JRL NEWSWATCH: “Specter of new arms race has Russia recalling Soviets’ fate” – Christian Science Monitor/ Fred Weir

File Photo of Stealth Bomber in Flight

“Most Russian schoolchildren hold as true that the Soviet Union collapsed in part because it was foolish enough to engage in a vast global competition with the United States. … [including] a ruinous arms race that diverted resources from the civilian economy and ultimately bankrupted the country. … Despite a decade-long crash program to reform and reequip Russia’s moribund Soviet-era […]

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Declining Incomes among Russians Put Future of Country’s Middle Class at Risk, Chepurenko Says

Cash, Calculator, Pen

(Paul Goble – Window on Eurasia – Staunton, February 27, 2019 – windowoneurasia2.blogspot.com/2019/02/declining-incomes-among-russians-put.html) The declining incomes of Russians over the last few years are not only leaving all but the very wealthiest residents of that country poorer than they were but putting at risk the formation and survival of the politically critical middle class in the country, according to Aleksandr […]

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Russia Risk: It’s a Feature, Not a Bug

File Photo of Outdoor Electronic Sign with Russian Exchange Data

(Kennan Institute – wilsoncenter.org/program/kennan-institute – Maxim Trudolyubov – February 19, 2019 – wilsoncenter.org/blog-post/russia-risk-its-feature-not-bug) Maxim Trudolyubov is a Senior Fellow at the Kennan Institute and the Editor-at-Large of Vedomosti, an independent Russian daily. In a story both typical of Russian business practices and so unusual as to bring a response from Putin’s key business allies, the American investor Michael Calvey and […]

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‘Unorganized’ Change at the Top in Russia a Small but Real Risk to Country’s Economy, Moody’s Says

File Photo of Kremlin Tower, St. Basil's, Red Square at Night

(Paul Goble – Window on Eurasia – Staunton, Feb. 25, 2019) In a new survey of risks facing the Russian economy, Moody’s Investors Service says that “unorganized” regime change is “a distant but tangible one,” simultaneously sending warnings to both Vladimir Putin and to any who might seek to push him out of office before 2024. Many commentators have taken […]

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RUSSIALINK: “Russia’s Black Market Totaled 20% of GDP in 2018 – Reports” – Moscow Times

Hands Opening Envelope Containing Cash

(Moscow Times – themoscowtimes.com – February 22, 2019) The size of Russia’s shadow economy was equal to 20 percent of the GDP last year, media reported Friday, citing the Rosfinmonitoring state financial watchdog. The watchdog recorded 20.7 trillion rubles ($315.9 billion) in undeclared imports and income taxes, as well as under-the-table salaries and other suspicious transactions, in 2018, the RBC […]

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JRL NEWSWATCH: “Putin needs more than spending to lift ratings; Five years after Crimea was annexed, Russian discontent is rumbling” – Financial Times Editorial

File Photo of Kremlin Tower, St. Basil's, Red Square at Night

“… exactly five years after … annexing Crimea, trust in the [Russian] president has dropped to a 13-year low. The economy is stagnating. While his state of the nation address this week ended with habitual nuclear sabre-rattling, much was devoted to spending pledges aimed at burnishing his image. It is far from clear that such social bribery will work. … […]

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Five Takeaways From Putin’s State-Of-The-Nation Address

File Photo of Vladimir Putin at Podium with United Russia Logo, Gesturing

(Article text ©2019 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – Matthew Luxmoore – February 20, 2019 – article text also appeared at rferl.org/a/five-takeaways-from-putins-state-of-the-nation-address/29781350.html) MOSCOW — In his annual state-of-the-nation address on February 20 to Russia’s two-chamber parliament, President Vladimir Putin promised to spend huge sums of money. Critics ask where those funds will come from. 1. Focus On […]

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RUSSIALINK: “Social benefits proposed by president to cost 80 bln rubles in 2019 – Golikova” – Interfax

Cash, Calculator, Pen

MOSCOW. Feb 21 (Interfax) – The social benefits proposed by Russian President Vladimir Putin in his Address to the Federal Assembly for realization this year will cost 80 billion rubles, Deputy Prime Minister Tatyana Golikova said on the show “Time Will Tell” on Channel 1 on Wednesday. “According to our preliminary estimates, the things that fall to 2019 – in […]

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RUSSIALINK: “Having an Honest Business Is Not Possible in Russia, Majority Says” – Moscow Times

