The word of 2025 in Russia, according to an online poll, was “anxiety.” And people in Russia really do have plenty to worry about. The year now coming to an end will be remembered for a significant slowdown in the growth of the Russian economy...

This week we bring you a state of the nation rundown, a look at the condition of Russia’s economy as it enters 2026. thebellio.substack.com/p/how-russia...

Revolut founder Storonsky Raises His Stake to 29%. The Holding Is Worth Nearly $25bn. en.thebell.io/revolut-foun...

Russia's Central Bank prepares end-of-year cut: en.thebell.io/central-bank...

Phone scammers steal billions of dollars from Russians every year.

The most hated woman in Russia thebellio.substack.com/p/the-most-h...

This week we look at the battle over whether the EU will channel Russia’s frozen assets to Ukraine — and how Moscow is already responding. thebellio.substack.com/p/final-batt...

Thank you to everyone who joined us for our webinar yesterday, and for your thoughtful questions! The full video is now available on our website for our paid subscribers: en.thebell.io/russias-econ...

TODAY at 14:30 CET / 8:30 EDT! Paid subscribers will receive a link directly to their inboxes. If you would like to join the event today, you may subscribe to for just $1 for the first month, cancel anytime, and will be sent a link. Looking forward! pro.thebell.io/webinar_dece...

TODAY at 14:30 CET / 8:30 EDT! Paid subscribers will receive a link directly to their inboxes. If you would like to join the event today, you may subscribe to for just $1 for the first month, cancel anytime, and will be sent a link. Looking forward! pro.thebell.io/webinar_dece...

Our latest Monthly Briefing: thebellio.substack.com/p/the-bells-...

Since 2021, 8 of Russia’s top 10 online services have been blocked, pushed out, or taken over.

TOMORROW! Russia’s economy hit the brakes — is a full stop coming? Join Alexander Kolyandr and Alexandra Prokopenko for a live webinar followed by Q&A. Bring us your tough questions! Exclusively for our paid subscribers: first month now only $1, cancel anytime. pro.thebell.io/webinar_dece...

This week we look at how Russia’s assault on foreign internet platforms is reaching its final stage, with new threats against WhatsApp, the blocking of FaceTime and Snapchat, and increasingly sophisticated tools to stamp out VPNs. thebellio.substack.com/p/russia-app...

Last week, the EU added Russia to its list of countries with a high risk of money laundering and terrorist financing. This does not carry consequences as severe as being placed on the FATF blacklist, but it will certainly create problems for Russians. (continued below)

This Wednesday at 8:30 EDT / 14:30 CET, The Bell’s Alexander Kolyandr and Alexandra Prokopenko will host a live webinar exclusively for our paid subscribers. We are now offering subscriptions for just $1 for the first month, cancel at any time. Please join us! pro.thebell.io/webinar_dece....

This week in Inside the Russian Economy, we analyze the EU’s decision to put Russia on its financial blacklist, and what Putin hopes to bring back from his trip to India. Free to read in our new Substack: thebellio.substack.com/p/eu-puts-ru...

Next Wed Dec 10, join Alexander Kolyandr and Alexandra Prokopenko for an hour-long dissection of Russia's economic unraveling. We'll break down how we got here, what the data really shows, and where things go from here. Bring us your tough questions! pro.thebell.io/webinar_dece....

Exactly one week from today, The Bell's Alexander Kolyandr & Alexandra Prokopenko will host a webinar on Russia's economy exclusively for our paid subscribers, followed by live Q&A. To learn more and join us (first month subscription now just $1, cancel anytime): pro.thebell.io/webinar_dece....

A strange rise in productivity: thebellio.substack.com/p/a-strange-...

Russian Banks Declare War on Marketplaces Over the past five years, online retail in Russia has gone from a small but fast-growing segment to a major industry: according to surveys, seven out of ten Russians shop there at least occasionally.

This week we get under the hood of Russia’s biggest business clash of the moment as the country’s financial giants try to take on the booming online marketplaces. Free to read in The Bell's new Substack: thebellio.substack.com/p/russias-ba...

Russia’s economy hit the brakes — is a full stop coming? Join The Bell on Dec 10 for a live webinar followed by Q&A: pro.thebell.io/webinar_dece....

Russian companies are having a harder time servicing their loans. In the first half of 2025, 58.5% of corporate loans were provided to businesses facing elevated interest burdens, according to a report by the Bank of Russia (more below)

Russia’s economy hit the brakes — is a full stop coming? Join us on Dec 10 for our upcoming webinar with The Bell authors Alexander Kolyandr and Alexandra Prokopenko as we look closely at the state of the Russian economy, followed by live Q&A. pro.thebell.io/webinar_dece....

