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Russian economy in lingering recession, hoping for recovery

Oil prices continue to be one of critical risks for the Russian economy in 2016

© Ilya Pitalev/TASS

MOSCOW, December 31. /By TASS reporter writer Maria Bobareva/. Expectations of Russian authorities regarding the long recession of the Russian economy in 2015 proved to be largely justified. Formal outlooks of the Russian Ministry of Economic Development revised the drop in the economy from 0.8% to 2.8%, while the most recent decline forecast is 3.7-3.8%. Stabilization surfaced in the economy in summer but was later undermined by volatile oil prices and plummeted by the year-end. At the same time, authorities and analysts believe the situation could be worse but the economy managed to adapt to low raw materials prices and sanctions environment.

RUSSIA'S ECONOMY

Consumer demand and investments, these main drivers of the economy, did not show anything promising. The consumer sector is the greatest point of concern for the government, Minister of Economic Development Alexey Ulyukayev said. Investments declined by 5.5% in January - November 2015, in contrast to earlier expected 10%, he said. Investments of the fuel and energy sector contributed to improvement of this indicator, the minister said. Consumer demand fell because of the real salary contraction, the price hike and the consequent transition to the selective and saving model of ongoing consumption, the Economic Development Ministry said in its November bulletin. The retail trade turnover dropped 13.1% year-on-year in November 2015.

Oil prices continue to be one of critical risks for the Russian economy in 2016. Russian Finance Minister Anton Siluanov gave a pessimistic assessment for the oil price. It will be $40 a barrel in 2016, the minister said. Financial authorities are ready to revise the budget already in the first quarter of the next year if such a scenario is implemented.

The government expects a minor recovery in the Russian economy in 2016. The Ministry of Economic Development expects growth to be 0.7% in its latest outlook. However, Minister of Economic Development Alexey Ulyukayev said later that grounds exist for the downward revision of the forecast due to low oil prices. Current expectations of the ministry provide for inflation at the level of 6.4%, the average annual dollar rate of 63.3 rubles and the oil price of $50 a barrel.

Russian stock market indices mixed on Friday — market data

The MOEX Russia Index surged by 0.48% to 2,581.05 points

Ukraine should consider territorial concessions to Russia in return for peace — magazine

Foreign Policy pointed out that Western officials should stop insisting in public speeches on the need to achieve a strategic defeat for Russia

US administration chooses to escalate Ukraine conflict — Kremlin

Earlier, Putin stressed that the Ukrainian army is unable to fire the latest Western-made long-range missiles on its own without support from NATO satellite feeds and the involvement of the bloc’s military

US-led coalition aircraft violate Syrian airspace ten times in past day

Apart from that, one violation of the deconfliction protocols of December 9, 2019 linked with the flights by the US-led coalition unmanned aerial vehicles was reported

IN BRIEF: What Putin said about Russia’s new missile, and Moscow’s response to the West

Moscow used its new Oreshnik medium-range hypersonic ballistic missile in response to the West’s decision to authorize strategic-depth strikes on Russia

Lukashenko tells Putin situation is "starting to get tense with Wagner"

The Belarusian leader noted that they want to go to Warsaw

Japanese lawmaker praises Putin's restraint amid decision to strike deep into Russia

Top EU diplomat Josep Borrell confirmed that the US administration had lifted restrictions for US-supplied missiles to be used for strikes up to 300 kilometers inside Russia

Enemy has no countermeasures for Russia’s Oreshnik missile — Putin

Speaking in a televised address, the head of state assured that Russia will issue notifications before using this type of missile

West beginning to realize only part of Ukraine will remain — Lavrov

According to the Russian foreign minister, this represents the "confrontational logic" of the West

Putin stays open to contacts to reach 'peaceful track' — Kremlin

Russian President Vladimir Putin delivered a televised address to the nation on November 21, announcing that in response to the West’s decision to authorize strategic-depth strikes on Russia, Moscow used its new Oreshnik medium-range hypersonic ballistic missile for the first time

Over 1,200 children from Dagestan remain in refugee camps in Middle East

The humanitarian mission for the repatriation of Russian children from the Middle East began in 2018 and is coordinated by the Russian children’s ombudswoman’s office

Russia's Oreshnik missile poses significant threat to West, Turkish expert warns

These missiles pose a threat not only to Ukraine but also to the entire Western world, including continental Europe and Great Britain, Abdullah Agar stressed