Men Sitting Around Long Oval Boardroom Table, File Photo of FIFA Officials Meeting with Vladmir Putin

(Moscow Times – themoscowtimes.com – February 20, 2019) A majority of Russians say that doing business in the country without breaking a few rules is impossible, according to a newly released state-funded survey. The poll was carried out a day after Michael Calvey, a U.S. citizen and one of the biggest private equity investors in Russia, was detained on suspicion […]

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JRL NEWSWATCH: “Calvey’s arrest sends chill through Russia’s foreign investors; U.S. founder of Moscow-based Baring Vostok was seen as savvy operator” – Financial Times/ Max Seddon, Anne-Sylvaine Chassany

File Photo of Outdoor Electronic Sign with Russian Exchange Data

“Kremlin officials were touting Russia’s investment opportunities at a [Sochi resort] conference … when news trickled out that one of the country’s last remaining American investors had been thrown behind bars. Michael Calvey … founder of Moscow-based private equity fund manager Baring Vostok, remained one of the last Russia bulls at a time when most of his contemporaries had left […]

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In Search of Better Quality of Life, Russians Lean on Credit

Cash, Calculator, Pen

(Moscow Times – themoscowtimes.com – Evan Gershkovich – February 16, 2019 – themoscowtimes.com/2019/02/16/in-search-of-better-quality-of-life-russians-lean-on-credit) Voronezh wasn’t cutting it. Artyom had been out of college for four years, and job openings in the southern Russian city were sparse. Last fall, in search of better employment opportunities, he headed north to St. Petersburg. But the journey wasn’t cheap. “I needed money for the […]

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Russia in 2019 and What Lies Ahead

Map of Russia and Russian Flag adapted from images at state.gov

(Russia Matters – russiamatters.org – Daniel Shapiro – February 14, 2019 – russiamatters.org/blog/russia-2019-and-what-lies-ahead) Daniel Shapiro is a graduate student associate with Russia Matters and Harvard’s Davis Center for Russian and Eurasian Studies. What can we expect for Russia in 2019 and beyond? At a recent policy workshop held by the Washington, D.C.-based PONARS Eurasia network, scholars and analysts addressed this […]

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JRL NEWSWATCH: “Is the arrest of US fund manager Michael Calvey a litmus test for Russia?” – bne Intellinews/ Ben Aris

File Photo of Outdoor Electronic Sign with Russian Exchange Data

“The arrest of Michael Calvey on February 14 on ‘large-scale embezzlement’ charges sent shockwaves …. Calvey has been both a savvy investor and at pains to keep his head down. He never comments on politics and is known as a straight shooter. … What is unusual is that a court issues an arrest warrant and a leading fund manager and […]

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RUSSIALINK: “It is necessary to fairly distribute money resources between cities, villages – Medvedev” – Interfax

File Photo of Car on Road in Siberian Town

MOSCOW. Feb 17 (Interfax) – The difference between the incomes of people living in cities and villages should decrease and the budget funds will be distributed more fairly, Russian Prime Minister Dmitry Medvedev said. “Of course, agglomerations, cities are where our country is developing. They are very important, a considerable number of people live there. But we should not forget […]

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RUSSIALINK: “WTO has essentially ceased to function due to U.S. actions – minister” – Interfax

Kremlin and Saint Basil's File Photo

MOSCOW. Feb 18 (Interfax) – The actions of the United States in the area of international trade have led to the World Trade Organization’s (WTO) activities coming to a virtual standstill and one can theoretically conceive that the trade body will cease to function altogether, Russian Economic Development Minister Maxim Oreshkin said on the Main Actors with Nailya Asker-Zade show […]

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JRL NEWSWATCH: “Stroppy in Strunino; The lessons from protests in small-town Russia; The government is getting less and less popular” – The Economist

Map of Russia and Russian Flag adapted from images at state.gov

“… in this sleepy town some 120km north-east of Moscow … when local activists organised a march … against planned cuts to medical services, more than 100 people took to the streets. …. an example of shifts in public opinion … reshaping the country’s political landscape. … The rapture [over Ukraine] began to fade … when the government announced plans […]

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RUSSIALINK TRANSCRIPT: “[Medvedev at] Russian Investment Forum Sochi 2019 [Excerpts]” – GovernmentRu

