Journalist Tatiana Rybakova discusses with economist Nikolai Kulbaka the growing signs that Russian industry is running out of steam. Overall, all the previous drivers of economic growth have been exhausted, and negative factors are just beginning to have an effect.

In an interview with Republic, economist Konstantin Sonin explains what a recent report on the Russian economy – which argues that “Putinomics” can both keep the war going and ensure economic growth – gets wrong.

Economist Vladislav Inozemtsev says the Russian economy is slowing but remains skeptical of alarmist forecasts about Russia’s economic situation, which are multiplying following the latest Central Bank rate hikes.

Journalist Tatiana Rybakova argues that private business in Russia is increasingly under pressure, which threatens to undermine the market mechanisms essential to the stability of the entire Russian economy.

Economists Vladislav Inozemtsev and Borukh Taskin look at ballooning fiscal spending on subsidized mortgages and possible government measures to solve the problem.

Journalist Tatiana Rybakova discusses how the Kremlin, in search of ways to pay for rising defense expenditures, is extracting more and more money from its subjects, including new taxes, heavy fines and property seizures.

Economist Sergey Aleksashenko talks in an interview about the reasons for the stability of the Russian economy in war conditions, about the problems of inflation and labor shortages, and about economic relations with China

In an interview with journalist Tatiana Rybakova, energy expert Mikhail Krutikhin looks at the global oil market, explains why oil prices are trending lower and lays out his view that the Power of Siberia 2 project is all but over.

Recounting her own experience in the Russian bureaucracy, journalist Tatiana Rybakova explains why Russian officials love Putin’s national projects so much and why they fail.

Oil and gas market expert Mikhail Krutikhin says the lack of interest from China in the Power of Siberia 2 project rendered Putin’s recent visit to Mongolia largely meaningless.

Based on public statements by defense-sector officials and his own interviews, military expert Maxim Starchak concludes that the growing shortages of workers in the military-industrial complex are an insoluble problem.

August 9 marked 25 years since Vladimir Putin came to power in Russia, first as prime minister. Economist Sergey Vakulenko looks at the development of Russia’s economy under his rule.

Oil and gas expert Mikhail Krutikhin looks at the serious challenges created by Western sanctions for transporting Russian LNG and explains why the Kremlin’s plans to boost LNG exports to 100 million tons per year by 2030 will not materialize.

Journalist Tatiana Rybakova notes that the war with Ukraine has led to a reduction of inequality in Russia and looks at whether that will continue after the war ends.

Economist Igor Lipsits analyzes official statements claiming a healthy Russian economy and explains the hidden eddies in the steady flow of soothing governmental rhetoric.

Journalist Sergei Shelin poses a key question facing both the regime and ordinary Russians today: can the Russian economy simultaneously provide for the war and effectively respond to demand for goods and services amid the lavish fiscal stimulus and defense spending?

Economist Alexander Libman looks at the fundamental problems of the Russian economy and why Western sanctions are ineffective at exploiting them.

Journalist Tatiana Rybakova explains how the institution of property in Russia is collapsing before it ever fully crystallized. It is this fact, in her view, that drives the instability of the Russian economy and the country’s development as a whole.

Journalist Tatiana Rybakova explains how the Russian gas monopoly recorded its first financial loss since 1999 and why, in the current conditions, that was all but inevitable.

Economist and financier Andrei Movchan shares what was wrong with a recent Brookings Institution conference on Western sanctions against Russia. Experts and officials, he argues, are not owning up to the ineffectiveness of sanctions in helping Ukraine and stopping Russian aggression.

Economist Vladislav Inozemtsev analyzes Vladimir Putin’s recent visit to China, his first stop after being inaugurated. Despite the noise, Inozemtsev claims, the development of relations between Russia and China has now slowed, both in the economic and political spheres.

Journalist Tatiana Rybakova talks with economic experts about what is behind spikes in food prices in Russia and how officials’ measures to combat food inflation differ from those used in other countries.

