,” says cyber-lawyer Sarkis Darbinyan. The only exceptions will be services willing to comply with Russian law, meaning those prepared to cooperate with the security services.
In early December, Russian authorities also blocked Roblox, the hugely popular gaming platform among children and teenagers. Of the company’s 151 million daily users, roughly 18 million were in Russia.
December 9, 2025 at 6:09 PM
In early December, Russian authorities also blocked Roblox, the hugely popular gaming platform among children and teenagers. Of the company’s 151 million daily users, roughly 18 million were in Russia.
But since last year, YouTube has been effectively unusable due to state-imposed “throttling.” And by late November, the crackdown finally reached the popular messaging app as well.
December 9, 2025 at 6:09 PM
But since last year, YouTube has been effectively unusable due to state-imposed “throttling.” And by late November, the crackdown finally reached the popular messaging app as well.
The Russian government’s war on the open internet has entered its final phase. When the Kremlin began blocking various websites in the mid-2010s, many assumed there were two services it would never touch: YouTube and WhatsApp.
December 9, 2025 at 6:09 PM
The Russian government’s war on the open internet has entered its final phase. When the Kremlin began blocking various websites in the mid-2010s, many assumed there were two services it would never touch: YouTube and WhatsApp.
It's already likely many major banks and companies will start avoiding transactions with Russian clients to reduce their own risk and avoid increasing compliance workloads. Cross-border trade operations will become more complicated and expensive, which will also affect the cost of importing goods.
December 8, 2025 at 2:03 PM
It's already likely many major banks and companies will start avoiding transactions with Russian clients to reduce their own risk and avoid increasing compliance workloads. Cross-border trade operations will become more complicated and expensive, which will also affect the cost of importing goods.
In a response to The Bell’s inquiry, the European Commission clarified that being added to the list does not mean a ban on financial transactions and will not automatically apply to Russians living outside Russia. However, financial institutions will apply enhanced compliance measures.
December 8, 2025 at 2:02 PM
In a response to The Bell’s inquiry, the European Commission clarified that being added to the list does not mean a ban on financial transactions and will not automatically apply to Russians living outside Russia. However, financial institutions will apply enhanced compliance measures.
On one side of the scale are billions of dollars in lost tax revenue. On the other is a major slice of the economy that affects prices, inflation, the labor market, and small businesses.
December 3, 2025 at 12:34 PM
On one side of the scale are billions of dollars in lost tax revenue. On the other is a major slice of the economy that affects prices, inflation, the labor market, and small businesses.
But the marketplaces enjoy strong lobbying support — they have people close to Vladimir Putin behind them.
For now, the score in this battle is 0:0, but sooner or later the government will have to pick a side and decide what matters more.
For now, the score in this battle is 0:0, but sooner or later the government will have to pick a side and decide what matters more.
December 3, 2025 at 12:34 PM
But the marketplaces enjoy strong lobbying support — they have people close to Vladimir Putin behind them.
For now, the score in this battle is 0:0, but sooner or later the government will have to pick a side and decide what matters more.
For now, the score in this battle is 0:0, but sooner or later the government will have to pick a side and decide what matters more.
Traditional banks — and their regulator — are furious and are demanding that marketplaces be banned from offering such discounts. According to calculations by Sber, Russia’s largest bank, marketplaces have supposedly underpaid 1.5 trillion rubles ($19.4 billion) in taxes because of these discounts.
December 3, 2025 at 12:33 PM
Traditional banks — and their regulator — are furious and are demanding that marketplaces be banned from offering such discounts. According to calculations by Sber, Russia’s largest bank, marketplaces have supposedly underpaid 1.5 trillion rubles ($19.4 billion) in taxes because of these discounts.
Marketplaces have become one of Russia’s national ideas and an important part of its economy.
It’s no surprise that marketplaces have developed big ambitions: the two largest platforms have even launched their own banks. Holders of the “right” cards are offered discounts at checkout.
It’s no surprise that marketplaces have developed big ambitions: the two largest platforms have even launched their own banks. Holders of the “right” cards are offered discounts at checkout.
December 3, 2025 at 12:33 PM
Marketplaces have become one of Russia’s national ideas and an important part of its economy.
It’s no surprise that marketplaces have developed big ambitions: the two largest platforms have even launched their own banks. Holders of the “right” cards are offered discounts at checkout.
It’s no surprise that marketplaces have developed big ambitions: the two largest platforms have even launched their own banks. Holders of the “right” cards are offered discounts at checkout.