Press review: US lets Kiev use anti-personnel mines and Iran may halt uranium enrichment

Top stories from the Russian press on Thursday, November 21st

West builds up military presence near Russia’s Arctic borders — presidential aide

According to Nikolay Patrushev, the "imposed sanctions restrictions are aimed at thwarting the implementation of Russia’s Arctic projects"

Russia’s steel production plunged in October — WSA

China produced 81.9 mln metric tons in October, up 2.9% on an annualized basis

Ukraine was warned about possible missile strike — Pentagon

Department of Defense Deputy Press Secretary Sabrina Singh gave no answer to the question of how could Ukraine prepare for this kind of attack

Russian forces cut off key Ukrainian supply route in Velikaya Novoselka, DPR

According to the security services, Ukrainian troops still have access to several unpaved roads, which are also under Russian fire control

Russia’s re-election to UNCITRAL confirms its global reputation — Foreign Ministry

Russia got the support of 129 countries in a November 20 vote in New York at the 40th plenary session of the UN General Assembly

Oreshnik missile to go into serial production, Putin says

The president stressed that given the weapon’s special power, it "will be provided precisely to the Strategic Missile Forces"

Trump seeks to restore peace in entire world — transition team on Putin’s address

Trump’s inauguration will take place on January 20, 2025

Japanese government refrains from commenting on Russia’s latest hypersonic missile

At the same time, Chief Cabinet Secretary Yoshimasa Hayashi once again criticized Russia’s actions in Ukraine

US, West have no capabilities to intercept new Russian hypersonic missile — expert

"There is more in the Russian arsenal than many believe," said Karin Kneissl, the former Foreign Minister of Austria

Putin’s recent statements reflect long-standing policy, expert says

Putin’s position can be traced back to his 2007 address at the Munich Security Conference, Tiberio Graziani says

China urges restraint after Russia, Ukraine's exchange of attacks — foreign ministry

Lin Jian also reaffirmed Beijing's position on the Ukrainian issue

Zelensky fine with conflict continuing due to Western help — Slovak PM

Robert Fico pointed out that "more and more evidence show that the West seeks to prolong the war in Ukraine for various reasons"

China against double standards in international law — Foreign Ministry

Spokesman Lin Jian highlighted Washington's use of double standards in handling the Israeli-Palestinian conflict within the United Nations

US, European officials suggest returning nukes to Ukraine — NYT

US officials believe that ramping up weapons supplies to Ukraine is unlikely to change the situation in the combat zone short term, but it may help Kiev strengthen its stance in case a truce is reached

Russia encircles largest Ukrainian fortification in southern DPR — security services

"The enemy positioned in the fortified area in Velikaya Novoselka in the south of the DPR is already trapped in a kill zone," the source said

Ex-German chancellor never expected Russia to tolerate Ukraine’s NATO membership — memoir

Angela Merkel added that another fallacy was the belief that the status "would act as a deterrent," and that Moscow "would accept these developments without taking action"

Oreshnik can reach targets across entire Europe — missile troops commander

"Based on the tasks and the range of this weapon, it can hit targets across entire Europe, which sets it apart from other high-precision long-range weapons," Sergey Karakayev said

Zelensky’s actions make Ukraine vulnerable to coup, says politician

"Democratic institutions in the country have been destroyed, rendering dialogue between the government and the people impossible," Viktor Medvedchuk said

Putin says Oreshnik missile system cutting-edge innovation by Russia, not Soviet byproduct

The Russian Defense Ministry announced earlier in the day that the country’s latest Oreshnik intermediate-range ballistic missile hit all the targets at a major Ukrainian military-industrial enterprise in Dnepr (Dnepropetrovsk) with its MIRVed warheads

Commissioning of Oreshnik and new developments: Putin’s meeting with defense specialists

Here are the key statements, made during the meeting

Enemy losses, mercenary intrigue, humanitarian aid: situation in Kursk Region

Over the day, the enemy lost 150 troops, four motor vehicles, an artillery piece and two mortars

US decision to allow missile strikes deep into Russia fuels global escalation — Slovak PM

Robert Fico also rejected the belief that this escalation would not impact "those living far away, in Spain, England, or America"

Western nations should take Putin's statement seriously, warns Hungarian PM

Viktor Orban recalled that Russia has "one of the most powerful armies in the world, which boasts the most advanced, most powerful weapons"