Dmitri Medvedev file photo

(Government.ru – February 14, 2019 – government.ru/en/news/35726/) Plenary session Success Factors: Ideas, Personnel, Skills. The forum’s main theme is National Projects: From Strategy to Action. The Russian Investment Forum exhibition includes promising investment projects from the regions and companies. Excerpts from Dmitry Medvedev’s remarks at a plenary session of the investment forum: This forum is completely different from any previous […]

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RUSSIALINK: “Russia can mitigate effects of new U.S. sanctions if imposed – Duma’s Slutsky” – Interfax

Russian State Duma Building file photo

MOSCOW. Feb 14 (Interfax) – Chairman of the Russian State Duma Foreign Affairs Committee Leonid Slutsky has said he believes that Russia can counteract new U.S. sanctions if they are imposed. “American senators have submitted the updated bill, which was earlier dubbed the ‘sanctions bill from hell’ against Russia. The motives behind it are completely far-fetched and unsubstantiated,” Slutsky told […]

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RUSSIALINK TRANSCRIPT: “Dmitry Medvedev on the strategic goals of the country’s development” – RIA Novosti

Dmitri Medvedev file photo

The start of the year provides an excellent opportunity to talk about plans and prospects. A great goal stands before us – accelerating development in key areas of the economy and the social sphere. And there is every opportunity to achieve this. I am talking about 12 national projects. Their cost along with the infrastructure plan is R25,700 bn (391 […]

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RUSSIALINK TRANSCRIPT: “[Putin at] Expanded meeting of the State Council Presidium on improving housing and creating a comfortable urban environment” – KremlinRu

Kremlin and River

(Kremlin.ru – February 12, 2019) Vladimir Putin held an expanded meeting of the State Council Presidium on the work of regional executive authorities of the Russian Federation aimed at improving housing conditions and creating a comfortable urban environment. A short presentation of Innopolis was held for the President before the meeting. Russia’s youngest city was established on June 9, 2015 […]

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Nearly 40 Percent of Russians Subsist on Less than 10 US Dollars a Day, Official Figures Show

Cash, Calculator, Pen

(Paul Goble – Window on Eurasia – Staunton, February 10, 2019) Thirty-seven percent of Russians life on 19,000 rubles or less a month, Rosstat says, a figure that works out to a subsistence of ten US dollars or a less a day, 23.2 percent live on less than 15,000 rubles a month (under seven dollars a day); and 12 percent […]

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JRL NEWSWATCH: “Officials get somber on GDP growth” – BMB Russia/ Bear Market Brief

Diverse Paper Currency, Coins, Line Graph

“… Oreshkin cited … one-off factors such as an increase in oil production and a dangerous boom in consumer borrowing as unsustainable sources of 2018 growth. … tr[ying] to refocus the discussion on structural reforms …. [and] a massive investment drive via national projects in infrastructure, demography, health, education, and exports …. Nevertheless, to the extent that the high 2018 […]

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Those Fishy-Looking Russian Economic Stats Look A Lot Like Those Fishy-Looking Soviet Economic Stats

File Photo of Kremlin Tower, St. Basil's, Red Square at Night

(Article text ©2019 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – Mike Eckel – February 11, 2019 – article text also appeared at rferl.org/a/those-fishy-looking-russian-economic-stats-look-a-lot-like-those-fishy-looking-soviet-economic-stats/29764301.html) When Russia’s state statistics agency released its initial estimates of 2018 economic growth on February 4, it caught economists, investment bankers, financial analysts, and many others off-guard. It wasn’t because the reported gross domestic product (GDP) […]

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Rosstat Can’t be Trusted Until It Becomes Independent, ‘Nezavisimaya gazeta’ Says

File Photo of Kremlin Tower, St. Basil's, Red Square at Night

(Paul Goble – Window on Eurasia – Staunton, February 8, 2019) People have long distrusted statistics – Mark Twain’s observation that “there are lies, damned lies, and then statistics’ is a commonplace – but over the last two years and especially over the last two weeks, Russians have come no longer to believe them at all if they are issued […]

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JRL NEWSWATCH: “With Savings to Burn, Russia Turns (Again) to a State-Led Spending Plan” – New York Times/ Andrew E. Kramer

Diverse Paper Currency, Coins, Line Graph

“… So much gold has piled up in its central bank that Russia surpassed China last year to become the world’s fifth-largest holder of gold. … Russia has $472 billion in reserves, more than the country’s combined public and foreign debt of $453 billion and nearly three times what the I.M.F. recommends. … the lode is also making for an […]

