Russia News

EU Sanctions: What’s next?

The main innovation of the 11th package of EU sanctions was the consolidation of the practice of secondary sanctions, which demonstrates Europe's alignment with the sanctions path established by the United States. Ekaterina Arapova, Director of the Center for the Sanctions Policy Expertise of MGIMO, discussed the impact of the new package of EU sanctions…
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Trends in Import Substitution for Russian Industry

HSE presented research data on current trends in import substitution for industrial enterprises. According to the study, the level of dependence on foreign components remains quite high. The least problems with equipment are experienced by oil and gas companies, while the greatest challenges are faced by coal mining organizations and companies providing services in the…
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«IMDS-2023» Will Take Place In Kronstadt

  The 11th International Maritime Defense Show «IMDS-2023» will be held at the Congress and Exhibition Center of the Museum-Historical Park «Kronstadt» on June 21st - June 25th, 2023. The event is organized by the Ministry of Industry and Trade of Russia   The International Maritime Defense Show «IMDS» is one of the leading global…
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Shadow on the Water

Due to the Western sanctions imposed on Russian oil exports, Russia resorted to various schemes in order to bypass the restrictions. One such scheme involved the establishment of a so-called shadow fleet, which involved tankers delivering Russian oil in defiance of the sanctions. The ports of numerous European countries serve as destinations for these vessels,…
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Russian Goods Keep Flowing to the West

  Despite unprecedented sanctions and reduced trade relations between Russia and the West, the latter continues to import a wide range of Russian goods.   The Russian Federal Customs Service (FCS) reports that in 2022, Russian companies increased their supply of goods and services abroad by almost 20%. Although trade geography has shifted towards "friendly"…
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How Sanctions Stall Russian Economic Development

Despite being hit with a high volume of sanctions after February 24, 2022, Russia's economy has held up relatively well during more than a year of military conflict. However, some experts are questioning the effectiveness of these sanctions. Alexandra Prokopenko, an expert on Russian economic policy, suggests that instead of focusing on the quantity of…
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Companies Left, But Not For Long

After more than a year of the Russian military campaign in Ukraine, foreign companies are much less eager to leave the Russian market than it was announced. If the «exodus» was quite active in the first months of the conflict, then it stalled. In addition, some companies began to cautiously return to the market. One…
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Russian IT Companies are not Being Served

Foreign banks stopped servicing Russian IT companies that have been sanctioned by Ukraine. This includes even banks in "friendly" countries (those that refused to impose sanctions on Russia after its military campaign in Ukraine) that are trying to minimize their risks of being subjected to secondary sanctions.   A source from one of the companies…
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The Russian IT Growths due to Import Substitution

By the end of 2022, the Russian IT industry managed to increase turnover and profit, surpassing the average indicators for the economy as a whole. Previously, a significant decline in the industry was predicted due to sanctions and the departure of foreign companies. The main driver of growth was government spending related to import substitution.…
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HSE Showed how Russia is Adapting to Sanctions

Russian Higher School of Economics (HSE) has published a study entitled «Adapting Russian Industrial Enterprises to Sanctions: Initial Steps and Expectations», which surveyed representatives of 1860 companies in the processing industries of Russia. The survey demonstrated a mixed impact of sanctions: despite the fact that advanced companies with a high share of imports suffered the…
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