Russia's economy pivots east with 87% of trade now with non-Western countries up from 40% five years ago as businesses adapt transport, logistics and finance systems, Deputy PM Overchuk states.

Russian gasoline becomes 8% more expensive than US fuel as Moscow takes 60% of pump prices in taxes and levies.

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Russia's Finance Ministry proposes raising VAT from 20% to 22% to fund the war in Ukraine. State TV ...

Russia's central bank reports shrinking GDP, signaling a potential recession despite denying it. Be...

Putin admits Russia's central bank struggles to lower interest rates amid economic slowdown. High i...

Russia's economy shows "technical stagnation," with near-zero growth in July & August, warns Sberban...

Investing.com -- Sberbank CEO German Gref warned Thursday that Russia’s economy is stagnating and could fall into recession unless the central bank makes deeper interest rate cuts. Despite Russia’s war economy growing at 4.1% in 2023 and 4.3% in 2024 - outpacing G7 countries even under Western sanctions imposed after the Ukraine invasion - Gref described the second quarter as showing signs of "technical stagnation." The central bank has already reduced rates to 18% after cuts in June and July, but Gref, who previously served as economy minister, suggested the anticipated reduction to 14% by year-end would be insufficient. He argued rates would need to drop to 12% for economic recovery. "It is important to move out of this period of controlled cooling of the economy so that it does not turn into stagnation, because reviving the economy will be much more difficult than cooling it down," Gref said. The banker noted that data collected from banks, which arrives faster than official government statistics, revealed a sharp economic slowdown with growth approaching zero in July and August. His comments join a series of warnings from senior Russian officials about the economy struggling under high credit costs despite sanctions. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Which stocks should you consider in your very next trade? The best opportunities often hide in plain sight—buried among thousands of stocks you'd never have time to research individually. That's why smart investors use our Stock Screener with 50+ predefined screens and 160+ customizable filters to surface hidden gems instantly. For example, the Piotroski's Picks method averages 23% annual returns by focusing on financial strength, and you can get it as a standalone screen. Momentum Masters catches stocks gaining serious traction, while Blue-Chip Bargains finds undervalued giants. With screens for dividends, growth, value, and more, you'll discover opportunities others miss. Our current favorite screen is Under $10/share, which is great for discovering stocks trading under $10 with recent price momentum showing some very impressive returns!

By Guy Faulconbridge and Darya Korsunskaya MOSCOW (Reuters) -Russia sees economic growth in 2025 slowing to 1.5%, far below the earlier 2.5% forecast, as high interest rates imposed to reduce inflation have stifled borrowing, Finance Minister Anton Siluanov told President Vladimir Putin on Wednesday. Russia’s war economy grew robustly at 4.1% in 2023 and 4.3% in 2024, far faster than G7 countries, despite multiple rounds of Western sanctions imposed after its invasion of Ukraine in 2022, but it is slowing sharply this year. Economy Minister Maxim Reshetnikov warned in June that Russia was on the brink of slipping into recession unless monetary policy changed. Russia’s highest military spending since the Cold War has stoked inflation, which prompted the central bank to raise its key interest rate to 21% in October, the highest level since the early years of President Vladimir Putin’s rule in 2003. The central bank cut to 20% in June and then to 18% in July, but the economy is still shackled by the cost of credit and labour shortages, according to analysts. Siluanov told Putin that the Economy Ministry now saw growth of at least 1.5% this year. The official forecast for 2025 was 2.5%. "If this year we see rather tough conditions for the implementation of monetary and credit policy, we see that the rate of economic growth will nevertheless be no less than 1.5 percent this year, at least according to the assessment of the Economy Ministry," Siluanov said. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. "A balanced budget will give more opportunities to the central bank to soften monetary and credit policy, which means that credit resources will be more accessible." Reuters in January reported exclusively that Putin had grown increasingly concerned about distortions in Russia’s wartime economy, particularly with a cut to investment by major companies due to high interest rates. GROWTH OR STAGNATION? During Putin’s first two terms as president from 2000 to 2008, the size of Russia’s economy soared to $1.7 trillion from less than $200 billion in 1999. But Russia’s nominal GDP is now just $2.2 trillion, about the same level it was in 2013, the year before Russia annexed Crimea from Ukraine. "There are a lot of nuances in terms of ensuring economic growth," Putin told Siluanov and other key government ministers. He said there was a constant debate between the government, central bank and experts about the key interest rate and the situation in the economy. First Deputy Prime Minister Denis Manturov told Putin that manufacturing industry would grow about 3% - below an earlier forecast of 4.3% - and that industrial production would be about 2% - below an earlier forecast of 2.6%. Russian GDP grew by 1.1% in the second quarter of 2025 compared with 4.0% growth in the same period last year, federal statistics service Rosstat said earlier this month. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. With the economy slowing but Russia still spending vast sums on the war in Ukraine, Moscow will probably have to raise taxes and cut spending. Successful investors know to check multiple angles before making their move. InvestingPro's three powerful features work together to give you that edge: ProPicks AI runs 80+ stock-picking strategies, including Tech Titans, which doubled the S&P 500's performance in just 18 months! Fair Value combines 17 proven valuation models to help you spot overpriced stocks and undervalued gems. And WarrenAI delivers instant insights on any stock. Ask questions, get vetted answers backed by real-time data (unlike ChatGPT). Our subscribers use all three to identify stocks before double-digit gains and avoid costly mistakes. But with 50% during our Summer Sale, even if you only use one of these features the value pays for itself. Sale ends soon—don't wait until prices go back up.