This week, Alexander Kolyandr and Alexandra Prokopenko look at how the Kremlin may have the upper hand on the battlefield, but at home its top companies are struggling with the costs of the war. Free to read in The Bell's new Substack: thebellio.substack.com/p/wartime-de...

The Bell is pleased to announce our second Webinar exclusively for our paid subscribers. Please join us on Dec 10. Live Q&A will follow! pro.thebell.io/webinar_dece....

Russia's Central Bank began its first sales of physical gold from its reserves as part of the finance ministry’s efforts to fund the budget deficit: thebellio.substack.com/p/russia-sta...

The Bell’s Peter Mironenko on the “peace” plan “It’s hard to imagine this one will bring any more substantial progress, not least because it looks like the most slipshod proposal of all and exposes obvious contradictions within the White House itself.” thebellio.substack.com/p/trumps-ukr...

This week, The Bell highlighted cracks in Russia’s economy visible in the 3Q data, as well as Russia beginning to sell gold to help fund its budget deficit: thebellio.substack.com/p/russias-ec...

This week, The Bell's Peter Mironenko tackles the question on everyone's minds: could Donald Trump’s controversial peace plan lead to an end of the war? Free to read in our new Substack: thebellio.substack.com/p/trumps-ukr...

This week, The Bell's Peter Mironenko tackles the question on everyone's minds: could Donald Trump’s controversial peace plan lead to an end of the war? Free to read in our new Substack: thebellio.substack.com/p/trumps-ukr...

Russia’s economy is cooling down after rapid growth in 2024. The Q3 data has revived debates about whether Russia has already entered a recession. Russian authorities continue to insist there is no recession, pointing out unemployment has not risen and real wages continue to grow.

This week in Inside the Russian Economy, Alexandra Prokopenko and Alexander Kolyandr analyze how Russia’s economic slowdown is hitting harder, with worse still on the horizon, and look at Russia selling off its gold reserves. thebellio.substack.com/p/russias-ec...

For a limited period of time, Inside the Russian Economy is sharing The Bell’s full English coverage on our new Substack. Please subscribe to receive our expert analysis and never miss an update: thebellio.substack.com

This morning, The Bell’s Alexander Kolyandr and Alexandra Prokopenko outline how sanctions are really biting the broader Russian economy and the limits of Chinese-Russian "friendship”: thebellio.substack.com/p/new-sancti...

For a limited period of time, Inside the Russian Economy is sharing The Bell’s full English coverage on our new Substack. Please subscribe to receive our expert analysis and never miss an update: thebellio.substack.com

How long can Putin sustain his war with the West? Is Russia’s economy nearing a breaking point? What are the country’s elites really thinking? The Bell delivers clear-eyed, independent analysis from Russian journalists with deep insider access. Join us: thebellio.substack.com

This week The Bell looks into how Russia finances its war on Ukraine, and why it could be storing up problems for the future. Free to read on our new Substack: thebellio.substack.com/p/russia-wag...

"By the start of October, the proportion of non-performing loans made up 12.9% of all outstanding unsecured consumer debt." thebellio.substack.com/p/is-russia-...

Is Russia facing a debt crisis? This week we take a closer look at Russian banks under increasing pressure from a credit crisis. Free to read in our new Substack: thebellio.substack.com/p/is-russia-...

Alexandra Prokopenko: "Prominent political scientist Ekaterina Shulman and others were labeled as terrorists by the Kremlin. This can cause trouble even in the West. Moscow exploits this blind spot to punish dissent using the West’s own compliance system." carnegieendowment.org/russia-euras...

A sneak peak of our newsletter coming later today on foreign banks in Russia...please subscribe for free to our new Substack to read in full! thebellio.substack.com

Russia takes a step back from tax hikes it planned to slap on small businesses: thebellio.substack.com/p/tax-reform...

Europe ending the issuance of multi-entry visas for Russians will likely do little to stop nefarious actors and Russian spies infiltrating the bloc. A closer look in The Bell's latest Substack (free to subscribe!): open.substack.com/pub/thebelli...

This week, The Bell discusses the implications of Washington blocking a multi-billion Euro deal involving sanctioned Russian oil giant Lukoil, and a partial climbdown by the Russian government over its controversial tax hikes. Please follow our new Substack: thebellio.substack.com/p/lukoils-sa...

The Bell (en.thebell.io), the leading independent media covering Russia's economy, has joined Substack! We will be publishing, for a limited period of time, our English-language newsletters in full. Please join us & subscribe (it's free)! thebellio.substack.com

Is Russia's labor market cooling? The Bell's expert authors Alexandra Prokopenko and Alexandr Kolyandr take a closer look at the figures (free to read): en.thebell.io/is-russias-l...