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JRL NEWSWATCH: “More controversy as Rosstat upgrades Russian GDP growth to a six-year high” – bne Intellinews/Ben Aris

Cash, Calculator, Pen

“More questions were raised over the veracity of the Russian State Statistical Service’s (Rosstat’s) results after it upgraded its estimates of growth in the construction sector that led to a revision of 2018 growth from 1.6% to 2.3% – the best result in six years …. Russia is emerging from a ‘silent crisis’ … caused by the collapse of oil […]

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At Least Twice as Many Russians Now Living in Poverty than Moscow Suggests, Gontmakher Says

Diverse Paper Currency, Coins, Line Graph

(Paul Goble – Window on Eurasia – Staunton, February 5, 2019 – ) In May 2018, Vladimir Putin said his goal was to reduce the number of people living in poverty by 2024, a worthy goal to be sure but one almost impossible to achieve because of the difficulties of providing everyone with a decent income and because the state […]

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The World’s Most Geopolitically Charged Pipeline

Gas Flame file photo

(Oilprice.com – Tim Daiss – January 19, 2019) Russia’s proposed pipeline to bring more gas from Russian fields into Europe via an undersea pipeline to Germany seems to be unable to shake both geopolitical maneuvering as well as headline-grabbing quotes from both sides of the divide. On Thursday, Wolfgang Ischinger, chairman of the Munich Security Conference, and a seasoned diplomat […]

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Diminishing Returns: How Effective Are Sanctions Against Russia?

(PONARS Eurasia – Stacy Closson – January 2019 – ponarseurasia.org/memo/diminishing-returns-how-effective-are-sanctions-against-russia) Stacy Closson is a Global Fellow at the Woodrow Wilson Center’s Kennan Institute and a Senior Adjunct Professional Lecturer at American University’s School of International Service. (PONARS Policy Memo) In November 2018, the Trump administration announced another set of sanctions on Russian individuals and entities for supporting Russia’s economic integration […]

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JRL NEWSWATCH: “Russia drops two places on Bloomberg innovation ranking” – bne Intellinews

File Image of Stylized Eye Surrounded by Binary Code

“Despite … hype surrounding … state digitisation … Russia fell to … 27th … in … [Bloomberg] global innovative rankings …. but was still … third best in Emerging Europe …. now on a par with Malaysia and Luxembourg. Last year, Russia was two positions higher. The top slot was once again taken by South Korea, the six-time champion of […]

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JRL NEWSWATCH: “Russia says oil price war with U.S. would be too costly” – Reuters

Oil Well file photo

“Russia should not unleash an oil price war against the United States but … stick with output cuts even … losing market share in the medium term, one of the main Russian architects of a production pact with OPEC said. Since 2017, Russia and OPEC have cut oil production jointly … to boost the price of crude. … oil has […]

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JRL NEWSWATCH: “Russians are ashamed of the ‘eternal poverty’ of their country” – bne Intellinews

File Photo of Kremlin Aerial View, adapted from .gov source

“… The collapse of the Soviet Union and the loss of superpower status was … humiliating … Putin has played on [that] with actions like the annexation of Crimea and the war in Syria, to restore some sense of national pride. However, a … Levada Center [poll] this month found that Russians continue to be ashamed of their ‘eternal poverty’ […]

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JRL NEWSWATCH: “Russia faces sharp outflow of private investment; More than $67bn shifted out of the country’s economy last year” – Financial Times/ Henry Foy

Diverse Paper Currency, Coins, Line Graph

“More private money left Russia in 2018 than … since the Crimean crisis and oil market rout of 2014 …. Over $67bn … according to the … central bank …. some … attributed to fears over … U.S. sanctions and threats of more actions from Washington …. [ING’s] Dmitry Dolgin … [indicated that when] Russia’s central bank suspended foreign exchange […]

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JRL NEWSWATCH: “Putin Push to Dump Dollar Proves Hard Sell With Russia Inc.” – Bloomberg/ Natasha Doff, Evgenia Pismennaya, Anna Andrianova, Annmarie Hordern, Andrey Biryukov, Anna Baraulina, Ilya Arkhipov, Yuliya Fedorinova

File Photo of Assorted U.S. Cash, adapted from image at tsa.gov

“Russia’s central bank dumped $101 billion last year in its biggest-ever shift away from the U.S. currency amid fears of new sanctions. But the Kremlin’s drive to wean the rest of the economy off the greenback has been slower going. Despite … Putin’s regular public exhortations to accelerate ‘de-dollarization,’ even the country’s state-owned companies are sticking to the currency. Shifting […]