Internet shutdown possible in Belarus if events of August 2020 recur, Lukashenko says

Belarus faced widespread disruptions to mobile Internet access in 2020 due to the protests that erupted across the country

US expects Russia-North Korea cooperation to be formidable challenge in coming years

Mira Rapp-Hooper mentioned the US administration’s version, according to which North Korea has allegedly sent troops to engage in active combat in Ukraine

Russian air defense deflects attacks with Western missiles — Putin

"As a result, the goals that the enemy apparently set have not been achieved," the Russian leader said

Press review: Russia fires missile at Ukraine plant and Biden forgives Kiev $4.65 bln debt

Top stories from the Russian press on Friday, November 22nd

Russia hammers Ukrainian military-industrial facilities, energy sites over week

Russian forces liberated seven communities in the Donetsk People’s Republic over the past week, the Defense Ministry reported

India, Russia discuss defense industry within military cooperation commission

The meeting was co-chaired by India’s Secretary (Defense Production) Shri Sanjeev Kumar and Russia’s First Deputy Director of the Federal Service for Military Technical Cooperation Andrey Boytsov

Western air defense systems unlikely to intercept Russian missiles — France’s Le Monde

According to the French military source, Russia's recent use of the Oreshnik intermediate-range ballistic missile should be taken in the context of possible negotiations regarding the ongoing Ukrainian conflict

Ukraine conflict entering decisive phase, Polish PM says

According to Donald Tusk, "no one knows how the conflict will end"

Bank of Russia lifts official dollar rate to 102.58 rubles for November 23-25

The Central Bank said on June 13 that it would fix official dollar and euro rates against the ruble on the basis of reports of banks on results of transactions in the over-the-counter currency market

Trump to rely on forces that brought him to power — Russian presidential aide

Nikolay Patrushev agreed that Trump, when he was still a candidate, "made many statements critical of the destructive foreign and domestic policies pursued by the current administration"

WIPO members adopt Riyadh Design Law Treaty

The treaty is aimed at harmonization of national and regional laws and at unification of formal requirements to designs registration

Any escalation scenario possible in Ukraine conflict — Medvedev

According to the politician, Western nations need to understand that they are fighting on Ukraine’s side

Good relations between Moscow, Riyadh helping oil market stability — Medvedev

"Our friends are living in the Arab world," the politician noted

NATO enters conflict, Russia has every right to attack its targets now — expert

Col. (Ret.) Lawrence Wilkerson confirmed to TASS that the launch of ATACMS missiles would be impossible without "US/NATO satellite feeds and/or personnel"

Ukrainian defense line in Donbass may soon collapse — expert

"Those are very important logistical hubs and defence outposts for the Ukrainian armed forces, and losing them will give Russia the advantage to move forward to cities like Kramatorsk and Slovyansk," Marina Miron emphasized

Russian strategic missile forces to be equipped with advanced weapon by 95%

"A large-scale investment program for expanding production capacities at defense sector organizations is being implemented", Vasily Tonkoshkurov said

Chinese pandas sent back home after years in Finland

In September, a zoo in the Finnish city of Ehtaeri decided it had little choice but to return a pair of pandas given to Finland after the 2017 visit of Chinese President Xi Jinping to Helsinki

North Korean leader warns of growing risk of nuclear war — KCNA

Kim Jong Un added that negotiations with the US only confirmed the North Korean view that Washington’s hostile policy remains unchanged

Russian stock market indices mixed on Friday — market data

The MOEX Russia Index surged by 0.48% to 2,581.05 points

Zelensky begs ‘for his country to be flattened’ — US journalist

"Ukraine should be forever grateful that President Putin is calm, rational and kind - because Zelensky is practically begging for his country to be flattened," American political commentator Jackson Hinkle said

Zelensky shook up by Russia’s response to permission to attack it — Lavrov

According to the Russian foreign minister, the West is directly involved in the use of long-range weapons against Russia, as not a single missile could be launched without its involvement

Russia uses aerial bombs to destroy Ukrainian positions near DPR’s Konstantinovka — source

According to the report, at least 15 Ukrainian servicemen were killed as a result of the attack

Russia’s Oreshnik has no analogues worldwide — Putin

"We know what kind of developments are being carried out there, but this will happen tomorrow or in a year or two, but we have such a system already today," the president said

