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Russia's economy News

29 Oct 2015

Russia no longer a superpower: US

Russia is no longer a superpower as its deteriorating economy is ranked "somewhere behind Spain", the White House today said and stressed that Moscow's influence is limited compared to the erstwhile Soviet Union.

interest rate cut

30 Jan 2015

Russia's central bank makes surprise interest rate cut

The announcement to slash its key interest rate to 15 percent from 17 percent marked the first cut since December 2011.

18 Dec 2014

Putin promises economic recovery, digs in on Ukraine

President Vladimir Putin on Thursday tried to quell fears of economic collapse and vowed rapid recovery from the worst financial crisis of his rule but stressed that his position on Ukraine has not shifted.

09 Dec 2014

World Bank lowers Russia's economic forecast as ruble falls

The World Bank announced a gloomier economic forecast for Russia on Tuesday as the ruble fell despite the central bank saying it had spent billions last week to prop it up.

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