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JRL NEWSWATCH: “Putin can’t afford to ditch the dollar” – Reuters/ Steven E. Halliwell

Diverse Paper Currency, Coins, Line Graph

“Paul Manafort, while managing Donald Trump’s 2016 election campaign, is accused of passing private polling data to his Russia business partner, a man with alleged ties to Russian intelligence. … revealed in an unsealed court filing … likely to stoke the case in Congress for increased sanctions …. [T]he reverberations will be felt in Moscow, where anger and frustration over […]

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JRL NEWSWATCH: “Why Russia’s Economy Is Headed for Trouble; A lack of real reforms and a hyper-dependence on oil has prevented the emergence of a healthy, diverse economy” – The National Interest/ Michael Rubin/ American Enterprise Institute.

File Photo of Vladimir Putin at Podium with United Russia Logo, Gesturing

“… Putin’s lasting legacy … will not be his wars in Georgia or Ukraine nor the new submarines, fighter jets, nuclear weapons, or hypersonic missiles whose manufacture and unveilings he has overseen. Rather, Putin’s historic legacy will likely be inheriting a country with great economic potential and leaving it an empty husk.  After so many years in power, Putin has […]

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RUSSIALINK: “Pragmatic Paternalism: The Russian Public and the Private Sector” – Carnegie Moscow/ Andrei Kolesnikov, Denis Volkov

Men Sitting Around Long Oval Boardroom Table, File Photo of FIFA Officials Meeting with Vladmir Putin

“Russians have a dream for their children and their grandchildren of a different environment that is favorable for entrepreneurship and private initiatives. This is where the true interests of Russians and their perceptions about the future diverge radically from the interests and perceptions of the state in which they live. …”

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JRL NEWSWATCH: “The revival of Russia’s cinema industry” – bne Intellinews/ Ben Aris

File Photo of Reel of Film

“Russia’s cinema business is growing three times faster than the real economy, but it’s a bumpy ride. In 2018 Russian movie-goers set a new record with 56mn visits to a cinema to generate a box office take of RUB13.5bn ($200mn). With one Russian in three having a night out in front of the silver screen, the growth of the business […]

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RUSSIALINK: “To Be Effective, Russia Sanctions Have to Be Removable; The U.S. must decide whether its economic restrictions against Oleg Deripaska are a permanent punishment or an incentive for change” – Bloomberg / Leonid Bershidsky

U.S. Capitol in Bright Sunlight

“The congressional Democrats’ opposition to a proposal to lift U.S. sanctions against the companies founded by the Russian billionaire Oleg Deripaska raises an important question: Is the punitive policy designed to achieve specific goals or primarily to make a statement? The sanctions against United Co. Rusal, En+ Group Plc and EuroSibEnergo JSC will expire on Jan. 19 unless Congress takes […]

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RUSSIALINK: “Russians spent more in 2018, set to cut expenses – poll” – Interfax/ Romir Research Holding

Diverse Paper Currency, Coins, Line Graph

MOSCOW. Jan 16 (Interfax) – A quarter of Russians are not planning big purchases within the next six months, according to a report of the Romir Research Holding. Russians are planning to significantly cut expenses on clothes, healthcare, vacations, and smartphones, Romir said. “Certain types of expenses are hard to plan and carry out precisely. These include healthcare, car repairs, […]

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RUSSIALINK TRANSCRIPT: “[Medvedev speech excerpts:] 10th Gaidar Forum: The main theme of the 2019 Gaidar Forum is Russia and the World: National Development Goals and Global Trends.” – GovernmentRu

Dmitri Medvedev file photo

(Government.ru – Jan. 15, 2019 – government.ru/en/news/35366/) The Gaidar Forum is an ongoing discussion platform for pressing current issues. The forum has been held annually since 2010 in memory of Yegor Gaidar, a researcher, economist and ideologist of the early 1990s reforms in Russia. Forum discussions centre on Russia’s place and strategic role in the world. Among forum moderators are […]

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As Bad as Russian Roads are for Travel, Russia’s Waterways are Worse, Yemelchenkov Says

