Yandex.Market changes its Game

Russian business daily RBK reported that the leading Russian online search engine Yandex.ru decided to change the rules for featuring products on its marketplace Yandex.Market. The new system gives preference to the products sold directly in Yandex’s store, which is currently the option of choice for approximately 20% of the suppliers present on the marketplace….

Privation on the Rise in Russia

Gazeta.ru reports that the disposable real income in Russia dropped by 8.3% on a yearly basis in August 2016. This turns out to be an even worse drop than the one registered in August 2009, when the disposable income fell by 8.2%. Real income in Russia continues to fall at an increasing rate – the…

Russia Adds Salt to the Sanctions List

…but not just to hurt the biggest exporter of salt to Russia that happens to be Ukraine.  Business daily Vedomosti reports that the Russian Government added salt to the list of banned imports, a countermeasure to the western sanctions introduced after Russia annexed Crimea in March 2014. Salt suppliers from the Ukraine, United States, European…

Yevtushenkov on Arrests of Russian Businessmen: “This is Our Homeland”

Russian portal Slon.ru published a transcript of the interview with Vladimir Yevtushenkov, Russian businessman who enjoyed USD 9 billion of his worth before he was apprehended for participation in the allegedly illegal privatization of Bashneft oil company that the Russian Government seeked and managed to annul, apparently for the purpose of re-privatization (in lack of…

Should Russians Brace for a Tax Hike?

According to Vedomosti.ru, the Russian Ministry of Finance believes that balancing the federal budget in the short term will require the Government to sell assets, drain the reserve funds and rise taxes. In order to cut the deficit from the projected 3.2% of GDP in 2017 to 1.2% of GDP in 2019, the Ministry of…