A new truce was arranged in Ukraine in February 2015, following a meeting involving the leaders of Russia, France and the German Chancellor. However, the very context of Minsk II Agreements repeats the numerous understatements of Minsk I Agreements and can be broken any time unless solid...

In March 2015, the topmost headline-makers were various economic issues, including the ongoing discussion on the new draft budget for 2015–2017 and on the future course of Russia’s economic policy. However, the beginning of March was also marked by two very serious and purely political...

In January 2015, the Russian Government approved a plan providing for 10% budget spending cuts (except defense, social benefi ts, agriculture costs and external debt repayment) and extensive fi nancial aid to the banking sector. Most of the proposals on supporting small businesses and lowering...

In December 2014, Russia’s authorities faced a severe foreign exchange crisis, which forced them to increase the CBR key interest rate to 17% and to order a number of major state-owned companies, including Gazprom and Rosneft , that their foreign exchange reserves should be brought back to the...

In September 2014, the RF Government approved a draft budget for 2015. In so doing it rejected the idea of increasing taxes and found an intermediate solution for the preservation of the funded component of labor pension without, however, making a fi nal decision as to its future. On the other...

In July 2014, against the backdrop of an escalating confl ict in Ukraine and the crash of a civilian passenger airliner in the active combat zone there, the OECD’s sanctions against Russia were severely toughened. A ban was imposed on the issuance of long-term loans (for periods over 90 days)...

In August 2014, Russia’s authorities announced that the funded component of labor pensions would remain frozen in 2015 – something that they had previously adamantly denied. This decision is fraught with numerous negative long-term consequences, including the erosion of the impetus to be...

The situation in eastern Ukraine and Russian-Ukrainian interstate relations saw a certain de-escalation in June 2014. In particular, Russia recognized new Ukrainian President P. Poroshenko. However, the situation remains to be tense. The east Ukrainian armed groups cannot see how they may exist...

Although January 2014 saw few politically or economically significant events, it certainly witnessed an upsurge of debates on economic issues. Thus, top government officials, including Prime Minister Dmitry Medvedev, expressed their somewhat conflicting views on Russia’s economic policy at the...

Tensions in the eastern Ukraine were eased a bit in May 2014, although the causes of the confl ict still remain to be resolved. There is a fragile balance today between the Ukrainian military forces and the armed groups of supporters of federalism in Donetsk and Lugansk regions. In the...