Economist Vladislav Inozemtsev discusses the robustness of Putin’s economy, the contradiction between the generous remuneration for soldiers and the regime’s complete disregard for their lives, and the outlook for the war in Ukraine.

Economist Andrei Yakovlev argues that all the recent nationalizations represent the state’s new policy and forecasts that in the next 6-12 months companies whose main assets were gotten through the loans for shares scheme in the 1990s will be targeted.

Political scientist Nikolai Petrov explains why a plan to switch to domestic aircraft, adopted under pressure from Putin, turned out to be completely unrealistic. In reality, the fleet of planes in Russia continues to steadily decline due to problems with servicing leased Boeings and Airbuses that were seized by Russia.

Economist Nikolai Kulbaka explores what the recent terrorist attack in Moscow means for labor migration from Central Asia. Should we expect an exodus of migrants from Russia? Which industries are most vulnerable to an outflow of these workers?

Journalist Tatiana Rybakova wonders whether the goals announced by Putin in February – increasing the birth rate, boosting economic growth and reducing poverty – are compatible. Experts believe that the current measures will hardly increase fertility; rather, they will speed up the birth of already-planned children, while another “demographic hole” awaits.

Economist Vladislav Inozemtsev points out that the Kremlin’s economic policy is no longer guided by the priority of maintaining a balanced budget, which Putin had striven for since he came to power. Now, running a deficit is seen not only as acceptable, but beneficial for the country.

In an interview, economist Oleg Buklemishev talks about the state of the Russian economy, the impact of sanctions and why the current economic model is more stable than the Soviet one.

Journalist Tatiana Rybakova details how the list of Russia’s richest businesspeople has changed over the years and discusses with experts how the war in Ukraine is shaking things up, looking at factors like Western sanctions, a growing state and the militarization of the economy.

Based on survey data, sociologist Vladimir Zvonovsky looks at how Russians’ ideas about how their own material well-being have changed over the course of the special operation, considering such factors as age, occupation and place of residence.

Journalist Tatiana Rybakova talks with experts about how Western economic sanctions are working and which policy decisions, in the experts’ view, were right, which were wrong and which came late.

Economist Andrei Yakovlev looks at what could be motivating the series of cases involving the seizing of assets of several large Russian enterprises that has been launched by Russia’s Prosecutor General, and discusses the prospects for a transition to a mobilization economy.

Based on the latest data and news, economist Igor Lipsits analyzes the consequences for Russia’s economy due to the ramping-up of defense production, construction related to the conflict in Ukraine, Western sanctions and government policy priorities.

Journalist Tatiana Rybakova writes that ever increasing restrictions on the rights of Russians are forcing some to leave the country and others to give up on plans to expand their businesses, though overall the country remains stable.

Political scientist David Szakonyi writes that though the Kremlin may benefit from the Russian population's deep indebtedness in the short run, insolvent borrowers may become a serious long-term problem.

Journalist Sergei Shelin writes that the regime is trying to simultaneously increase defense spending and raise living standards. However, these two goals can be achieved only for a short while and only at the expense of economic rationality.

Energy researcher Irina Mironova writes that a Turkish gas hub where Russian natural gas can be traded is becoming a tangible reality, with the project’s launch planned for 2024. However, the primary purpose will not be to maintaining Russia’s gas exports to the West, but rather advancing Turkey’s longstanding aspirations for EU membership.

Food market researcher Andrey Sizov explains what the essence of the “grain deal” was, why, despite its cessation, exports of Ukrainian grain continue to move and how Russian government intervention is affecting the volume of grain supplies out of Russia.

Regional economist Natalia Zubarevich talks about where the Kremlin is getting the extra financial resources it needs, how the automotive industry is slowly transitioning to Chinese brands, how the balance between center and periphery is changing and why Russians’ enormous capacity to adapt has surprised her.

Journalist Tatiana Rybakova talks with economic experts about a new export duty, as well as a decree obliging exporters to sell their FX earnings. Will these measures boost the ruble and pad the budget? And how are they related to the upcoming presidential elections in 2024?