Map of Russia and Russian Flag adapted from images at state.gov

(Paul Goble – Window on Eurasia – Staunton, January 12, 2019) For most of Russia’s histories, rivers and later canals were the primary transportation network over that country’s vast roadless and largely railway-less areas. Its roads have remained notorious for their poor quality, and its railroads are suffering ever more accidents. But the state of its rivers and canals has […]

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RUSSIALINK: “Medvedev hopes pact with oil cos to rein in prices will be honored” – Interfax

Dmitri Medvedev file photo

MOSCOW. Jan 14 (Interfax) – Russian Prime Minister Dmitry Medvedev said he hoped agreements between the government and oil companies to rein in fuel prices would be followed and that it would not be necessary to resort to restrictive measures. “As you know we have a number of understandings with oil companies, including that price growth for petroleum products, motor […]

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RUSSIALINK: “Holiday spending in Russia dips slightly year-on-year – poll” – Interfax

New Year's Eve on Red Square with Fireworks, Kremlin, Saint Basil's, Crowds

MOSCOW. Jan 14 (Interfax) – Russians spent an average of 13,870 rubles this holiday season, slightly less than in 2018 (14,195 rubles), the Russian Public Opinion Research Center (VCIOM) said on Monday. “Actual spending generally coincided with the amount planned in late December (13,755 rubles). About 5,375 rubles were spent on gifts for family and friends, 4,592 rubles on New […]

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JRL NEWSWATCH: “Russia to resume forex purchases after sanctions hiatus; Moscow will spend Rbs265.8bn between next Tuesday and early February” – Financial Times/ Max Seddon

Diverse Paper Currency, Coins, Line Graph

“Russia’s finance ministry said it is resuming foreign currency purchases on open markets after fears over U.S. sanctions saw it halt them last year to head off a slide in the rouble rate. … Rbs265.8bn … next Tuesday and February 6, the ministry said in a statement on Friday. … the first since the central bank … stopped them in […]

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JRL NEWSWATCH: “Russia’s GMO debate looks a lot like America’s – with more geopolitics” – Christian Science Monitor/ Fred Weir

File Photo of Wheat Field in Kenya, adapted from image at usda.gov

“… faced with something new, Russian lawmakers have generally found it easier to ban it than … debate it, even if such prohibitions often prove dysfunctional …. case in point: Russia’s legislation banning … production of genetically modified organisms (GMOs) … nominally implemented … to keep Russia’s food supply ‘pure.’ The passage two years ago of the law … prohibit[ing] […]

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JRL NEWSWATCH: “The Russian town that might save the world; Torzhok is experiencing a resurgence because of one woman’s activism” – Christian Science Monitor/ Mark Sappenfield

“… Before Ms. Sokolova intervened, why had Torzhok been forgotten? The simplest answer is that it had grown mentally stale. … Sokolova’s ideas for new festivals and civic renewal projects were not rocket science. Yet they have begun to push Torzhok into an entirely new orbit, symbolized by restored train service from Moscow and St. Petersburg. …” Click here for: […]

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One Russian in Four Lacks an Indoor Toilet, One of Many Signs There are Now ‘Four Distinct Russias’

Map of Russia and Russian Flag adapted from images at state.gov

(Paul Goble – Window on Eurasia – Staunton, January 7, 2019) According to a new report by Russia’s state statistical agency, Rosstat, 35 million Russians live in houses or apartments without indoor toilets, 47 million do not have hot water, 29 million don’t have any running water inside their residences, and 22 million do not have central heating (ehorussia.com/new/node/17679). In […]

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Why Russia Isn’t Worried About Lower Oil Prices

Oil Wells File Photo

(oilprice.com – Nick Cunningham – Dec 27, 2018 – oilprice.com/Energy/Oil-Prices/Why-Russia-Isnt-Worried-About-Lower-Oil-Prices.html) Even as Saudi Arabia has scrambled to prevent a bust in the oil market, so far failing to head off a dramatic price slide, Russia seems just fine with prices where they are. Russia is a key piece of the oil price puzzle. OPEC, once a coalition of oil-producing members […]

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RUSSIALINK: “Real Incomes ‘Barely Budged’ in 2018, Chief Auditor Says” – Moscow Times

Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – January 3, 2019) Russians saw virtually no change in their purchasing power as prices outpaced growth estimates in 2018, the country’s chief auditor has said. Economists say 2018 was the fifth consecutive year of falling real disposable personal incomes in Russia. They are set to drop again this year. “Citizens’ real incomes increased by decimal […]

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