West irrational, fails to understand it cannot intercept Russia's new missiles — Kneissl

The former Austrian foreign minister stressed that she "counted on rational Western decision-makers, but irrationality is unfortunately on the rise among them"

Decision on strikes inside Russia seals US puppet Zelensky’s fate — commentator

The New York Times reported earlier, citing sources, that US President Joe Biden had authorized the use of US-made ATACMS tactical ballistic missiles for strikes inside Russia

Zelensky to have no input if Russia, US negotiate, ex-Prime Minister says

Previously, Elon Musk said on the X social platform, commenting on Zelensky’s supposition that the United States cannot force Ukraine to "sit and listen" at the negotiating table because Ukraine is an independent country, that Zelensky has an "amazing sense of humor"

Illegal decisions on Russian property in Finland will not go unanswered — diplomat

Maria Zakharova noted that the Russian Embassy in Helsinki has sent requests to clarify the situation

Russia not obliged to notify anyone about launch of intermediate-range missile — Kremlin

"No, there have been no notifications, for Russia has no such obligation with regard to intermediate-range missiles," Dmitry Peskov emphasized

Diplomat mocks US Senator for talking about invading Netherlands

Maria Zakharova quoted the US Senator, who called the ICC a "Kangaroo court" and ICC Prosecutor Karim Khan a "deranged fanatic"

Bundeswehr prepares plan for Operation Germany in case of war with Russia — newspaper

According to it, the 1,000-page "Operation Germany" plan lists all infrastructure facilities that deserve special protection, and also contains a procedure for defense or "measures to deter Russia on NATO’s eastern flank"

Eliminating best enemy units: Defense Minister visits special op area

Andrey Belousov stressed that Russian troops have accelerated their advance in the special military operation zone and have effectively disrupted Kiev's 2025 military campaign

US journalist calls US President Joe Biden’s government 'the fascist state'

Earlier, Tucker Carlson said that Joe Biden's approval of long-range missile strikes by the Ukrainian army deep inside Russia could threaten US people

Tehran to launch new centrifuges in response to IAEA anti-Iran resolution — statement

The measure is taken in response to the anti-Iran resolution adopted by the International Atomic Energy Agency Board of Governors on Thursday

Russia forced to roll out new weapons as West fuels conflict, Minsk says

According to Belarusian Security Council State Secretary Alexander Volfovich, "the West does not support peace, it supports war"

Captives, Ukrainian losses: situation in Kursk Region

Over the day, the enemy lost more than 150 people, while five Ukrainian servicemen surrendered

Russia entitled to use weapons against military sites of states attacking it — Duma

"Russia has repeatedly stated that such actions will receive a response – and it will be a stronger one," Duma Speaker Vyacheslav Volodin stressed

Russia fires ballistic, non-nuclear-tipped missile at Ukrainian aerospace plant — Putin

According to the president, the missile is code-named Oreshnik, which can roughly be translated as hazel bush

Western countries should 'be afraid, tremble' after Putin's statement — lawmaker

Andrey Kartapolov added that the special military operation in Ukraine "will continue its course until all tasks are completed"

Ukrainian frontline may 'collapse' under onslaught of Russian forces — BBC

According to the experts, Ukraine’s incursion into Russia’s borderline Kursk Region turned out to be a "strategic catastrophe" amid "manpower shortages"

Oreshnik missile to change course of Ukrainian conflict, Medvedev believes

Russian Security Council Deputy Chairman Dmitry Medvedev said it in an interview

US admiral says Washington should be ready for talks with Russia, China

The Department of State and other US agencies "should continue to engage our competitors in real and substantive dialogue," Rear Admiral Thomas Buchanan said

Defense ministers of five European nations to meet in Berlin on November 25

The French interior ministry said earlier that an emergency meeting of the NATO-Ukraine Council will be held on November 26 following Russia using its new missile against a Ukrainian defense sector facility

Putin’s remarks on hypersonic missiles send serious warning to West — Turkish politician

According to the Russian president, it can install a nuclear warhead on this missile, if necessary, Deputy Chairman of Turkey’s Patriotic Party Hakan Topkurulu said

Lukashenko grants asylum to Schmidt persecuted on political grounds by Poland

The head of state also approved citizenship applications from foreign nationals and stateless persons residing in the country

Russian ambassador says UK prime minister doesn’t understand situation in Ukraine

