Ukrainian President Zelenskyy spoke with US envoys Steve Witkoff and Jared Kushner about reviving diplomacy for peace. This comes as Ukraine expands attacks on Russia's civilian economy, targeting Wildberries warehouses in Krasnodar and Nevinnomyssk, causing casualties and disrupting logistics.
The Russian ruble has stabilized within a 75-85 rubles per US dollar range, contrary to many expectations, according to Andrey Gangan, Director of the Monetary Policy Department at the Bank of Russia. He noted that despite past economic shocks causing sharp fluctuations, the currency has maintained this established trading band over the past year and a half.
The Eurasian Development Bank (EDB) has revised its forecast for Russia's GDP growth, lowering it to 1% for 2026 from a previous 1.4%. Projections indicate a 1.5% growth in 2027, accelerating to 1.8% in 2028. The bank also anticipates the Russian Central Bank's key rate to reach 12% by end-2026.
G7 leaders pledged to intensify economic pressure on Russia through strengthened sanctions, particularly on oil and gas. They also committed to increasing air defense and long-range capabilities for Ukraine, signaling a united front to support Kyiv and accelerate peace efforts.
President Putin admitted Ukrainian strikes are causing damage to Russia's economy and society but insisted they won't succeed in dividing the nation or crippling its economy. He vowed to escalate attacks on Ukrainian infrastructure in response and improve air defenses.
President Vladimir Putin stated that the Russian economy is under control and measures taken by the government are yielding the planned results, with inflation decreasing. He highlighted actions related to the national currency rate and the key rate.
President Vladimir Putin stated that the Russian economy is "confidently returning to target indicators" with a 5.4% growth, dismissing rumors of major problems as "highly exaggerated" and urging assessment based on actual figures and trends.
Vladimir Putin stated that inflation growth is the primary challenge facing the Russian economy. He affirmed that the Central Bank and financial authorities are implementing stringent measures to control inflation and stabilize macroeconomic indicators.
Russian press reviews highlight escalating Middle East tensions, Moscow's response to intensified Ukrainian attacks, and potential US-Iran deal stages. Discussions also cover Nord Stream restoration, anti-Russian sanctions, and diplomatic conditions for dialogue.
Russia's economy has grown by over 10% in the last three years, significantly outpacing Europe's 3% growth, according to Maxim Oreshkin, deputy head of the Russian presidential administration. He also stated that Russia has the world's lowest unemployment rate, attributing growth to increased labor productivity.
Russian Economy Minister Maxim Reshetnikov stated that the country's near-term economic outlook is defined by a stronger ruble and higher interest rates. He made these remarks at the St. Petersburg International Economic Forum.
Elvira Nabiullina, head of Russia's Central Bank, uses thematic brooches as a communication tool to signal the regulator's view on the economy. First seen in March 2020, these brooches have sparked analyst discussions and interpretations.
A June 2026 report from an unnamed organization projects Russia's economy to grow by 0.8% in 2027, unchanged from previous forecasts. For 2026, government and central bank estimates range from 0.4% to 1.5%, with official forecasts revised down to 0.4% for 2026 and 1.4% for 2027.
Russian Economy Minister Maxim Reshetnikov stated that Russia's economy is successfully navigating challenges, with GDP growing over 10% in three years, falling inflation, and minimal unemployment. He also highlighted strengthening Russia-Brazil ties.
The article outlines an eight-element strategy for democracies to counter Vladimir Putin's external ambitions, focusing on supporting Ukraine, increasing economic pressure on Russia, deterring attacks on NATO, engaging in hybrid warfare, communicating with various Russian constituencies, countering internal nationalism, and exercising strategic patience.
An expert notes the European Commission's upgraded GDP forecast for Russia acknowledges its economic resilience but may overstate growth, contrasting it with more realistic Russian assessments.
Russia's trade with China has become increasingly one-sided since the Ukraine war began, with Russia exporting significantly more goods, primarily discounted fossil fuels, to China than it imports. China, in turn, supplies crucial machinery and dual-use technology that Russia needs due to Western sanctions. This growing imbalance leaves Moscow vulnerable to Beijing's priorities, especially as trade shifts to the yuan.
Russia's economy contracted 0.3% in Q1 2026, but Deputy PM Aleksandr Novak says it remains strong due to low unemployment, rising incomes, and improving business activity.
President Vladimir Putin stated that Western sanctions against Russian entrepreneurs sometimes affect even distant relatives, reaching to "third elbow relation" (extended family). Speaking in Moscow, Putin emphasized that the Russian economy has been operating under serious external challenges for many years, including difficult economic conditions, illegitimate sanctions and other adverse circumstances.
The Bank of Russia cut its key rate by 50 basis points to 14.5% per annum at its Board meeting on Friday, with Governor Elvira Nabiullina indicating the range for further cuts in 2026 is narrowing. Inflation is expected to return to the 4% target in the second half of 2026, with the forecast for the year maintained at 4.5-5.5%. Nabiullina warned that inflationary risks have increased due to the Middle East conflict and potential fiscal policy changes, noting that a sharper rate reduction would require inflation to fall below target and unemployment to rise.
Central Bank chief Elvira Nabiullina warned that negative effects for the Russian economy will intensify if the Middle East conflict continues. At a press conference following the Board meeting, she noted the situation remains a significant external risk factor, warning that consequences from global cost increases may outweigh advantages from export growth and ruble appreciation.
Risks existing in global trade are growing protectionism and volatility in financial markets, Maxim Reshetnikov noted
Prices for foods lost 0.04%
