Russia’s Economy Is Starting to Come Undone

Russia's economy is entering a long-term regression with strained government finances and a shrinking labor force. The ruble is down over 20% since November against the dollar. Russian billionaire Oleg Deripaska warned Russia is running out of cash and becoming ever more reliant on China.

March 29, 2023 . 7:35 AM

1 min read

Russia's economy is shifting to a lower-growth trajectory, with strained government finances and a shrinking labor force.
The ruble is down over 20% since November against the dollar.
Russian billionaire Oleg Deripaska warned Russia is running out of cash and becoming ever more reliant on China.
Russia has found ways to sell its oil to China and India, but the government's energy revenue fell by nearly half in the first two months of this year compared with last year.
The Russian economy is becoming more dependent on the state with much industrial production growth now coming from factories turning out military equipment.