Turning to the Labour Party’s domestic policies, Andrey Kelin said Starmer’s plans to spur the economy were "not met with applause by the population

Kremlin clarifies notification process for Oreshnik missile launch

"An automated warning was sent 30 minutes before the launch," Dmitry Peskov said

US missile defense base in Poland long among Russian army’s targets — Foreign Ministry

Maria Zakharova stated that the US-NATO construction project, ongoing for nearly a decade with complete disregard to Russian security concerns, has consistently been a focus of Russia's attention

Weapons supplied to Ukraine cannot reach Russian territory, Spanish defense minister says

The New York Times reported on November 17 that US President Joe Biden had authorized the use of US-supplied ATACMS tactical ballistic missiles for strikes inside Russia

Russia’s reaction to Austrian OMV’s failure to pay for gas justified — MFA

The company stated it would seek damages amounting to 230 million euro for failing to receive the contracted volume of gas from the Russian company for delivery to Germany

German politician slams Ukraine’s ‘irresponsible’ strike on Russia with UK-made missiles

"A diplomatic search for balance and mutual understanding should be the goal, instead of further escalation," Alice Weidel said

Kremlin confident Putin's statement got through to US administration

Russian President Vladimir Putin said on November 21 that the United States and its NATO allies had earlier announced that they would authorize Ukraine’s use of long-range weapons to hit inside Russia, after which American and British missiles struck Russian military facilities in the Kursk and Bryansk regions

Daily death toll from Israeli airstrikes on Lebanon nears 60 — health ministry

The overall death toll from Israeli bombardments and artillery attacks since the outbreak of the current escalation in October 2023 has reached 3,642, with 15,356 people being wounded

Biden’s decision to use ATACMS against Russia may 'blow up in America’s face' — US expert

According to Daniel Davis authorizing US long-range weapons to be used against Russia is "foolhardy to the highest order," "especially because there is no military upside for doing so"

Russian embassy warns UK about dangers of calling for Moscow’s ‘defeat’

According to th statement, London is promoting new rounds of escalation

Russian military to warn Ukrainian civilians of future Oreshnik attacks — Kremlin

Earlier, the Russian Armed Forces carried out a precision strike on Ukraine’s Yuzhmash defense industry facility in retaliation for the use of US-and UK-made weapons for strikes on Russia

Signal to West and 'red card': experts weigh in on Putin’s missile launch statements

The important message in Vladimir Putin’s speech was that "Russia does believe that the West has shifted from a proxy-war to direct war" and that the parties find themselves in "a global conflict" now, Dmitry Suslov said

Bulgarian politician sees Oreshnik missile strike as wake-up call for peace

"European politicians need to think twice about what they do next, especially since Donald Trump, who will take office in two months, replacing the current White House occupant, has already expressed his commitment to the policy of peace," Krasimir Karakachanov said

Houthis say they attacked Israeli military base with hypersonic missile

The Israel Defense Forces said on Thursday evening that it had intercepted a missile launched from Yemen before it entered the Israeli airspace

Soyuz rocket carrying Progress MS-29 cargo spaceship blasts off from Baikonur spaceport

Progress MS-29 will deliver 2,487 metric tons of cargo to the orbital outpost, including fuel, drinking water, compressed nitrogen, various equipment, food and clothing

Putin's speech shows West that Russia won’t waver, is ready for any scenario — expert

Dmitry Suslov pointed to a crucial message in the President's speech: "Russia firmly believes that the West has moved from a proxy war to a direct war" and that the sides are already "in a state of global conflict"

Belarusian president believes humanity is on the brink of World War III

Alexander Lukashenko also emphasized that a real information war has been underway for a long time

Biden’s actions on Ukraine meant to 'muck things up' for Trump — Lavrov

According to the Russian foreign minister, such behavior is "typical of the Democrats"

US not seeking confrontation with Russia, but will continue assistance to Kiev — Pentagon

Department of Defense Deputy Press Secretary Sabrina Singh also claimed that Washington, while helping Ukraine, is not attempting to turn the conflict into a large-scale regional confrontation that spills beyond the country’s borders

Turkey’s desire to be gas hub important for energy security — Russian official

Russia will continue developing pipe gas supplies and will "continue supplying competitive energy resources to partners and the whole world," Pavel Sorokin noted

Russian forces successfully advancing in all areas in special military op zone — Putin

The Russian president said that "all the goals we set for ourselves are being achieved"