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Russia's current crisis extends beyond its declining food production, marking the first drop in 15 years, into broader socio-economic challenges. The degradation in the Russian political landscape underscores escalating economic issues, with significant deterioration in domestic production, evident more starkly in the occupied territories of Ukraine, where water shortages and overall socio-economic instability persist. Compounded by political mismanagement, this crisis is affecting lives at both the national and regional levels, including ongoing debates about resolving these conflicts through international cooperation and the cessation of aggression against Ukraine. Globally, stakeholders are seeking measures to alleviate the economic slump and address these multifaceted crises effectively.
What is the current economic situation in Russia?
Russia is facing a difficult economic situation characterized by reduced industrial output and a drop in food production not seen in 15 years. Factors contributing to this include political mismanagement and international sanctions. The economic crisis has far-reaching effects not only domestically but also influences regional stability in areas like Ukraine's occupied territories, where essential services are severely impacted.
How is the crisis impacting Russian-occupied areas in Ukraine?
In Russian-occupied areas such as Donbas in Ukraine, the crisis has exacerbated critical living conditions. Water shortages are rampant, forcing residents to obtain water from contaminated sources like puddles. Socio-economic instability has taken a heavy toll on the local population, significantly affected by the ongoing turmoil and insufficient infrastructure investment.
What actions are global leaders suggesting to resolve the crisis?
World leaders are advocating for a cessation of hostilities and a resumption of Ukrainian exports as primary measures to tackle the crisis. Notably, Secretary General Jens Stoltenberg and other leaders have emphasized that stopping Russian aggression could significantly alleviate the emerging food crisis and restore some regional stability.
How does the crisis affect global markets?
The crisis in Russia impacts global markets by destabilizing economic expectations and causing volatility in commodities such as oil and food. The sanctions and responses to Russian political decisions have led to global market adjustments, affecting prices and availability, and highlighting the interconnected nature of global economic systems.
What historical context is relevant to the current Russian economic crisis?
The present economic conditions in Russia hark back to a history of planned economy periods and centralized management that reached critical inefficiencies during political upheavals. This background informs the current systemic weaknesses, exacerbated by present-day sanctions and international political isolation, reiterating the importance of reforms for long-term stability.
What is the role of sanctions in the current crisis?
Sanctions play a critical role in Russia's current crisis by limiting access to foreign investment and resources, thereby exacerbating existing economic weaknesses and reducing growth prospects. These sanctions are a response to Russia's international policies and have been effective in causing substantial economic contraction and policy reevaluation.
How are local populations in Russia dealing with crisis effects?
Local populations in Russia are facing harder living conditions due to rising prices, falling real wages, and a general decrease in available services and goods. This situation has led to widespread dissatisfaction and underscores the urgent need for effective governmental response and socioeconomic reforms to improve living conditions and promote stability.
News crisis
European intelligence agencies have warned of risk of banking crisis in Russia as early as 2026, - Reuters The risk of a major banking crisis in Russia is growing, and one could unfold as early as 2026. This is the conclusion reached by the intelligence service of one European country, which prepared an analytical report for European officials ahead of the adoption of a new package of sanctions... 2 461 11 Previously in trend: State of Russian economy
How Ukrainian Armed Forces’ long-range attacks caused panic in Russia – WP Ukraine’s long-range strikes on targets deep within Russia have had serious economic and energy-related consequences for the aggressor state. 5 585 17 Previously in trend: Attacks on Crimea Strikes on Russian logistics Striking Russia Strikes on Russia’s oil ports Strikes on Russian energy system
Z-military correspondent urged Russians to stock up: "Country’s going to be in deep sh#t. No diesel, and planting season is f#cked. Let’s stock up on salt, matches, and canned meat. Let’s get ready for fall". VIDEO One of the Russian Z-"war correspondents" recorded a hysterical video message in which he urged Russian citizens to urgently stock up on essential goods and prepare for the worst-case scenario as early as this autumn. 11 709 58 Previously in trend: Striking Russia Fuel shortage
EU braces for prolonged fuel shortages due to Gulf conflict, urges remote work The European Commission has urged people to work from home due to the energy crisis amid the conflict in the Persian Gulf. 1 765 16 Previously in trend: Gas Prices US strikes on Iran Energy crisis in Europe
Food production in Russia has fallen for first time in 15 years, - Forbes According to Forbes, in 2025, Russia recorded a decline in food production for the first time since 2009. 1 774 14 Previously in trend: State of Russian economy
Donbas without water: elderly woman scoops it from puddle. VIDEO A critical situation with water supply has developed in the Central City District of Makiivka, in Russian-occupied Donetsk region. 6 327 53
