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2 mins read
The Kremlin could interpret the West's 'economic strangulation' of Russia as a declaration of war, sanctions expert says
Western sanctions imposed on Russia after it invaded Ukraine have helped to send the ruble to a rec…
Grace Dean
2 mins read
2 Russian billionaires resigned from the board of one of the country's biggest banking companies a day after the EU sanctioned them
Alfa-Bank's website says Mikhail Fridman and Petr Aven left its board in resignation applications d…
Grace Dean
1 min read
Ikea is massively scaling down its Russian operations, including selling its 4 factories in the country
"The circumstances have not improved ... We do not see that it is possible to resume operations any…
Grace Dean
3 mins read
Western sanctions are already disrupting Russia's economy, with the ruble slumping 30% and interest rates jumping to 20%. Here's what's happening and how the situation could play out.
Analysts at Rabobank believe the sanctions could prompt "perhaps the worst economic and financial c…
Grace Dean,Harry Robertson,Ja…
4 mins read
Here are the sanctions the US has levied against Russia thus far following Putin's announcement that it would move troops to eastern Ukraine
President Joe Biden announced a "first tranche" of sanctions on Tuesday after declaring that Russia…
Erin Snodgrass
1 min read
Russia owns $140 billion in Chinese bonds, which could help it skirt Western sanctions, analysts say
Russia's central bank and sovereign fund own about $140 billion in Chinese bonds, according to esti…
Grace Dean
2 mins read
Russia is still sliding towards a bond default in the coming weeks. It's up to the US Treasury whether it actually happens.
The Russian government narrowly avoided defaulting on its bonds this week, but its difficulties are…
Harry Robertson
1 min read
Ukraine has seized $420 million in assets belonging to a sanctioned Russian oligarch
The prosecutor general's office said that it had seized securities in Cypriot companies held at a b…
Grace Dean
2 mins read
The US justice official in charge of seizing Russian assets breaks down the capture of an oligarch's $90 million superyacht
The US was "in some ways lucky" the vessel was moored in Spain, the director of the inter-agency Kl…
Grace Dean
2 mins read
A sanctioned Russian oligarch's $65 million superyacht is on its way to Turkey
Oleg Deripaska's superyacht had previously been docked in the Maldives, which doesn't have an extra…
Grace Dean
3 mins read
Ukrainians and Russians are packing ATM lines, prompting fears of what happened in the US during the Great Depression
When Americans withdrew cash too quickly for banks during the Depression, it triggered unemployment…
Jason Lalljee
3 mins read
Who is Alisher Usmanov, the sanctioned Russian billionaire said to be one of Putin's 'favorite oligarchs'?
Alisher Usmanov is one of Russia's richest people and thought to be a close ally of Putin, but his …
Grace Dean
2 mins read
British law enforcement raided a Russian oligarch's mansion and seized £30,000 in cash as part of an investigation into possible sanctions violations, report says
The oligarch, Petr Aven, who's worth around $5.3 billion, has said previously he doesn't know "how …
Grace Dean
3 mins read
A Russian billionaire said he only found out he was sanctioned when he read it in the news while on vacation, days before his 50th birthday
Andrey Melnichenko's wealth has fallen by almost a third since he was sanctioned. He told Weltwoche…
Grace Dean
2 mins read
176 cops were sent to remove 4 protesters from a Russian oligarch's mansion at a cost of $100,000, report says
Protesters stormed Oleg Deripaska's mansion in March, saying they wanted to use the property to hou…
Grace Dean
1 min read
Putin's foreign minister says freezing Russia's currency reserves was 'thievery' and that the Kremlin didn't expect such harsh sanctions
Sergey Lavrov said nobody in the Kremlin predicted how fierce the sanctions on Russia's economy wou…
Sinéad Baker
2 mins read
McDonald's said it would close all its Russian restaurants – but some appear still open a week later
McDonald's CEO Chris Kempczinski said on March 8 that the burger chain would temporarily close its …
Grace Dean
3 mins read
A steel company says it has lost a third of its sales after its Russian oligarch owner was sanctioned
Alexei Mordashov, Russia's third-richest person, controls steel giant Severstal. The company said i…
Grace Dean
2 mins read
Russia's central bank hikes interest rates to 20% and buys gold as the ruble crashes to a record low following tough Western sanctions
The ruble crashed 30% to a record low after the West imposed tough new sanctions that could wreak h…
Harry Robertson
2 mins read
The IRS is helping sanction Russian oligarchs, but says it needs 1,300 more workers to fight 'complicated tax fraud and money laundering schemes'
Wealthy Russians are skilled at hiding their money. The underfunded, understaffed IRS says it's goi…