High shipping costs have created a $1 billion loophole for Russia to evade oil price cap, report says

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Putin oil
Russia's Prime Minister Vladimir Putin (R) visits the Novokuibyshevsk oil refinery near the city of Samara, Russia.

Reuters/RIA Novosti

Russia's central bank bids to prop up the plummeting ruble by hiking interest rates to 12% at an emergency meeting

Tech Insider : Economy
russia central bank
The Bank of Russia raised interest rates to 12% Tuesday, in a bid to prop up the plunging ruble.

Hank5/Getty Images

Russian oil smashes through the G7 price cap as crude exports in July hit the highest level of 2023

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Oil terminal ship in Russia

papa1266/Getty Images

Russia's economy takes a hit as its current-account surplus crashes 85% compared to last year

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putin
Russia's President Vladimir Putin (L) meets with Foreign Minister Sergei Lavrov at the Bocharov Ruchei state residence in Sochi, March 10, 2014.

REUTERS/Alexei Nikolskyi/RIA Novosti/Kremlin

Russia's bitcoin-mining industry is booming through war and sanctions

Tech Insider : Crypto
Moscow Russia daily life
People walk along closed empty Red Square with the Kremlin Wall in the background in Moscow, Russia, Tuesday, June 27, 2023. Life has returned to normal in the Russian capital after the abortive coup mounted by mercenary chief Yevgeny Prigozhin.

(AP Photo/Alexander Zemlianichenko)

How Russia's war has reshaped Ukraine's economy

Tech Insider : Economy
Ukraine M142 HIMARS Bakhmut
Ukrainian troops fire M142 HIMARS rockets toward Bakhmut on May 18, 2023.

Serhii Mykhalchuk/Global Images Ukraine via Getty Images

Ukraine's NATO membership would be bad for Putin, but great for the Russian economy, professor says

Tech Insider : Economy
Russian President Vladimir Putin.
Russian President Vladimir Putin.

GAVRIIL GRIGOROV/SPUTNIK/AFP via Getty Images

Russia's economy is being propped up by Wagner Group's gold-smuggling operations, UK government report says

Tech Insider : Economy
Russia's President Vladimir Putin and Wagner Group boss Yevgeny Prigozhin.
Russia's President Vladimir Putin and Wagner Group boss Yevgeny Prigozhin.

GAVRIIL GRIGOROV/SPUTNIK/AFP via Getty Images; Mikhail Svetlov/Getty Images

Russian inflation is raging at 60%, not the reported 3.6%, thanks to the ruble's 'freefall', top economist Steve Hanke says

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Russian President Vladimir Putin sitting in a chair in front of a Russian flag.
Russian President Vladimir Putin in Moscow, Russia on March 30, 2023.

Gavriil Grigorov/Sputnik, Kremlin Pool Photo via AP

Russia-China ties deepen as Beijing buys a record amount of oil from the warring nation in the first half of 2023

Tech Insider : Politics
Russian President Vladimir Putin and Chinese President Xi Jinping attend a welcome ceremony before Russia - China talks in narrow format at the Kremlin in Moscow, Russia March 21, 2023
Russian President Vladimir Putin and Chinese President Xi Jinping attend a welcome ceremony before Russia - China talks in narrow format at the Kremlin in Moscow, Russia March 21, 2023

Sputnik/Sergei Karpukhin/Pool via REUTERS

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