Kremlin blogger on economic and political situation in Russia: "Russia is dying and it is not Khokhols, Banderovites or Americans who are destroying it". VIDEO The economic situation in the Russian Federation is critical, and the politicians of the current Russian government are leading the country to decline and complete degradation. 16 918 57 Previously in trend: Economic pressure on Russia State of Russian economy
Socio-economic crisis in occupied territories of southern Ukraine is gaining new dimensions - National Resistance Centre The humanitarian crisis in the social and economic spheres is escalating in the occupied part of the Zaporizhzhia region. 3 970 15
Zelenskyy: Punishing Russia for its terror is a historic task for modern generation of world leaders Overcoming Russian aggression and punishing Russia for terror is a historic task for modern generation of world leaders. And world will accomplish this task. 2 126 25
Erdogan expects to quickly solve problem of Ukrainian grain exports Turkish President Recep Tayyip Erdogan, in a telephone conversation with French President Emmanuel Macron, expressed hope for the speedy implementation of a plan to export Ukrainian grain, which will help solve the problem of global food security. 5 113 53
Best way to reduce food crisis is to force Russia to stop aggression against Ukraine, - Stoltenberg The main source of the food crisis and global rising food prices is Russia's aggression against Ukraine, so the best way to solve the problem will be found if Russia stops the war against Ukraine and unblocks maritime transport routes. 1 505 11 Previously in trend: War
Kuleba on global food crisis: Demand that Moscow end blockade of Ukrainian exports The Ukrainian side calls on Moscow to demand an end to the military blockade of Ukrainian food exports. 1 993 9 Previously in trend: War
Lithuania calls for naval coalition to unblock Ukraine's ports Ukraine's allies need to form a naval coalition to help lift Russia's blockade of Black Sea ports. This will prevent the onset of the food crisis. 5 694 23
Russia is trying to provoke a global price crisis for chaos on all major markets - Zelensky Sufficient exports of Ukrainian products to European and global markets will be a powerful anti-crisis tool. 3 816 11 Previously in trend: War
Lviv city council to gather for extraordinary session today to decide on garbage disposal Lviv Mayor Andrii Sadovyi says the situation with the garbage disposal in the city critical and might cause an environmental emergency. The city council is gathering for an extraordinary meeting on Thursday. 12 827 121
Germany’s Steinmeier concerned by recent developments in EU German Foreign Minister Frank-Walter Steinmeier expressed concern over the situation in the European Union. 3 888 16
"We are probably looking at global recession with no end in sight," - Nobel Prize winner on Trump's victory Nobel Prize winner in economics Paul Krugman expects negative impact on global economy following Donald Trump's victory in the U.S. presidential race. 71 715 103 Previously in trend: President Trump
We are close to establishment of new coalition and new government, - Poroshenko President of Ukraine Petro Poroshenko is optimistic regarding the resolution of the political crisis in the country. 35 679 322 Previously in trend: Hroisman's Cabinet
Personal incomes plummeting in Russia, - Deputy Prime Minister Golodets Russia faces sharp drop in household incomes. 63 588 308
"Three weeks of consultations give no reason for good news," - Hroisman on political crisis Verkhovna Rada Chairman Volodymyr Hroisman believes that the coalition should urgently find a way out of the current political crisis. 26 677 134
Hroisman and Mogherini discussed Minsk agreements implementation and solutions to political crisis in Ukraine EU High Representative for Foreign Affairs and Security Policy Federica Mogherini and Verkhovna Rada Chairman Volodymyr Hroisman discussed the importance of comprehensive implementation of the Minsk agreements, urgent overcoming of the political crisis in Ukraine, and the continuation of reforms at a meeting in Brussels on Wednesday. 5 381 24
Poroshenko Bloc believes new government needs new parliamentary coalition, - MP Lutsenko Next week, the leaders of the democratic parliamentary factions have to start negotiations about the creation of a new coalition which will work with a new government. 21 456 130 Previously in trend: Hroisman's Cabinet
Russia's government mulls five percent cut in defense procurement spending: sources, - Reuters Russia's government is considering cutting spending on defense procurement this year by 5 percent, a move that would extend the budget squeeze to a sector that up to now has been immune from real cuts. 4 983 32 Previously in trend: Economic disaster
Yatseniuk deems political crisis chance to eradicate corruption and political influence Prime Minister Arsenii Yatseniuk believes that the current political crisis is a chance to get rid of corruption and political influence. 4 791 108 Previously in trend: Hroisman's Cabinet
Collapse of Schengen Area may cost its members up to €18 billion, - European Commission The European Commission, in light of the growing migration crisis in Europe, warned the European Union countries about the risk of significant losses in the case of introduction of comprehensive border control and abolition of the Schengen Agreement. 5 068 28
Foreigners abandon Russian assets, - Bloomberg International investors are exiting their investments in some of the most liquid Russian companies as soaring volatility in the country’s stocks and currency push them to turn to less risky assets. 16 372 45
Ukraine passed bottom, its economy to start recovering though being far from sustained stability, - WB Country Director for Ukraine World Bank Country Director for Ukraine, Belarus, and Moldova Qimiao Fan told about prospects of the Ukrainian economy, potential risks, and positive factors. 22 702 92
Ruble sets new anti-record: dollar traded at 85 rubles, euro at 93 The current rate of the U.S. dollar against Russian ruble is the highest since Russian currency denomination in 1997-1998, while euro beats record highs of December 2014. 78 918 423
