Russia has been struck with heavy Western sanctions over the war in Ukraine and its GDP growth looks to have taken a major hit.

Kherson region. Late on May 18, Russian shelling of residential areas in Ukraine’s southern oblast, or region, of Kherson, killed a woman and injured three other people; earlier the same day, a man was killed in a drone strike on the village of Vesele on the Dnieper River.

A leading economist has been telling EU finance ministers that Russia’s economy is under growing strain as its invasion of Ukraine drags on

The Kremlin has withstood pressure for an immediate cease-fire as a precondition for peace talks, but the Russian president’s push for normalizing relations with the United States appears in limbo.

As the full-scale war in Ukraine rages on for its fourth year, and Moscow’s defense and security spending continues at levels not seen since the Soviet era, Russia's economy has started to cool from its peak of 4.

Russia has spent most of its National Wealth Fund in the past few years, with liquid funds potentially being depleted in 2025, one economist says.

An International Monetary Fund monitoring mission started a new review of its $15.5 billion program to Ukraine on Tuesday, with discussions expected to focus on the war-torn economy and budget needs,