Economy

India launches credit plan for small businesses and airlines hit by Middle East crisis

India has approved a plan to support small businesses and airlines hit by the Middle East conflict, enabling fresh credit and loan guarantees

Global aviation shock to bring food shortages and energy lockdowns

The global aviation shock prompted by the oil price surge is set to hit other industries as well, Vladimir Putin’s envoy Kirill Dmitriev believes

Hormuz and the end of the old oil order

The Middle East conflict makes clear that great-power politics now matter as much as OPEC quotas and output

Moscow-Africa exports surge in early 2026

Trade between Moscow-based companies and Africa has expanded rapidly in 2026 as exports surged 52-fold year-on-year fueled by electronics, IT, and food shipments

China’s sanctions pushback marks a new phase in the oil war with Washington

Beijing’s injunction against US refinery sanctions could mark a turning point in China’s response to Washington’s economic pressure on trade

Serbia sees Russian gas supply terms as favorable

Nenad Popovic stressed that energy cooperation with Russia remains a key factor in the stability of the Serbian economy

Gazprom Neft in talks on NIS stake sale with MOL only

According to the company, the required corporate and regulatory procedures are being implemented now

Economist reveals what pension will be without work experience

Lack of work experience does not leave a Russian without a pension; such citizens can count on a social pension, but subject to certain conditions,... RIA Novosti, 06.05.2026

Chevron warns of looming global oil shortages amid Hormuz crisis

Chevron CEO Mike Wirth warns that global oil shortages could hit within weeks as Hormuz remains shut, sending prices to multi-year highs

UAE exits Arab oil group OAPEC after breaking with OPEC, OPEC+

The UAE has withdrawn from OAPEC days after exiting OPEC and OPEC+, citing a strategy to gain greater flexibility over oil output

EU economy falling behind global rivals, Belgian central bank chief says

The EU is “not competitive” globally as high energy costs weigh on the bloc’s industry, Belgian central bank chief Pierre Wunsch warns

Trump aide claims 'extreme calamity' looming in Iran

White House economic advisor Kevin Hassett has claimed that Iran’s economy is nearing an “extreme calamity”