Bloomberg analysts gave Putin poor grades assessing his management of economy in crisis Bloomberg invited economists to assess management of the Russian economy in crisis by President Vladimir Putin, Prime Minister Dmitry Medvedev, government, Finance Ministry and central bank. 22 817 100 Previously in trend: Sanctions against Russia Economic disaster
Putin advised Russian government to prepare for lengthy sanctions and be "more efficient" Russian President Vladimir Putin urged the government to get accustomed to the fact that the period of low raw material prices as well as external restrictions may linger on. 30 250 127 Previously in trend: Sanctions against Russia Economic disaster
Russian energy sector comes to standstill following US and EU sanctions tightening, - The Washington Post The major Russian projects that were to deliver oil and natural gas to customers in China, Turkey and Germany have stalled a year and a half after the United States and its European allies imposed economic sanctions on Russia’s energy sector. 68 237 165 Previously in trend: Sanctions against Russia Economic disaster
72% Russians suffer economic crisis, - poll According to the Public Opinion foundation, the number of Russians talking of an economic crisis in their country has reached 72% compared to 68% in August. 34 709 308 Previously in trend: Economic disaster
Macedonia to erect wired fence on border to control migrant flow On Thursday, the Macedonian army started preparations to erect a barbed wire fence on the southern border with the neighboring Greece to prevent illegal migration on its territory. 6 216 32
Ukraine's economy dropped 2.4-fold deeper than envisioned by state budget, - Accounting Chamber of Ukraine The drop in Ukraine's real gross domestic product in January-September 2015 by 2.4 times exceeds the planned target of this year's state budget. 12 519 87
Russia faces demographic disaster, U.S. billionaire investor says Putin's efforts to reclaim Russian-speaking territories might be fueled by a looming demographic disaster. 195 0
Russian involvement in Syria complicates the conflict The crisis in Syria is becoming "more complicated" by Russian involvement in tackling Islamic State 16 085 125
Russia's industrial production contracted by 4.7 per cent last month, - Financial Times Industrial production in Russia contracted by 4.7 per cent in July, according to figures released on Monday. 27 668 352 Previously in trend: Economic disaster
Ukraine's economy slumped by almost 15 percent in Q22015 - State Statistics Service According to latest data, the real gross domestic product shrunk by 14.7 percent in April-June 2015 compared to the same period in 2014 (in comparable prices of 2010). 21 278 277
Russia to lose $34 billion, should Iran regain its oil share, - World Bank Iran's return to oil market will cost the Russian economy $34 billion, while the OPEC states might face a $22 billion loss. 55 329 464 Previously in trend: Economic disaster
Russians named most ineffective workers in Europe According to experts of the Organization for Economic Cooperation and Development (OECD), one of the reasons for decline of the Russian economy is a low labor productivity. 93 360 1 096 Previously in trend: Economic disaster
Turkmenistan declared Gazprom insolvent with no payments received for six months Russia has not paid for the Turkmen gas since the beginning of the year. In response, Turkmenistan announced that due to the global economic crisis Gazprom is considered insolvent. 149 630 776 Previously in trend: Economic disaster
Assests of VTB Bank and Putin's propagansits Russia Today and TASS arrested in France VTB Head Andrey Kostin announced the arrest of Russian accounts, including state ones, in a subsidiary of the state bank. 121 974 504 Previously in trend: Economic disaster
Recession is expected in Russia in 2015, followed by a mild recovery in 2016, IMF says Last month, the IMF predicted that the economy of Russia would contract by 3.8 percent this year and by 1.1 percent in 2016. This Thursday, the International Monetary Fund announced a less pessimistic forecast for Russia's economy, predicting no more than 3.4 percent contraction in 2015 and emergence from recession in 2016. 99 012 584 Previously in trend: Economic disaster
Russian economy has substantially deteriorated - White House Falling oil prices and sanctions of the West are the main reasons for the deterioration of the Russian economy. Only the full implementation of the Minsk agreements can lead to lifting sanctions from the Russian Federation. 107 423 669 Previously in trend: Sanctions against Russia Economic disaster
Sanctions inflicted damage worth of 25 billion euros to the Russian Federation. It can grow by several times in 2015 - Russian PM The damage inflicted to the Russian economy by the sanctions could grow by several times in 2015. 78 227 479 Previously in trend: Sanctions against Russia Economic disaster
The only way out of major economic problems is through fundamental reforms, Jaresko says Head of the Ukrainian Ministry of Finance Natalie Jaresko told about factors that caused the economic crisis in Ukraine. 70 981 556
Malls in Moscow stand empty turning into ghost towns - The New York Times The New York Times takes as an example the brand-new Moscow's Avia Park mall, largest than any Europe's one. Row after row, storefronts are vacant. On a recent evening, a handful of visitors meandered past shops that have opened, like American Eagle Outfitters, Adidas and H&M, but purchases are relatively rare. With no customers to serve, a chef at a Sbarro restaurant passed the time honing a knife. 150 060 588 Previously in trend: Economic disaster
Gazprom curbs its presence in Europe, sources say Gazprom put up its 10.5% stake in the German gas distributor Verbundnetz Gas (VNG) for sale, as part of a new strategy to wrap up its presence in Europe, three industry sources confirm. 151 519 512 Previously in trend: Economic disaster
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