RFE/RL economic commentator Maxim Blant writes that, at the behest of the siloviki and contrary to the position of the government’s economic bloc, Russia is seeing a massive de-privatization across various sectors. The siloviki believe that they are thus carrying out the wishes of Putin.

Igor Lipsits summarizes the developments in the Russian economy in September and details how the government is trying to fight the fuel crisis, stabilize the ruble, extract RUB 500-700 billion from exporters needed to balance the budget, and cool off lending as Russians borrow more amid rising inflation expectation.

Yuri Danilov explains what factors have allowed the Russian economy to stay afloat and suggests that, despite the multitude of these factors, the likelihood of a crisis is rising.

Tatiana Rybakova writes about omissions and distortions in Russian official economic statistics and asks economists for their views on what problems this creates for analyzing the state of the economy.

Maxim Blant on how the government is trying to combat the depreciation of the ruble, what problems it is running into along the way, and how the authorities are dressing up the interests of the military-industrial complex as concern for the population.

Sergei Shelin writes that accelerating inflation and a weakening currency are normal for countries mired in long wars. Putin’s technocrats could one way or another cope with these problems if they were not prevented from doing so by the chaotic improvisations of Putin himself.

Tatyana Rybakova believes that the nationalization of Danone’s Russian subsidiary and the Baltika brewing company (owned by Carlsberg) indicates a new redistribution of property in Russia and the creation of a new moneyed elite.

Vladimir Milov claims that Western sanctions are severely hurting the Russian economy. The government is increasingly short on funds while lacking access to foreign investment. In addition, Russia cannot substitute the critically important Western technologies and equipment needed to develop its manufacturing capabilities.

Nikolai Kulbaka on how Russia’s budget deficit is planned to be addressed, whether to trust Russian official statistics and why nominal GDP growth does not mean a healthy national economy.

Tatyana Rybakova speaks to IT workers and an economist to explore why the Russian authorities suddenly started talking about Russians who left returning to their homeland en masse. When it comes to IT specialists, the rhetoric is clearly dominated by a conciliatory tone. Does Russia really need IT specialists so bad? And if so, can it get them back?

Vladimir Gimpelson, Professor of Practice in Russian Studies in the Department Agricultural and Applied Economics at the University of Wisconsin-Madison, discusses the state and prospects of the Russian labor market. From the second half of 2022 onward, the “demographic hole” has been overlaid by war losses, emigration, and structural changes directly related to the war.

Tatyana Rybakova writes about how Russians who remain in Russia but want to leave explain their decision and why they most often cite attachment to their homes.

Natalia Zubarevich talks about the labor shortage in Russia, the trends in labor migration within the country, how resource exports are being redirected to China, how compensation from the state is helping to get men to sign up, and how Russians, unable to change anything, are building barriers between themselves and the war.

Tatyana Rybakova writes that there are more and more beneficiaries and thus supporters of the war, because each of them – even if they do not support the war itself, even if they are against Putin – will lose money, a career or status when it ends.

Tatyana Rybakova writes about the rationale behind the Western sanctions against Russian oligarchs and explains how Russian business practices are working against the people who used them to become business leaders in Russia.

Tatyana Rybakova explains the essence of the dispute over mortgage lending between the Ministry of Construction and the Central Bank, as well as the influence of the largest developers.

Andrey Movchan discusses capital outflow from Russia, criticizes the Western sanctions against Russia and wonders why no European elites have been punished for their past business ties with Putin’s regime.

Igor Lipsits writes that after years of budget surpluses Russia again started running a budget deficit and is recklessly spending the National Wealth Fund. This is a disaster for Russia, as 60% of the population lives off the income itcreceives from the state.

Maxim Blant writes that even though Russians working remotely from abroad are technically contributing to the country’s GDP, they are also taking out enormous funds from the Russian economy and aggravating the contraction in consumer demand. State spending on the war might make up for that, but it seriously undermines financial stability.

Tatyana Rybakova explains why the Russian oligarchs do not resist Putin or the war: 20 years ago, when Putin’s power did not yet seem absolute, they were about to oppose him, but in the end backed down.