ExplainerEconomy
Russia's regional economy: Moscow, resources and uneven growth
Regional output, household income and public finances measure different dimensions of Russia's economic geography.
History and reference
Russia economy archive and historical analysis
Explore historical reporting and long-term reference articles on Russia's economy. This collection follows changes in economic policy, the ruble, public finances, energy markets and international trade across different periods. Read major crises alongside the institutions and decisions that shaped the response, then use the site's datasets and timeline to place individual figures in a broader historical context.
ExplainerBanking
Russia's housing and mortgage market: subsidies, rates and construction
New Family Mortgage terms and the mix of subsidized lending explain why one average rate cannot describe the housing market.
ExplainerRuble
Russia's capital controls: currency rules and what changed
Export proceeds, bank transfers, banknotes and investor accounts follow separate rules and effective dates.
ExplainerBudget
Russia's tax system: the 2025 reform and the 2026 VAT change
Tax bases, government allocations and payment timing explain more than a list of headline rates.
ExplainerEnergy
Russia's gas exports: pipelines, LNG and the shift away from Europe
Gas can reach a new market only through operating infrastructure, suitable contracts and commercially workable routes.
ExplainerEnergy
Russia's oil price cap and the Urals discount explained
The legal cap, the market discount and the tax reference describe different prices, with different implications for revenue.
ExplainerBusiness
Russian industry: manufacturing, defense output and import substitution
Russia's factories face very different demand and financing conditions. Rosstat's production data, civilian output and government targets answer different questions about industrial capacity.
ExplainerTrade & Sanctions
What Russia exports: energy, metals, grain and fertilizer
Energy remains central to Russia's export earnings, alongside metals, food and chemicals. Understanding the mix requires separating prices from quantities and customs from external accounts.
ExplainerEconomy
Russia's labor market: low unemployment, labor shortages and wages
Russia's low unemployment rate can coexist with industrial weakness and uneven living standards. The explanation lies in labor supply, state demand and the limits of the headline measure.
ExplainerMarkets
Russian government bonds (OFZ): how the state borrows at home
Russia's domestic government bonds finance deficits and refinance maturing debt. Their pricing also shows how interest rates and fiscal policy meet.
ExplainerMarkets
The Moscow Exchange explained: markets, settlement and investor access
The Moscow Exchange connects trading with clearing and custody, while sanctions and different account rules make access depend on more than a quoted market price.
ExplainerRuble
The digital ruble explained: what launched and how the rollout works
Broader digital-ruble access began in September 2026, but the legal timetable, voluntary use and later bank and retailer deadlines remain separate questions.
ExplainerBanking
Mir cards and the Faster Payments System: how payments work in Russia
Mir, the Faster Payments System and SPFS perform different jobs, which explains how domestic payments continued after international card networks suspended operations.
ExplainerBanking
Russia's banking system: major lenders, deposits and financial risks
Russia's banks connect household savings, corporate borrowing and state finance, while concentrated ownership and restricted international access shape the risks.
ExplainerEconomy
Russia's economic crises: 1998, 2008, 2014, 2020 and 2022 compared
Russia's major shocks differed in origin, financing conditions and policy response; annual data reveal their timing but do not make them equivalent.
ExplainerBudget
Russia's National Wealth Fund: total assets, liquid reserves and uses
The fund's headline size is not a cash balance; liquidity, valuation and the rules for using assets determine how much fiscal support it can provide.
ExplainerTrade & Sanctions
Russia and China: trade, energy and payments explained
China is an important buyer and supplier for Russia, but trade totals, energy routes and settlement currencies reveal different kinds of dependence.
ExplainerTrade & Sanctions
How sanctions have affected Russia's economy
Sanctions restrict particular financial, trade and technology channels; judging their effects requires separating legal measures, adaptation costs and uncertain counterfactuals.