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...
The Bell
@thebellio.bsky.social
The Bell is the leading independent media covering Russia's economy. Founded in 2017 by a team of experienced editors, The Bell's experts write two newsletters per week with analysis of the most important economic news out of Russia: https://en.thebell.io/
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...
How Russia's economy changed in 2025
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
Revolut founder Storonsky Raises His Stake to 29%. The Holding Is Worth Nearly $25bn. en.thebell.io/revolut-foun...
Revolut founder Storonsky Raises His Stake to 29% | The Bell
Nikolay Storonsky’s stake in Revolut — Europe’s most valuable startup — has grown from 25% to around 29% since last year, Storonsky told journalist Elizaveta Osetinskaya in an interview.
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Russia's Central Bank prepares end-of-year cut: en.thebell.io/central-bank...
Central Bank prepares end-of-year cut | The Bell
Next week the Central Bank will take its final interest rate decision of the year, likely cutting borrowing costs by at least 50 basis points, to 16%, amid slowing inflation.
en.thebell.io
Phone scammers steal billions of dollars from Russians every year.
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...
Final battle for Russia's frozen billions
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
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...
Russia’s economy hit the brakes? The Bell Webinar
Join the authors of our weekly newsletter, Alexander Kolyandr & Alexandra Prokopenko for an hour-long dissection of Russia's economic unraveling
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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...
The Bell — A webinar and Q&A session with Alexander Kolyandr and Alexandra Prokopenko
Russia’s economy hit the brakes — is a full stop coming? December, 10
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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...
The Bell — A webinar and Q&A session with Alexander Kolyandr and Alexandra Prokopenko
Russia’s economy hit the brakes — is a full stop coming? December, 10
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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...
The Bell — A webinar and Q&A session with Alexander Kolyandr and Alexandra Prokopenko
Russia’s economy hit the brakes — is a full stop coming? December, 10
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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...
Russia approaching end-game of digital repression
This week we look at Russia’s intensifying assault on foreign internet platforms: new threats against WhatsApp, blocking of FaceTime and Snapchat, and increasingly sophisticated tools to block VPNs.
thebellio.substack.com
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....
The Bell — A webinar and Q&A session with Alexander Kolyandr and Alexandra Prokopenko
Russia’s economy hit the brakes — is a full stop coming? December, 10
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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...
EU puts Russia on financial blacklist
This week 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.
thebellio.substack.com
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....
The Bell — A webinar and Q&A session with Alexander Kolyandr and Alexandra Prokopenko
Russia’s economy hit the brakes — is a full stop coming? December, 10
pro.thebell.io
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....
The Bell — A webinar and Q&A session with Alexander Kolyandr and Alexandra Prokopenko
Russia’s economy hit the brakes — is a full stop coming? December, 10
pro.thebell.io
A strange rise in productivity: thebellio.substack.com/p/a-strange-...
A strange rise in productivity
Amid a general slowdown in industrial output, especially manufacturing (which we discussed last week), Russia’s federal statistics agency Rosstat unexpectedly reported a sharp rise in production...
thebellio.substack.com
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 Banks vs. Oligarch-Backed E-Commerce Giants
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.
thebellio.substack.com
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....
The Bell — A webinar and Q&A session with Alexander Kolyandr and Alexandra Prokopenko
Russia’s economy hit the brakes — is a full stop coming? December, 10
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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....
The Bell — A webinar and Q&A session with Alexander Kolyandr and Alexandra Prokopenko
Russia’s economy hit the brakes — is a full stop coming? December, 10
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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...
Wartime debts drag Russian businesses down
This week we 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.
thebellio.substack.com
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....
The Bell — A webinar and Q&A session with Alexander Kolyandr and Alexandra Prokopenko
Russia’s economy hit the brakes — is a full stop coming? December, 10
pro.thebell.io
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...
Russia starts selling gold reserves
The 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
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...
Trump's Ukraine plan: Peace on the horizon?
Hello! This week we, like everybody else, have our attention fixed on just one question: Could Donald Trump’s controversial peace plan lead to an end of the war?
thebellio.substack.com
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...
Russia's economic slowdown bites harder
This week, we 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