The Vienna Institute for International Economic Studies found Russia’s growth has slumped due to sky-high interest rates.

Russia’s top economic envoy has arrived in the United States for “official” talks just days after President Donald Trump announced tough new sanctions on Russia, sources with knowledge of the visit have told CNN.

The European Union on Thursday heaped more economic sanctions on Russia, adding to U.S. President Donald Trump’s new punitive measures the previous day against the Russian oil industry. Russian President Vladimir Putin called Washington's move an “unfriendly act” that could backfire by spiking global oil prices.

Russia's new wave of tax hikes, designed to mobilise state finances as the war in Ukraine grinds on, is set to hit one in 10 small business owners, many of whom say they will have no choice but to shut down or move into the shadow economy.

Roughly a third of small business owners said they may have to move into the informal economy and stop paying tax altogether.

She worked at Russia’s central bank until early 2022. To sustain its war against Ukraine, Russia militarized its economy. Although—contrary to popular belief abroad—the Russian economy is not on a full wartime footing,

The Kremlin on Wednesday pushed back at U.S. President Donald Trump's warning that the Russian economy was going to collapse, saying that Russia had considerable reserves and was strong enough to allow President Vladimir Putin to achieve his goals.

After years of insulation from the effects of Vladimir Putin’s war, Russia’s economy is finally starting to take a hit.

The President of the European Commission, Ursula von der Leyen said EU agreed to adopt the "wide ranging and extensive sanction package that will hits at the heart of the Russian war economy".