Economy

Taxi drivers in Russian regions are less likely to go online amid a fuel crisis

A taxi shortage has emerged in several regions due to gasoline shortages. Drivers are less likely to go online due to fuel problems, the newspaper Kommersant reports, citing market participants.

Putin Acknowledges Fuel Shortage, Resellers Detained. Data on Restrictions Lacking in Only Two Regions. Summary for June 29

In an interview on June 28 with Russia's television channel, Vladimir Putin admitted that there is a fuel shortage in the country and that Ukrainian army strikes on energy infrastructure "create problems." He described the shortage as "not critical" and stated that Russian authorities will focus on increasing air defense system production and combating drones to address the issue.

The government intends to lower fuel standards to "Euro-2"

The Russian government may allow the production and circulation of "Euro-2", "Euro-3", and "Euro-4" class gasoline and diesel fuel until July 2027, according to Kommersant, citing a draft decree. The sale of "Euro-2" has been banned in Russia since 2013.

Investment winter is near. A sharp drop in investment heralds a long-term structural crisis in the Russian economy

Investment in fixed capital in Russia continues to fall for the fourth quarter in a row. In January-March 2026, it amounted to 6.6 trillion rubles - 14% less than a year ago, Rosstat reported. And by the end of 2025, it decreased by 2.3% - the first annual decline since 2020.

High alert regime introduced in Irkutsk region due to fuel crisis. Queues at gas stations will be patrolled by the Ministry of Internal Affairs and Rosgvardia

A high alert regime has been introduced in the Irkutsk region due to a fuel crisis, the governor of the region Igor Kobzev reported. According to him, this is necessary to prevent an emergency situation amid fuel shortages.

Russian banks start restricting access for foreigners from "unfriendly" countries to deposits after new Putin decree

Some non-resident citizens serviced by Russian banks have faced restrictions on accessing money in accounts and deposits since early June, RBC writes. Customers of T-Bank, Sberbank, and VTB told the publication about such cases. Similar messages about them, as well as about Alfa-Bank, appeared in thematic chats and in the "People's Rating" on the Banki.ru project.

Carriers Warn of Rising Freight Costs Due to Fuel Shortage

Russian carriers have begun sending clients notifications about price increases for cargo transportation due to the fuel crisis. Kommersant reports this, citing representatives of logistics companies.

Russia Reduces Mandatory Gasoline Sales Quota on Exchange from 15% to 10%

Russian Deputy Prime Minister Alexander Novak announced that the government has reduced the mandatory gasoline sales quota on the exchange from 15% to 10% for three months, starting July 1. This was reported by Kommersant.

Helicopter of Saudi Aramco crashed in Saudi Arabia, 14 people died

In the city of Ras Tanura in eastern Saudi Arabia, on the shore of the Persian Gulf, a helicopter belonging to the oil company Saudi Aramco crashed. As a result, 14 people died. This was reported by Reuters.

Trump Promised 100% Tariffs for the EU Over Digital Services Tax on American Companies

US President Donald Trump threatened to sharply increase tariffs for European countries if they introduce a digital services tax for American technology companies, The Wall Street Journal reports.

"I looked at the gasoline situation and closed the cafe before I went bankrupt." How Crimea is experiencing the resort season without light and fuel

In June, the lives of Crimeans changed dramatically. Until then, their measured life was interrupted only by rare air raids in Sevastopol, but since the beginning of summer, the news has been getting worse and worse: a carriage of the Grand Service Express passenger train, the main railway carrier on the peninsula, caught fire, the station in Dzhankoy, which was hit by the station building, was closed, then gasoline disappeared from free sale, the power plant in Simferopol was put out of order, and electricity supply was restricted.

"Loyalty is valued more than intellect." Sergey Aleksashenko

In the new issue of the program "Guns or Butter," Ekaterina Mereminskaya and economist Sergey Aleksashenko discuss why the Central Bank is afraid to lower the key rate faster...