A series of severe financial crises over the past decade has undermined the confidence of the Belarusian population in their domestic currency. The level of FX savings there is even higher than in Ukraine.
On March 2019, Organized Crime and Corruption Reporting Project (OCCRP) revealed a vast offshore network that was used to channel billions of Euros out of Russia, relying on support of a major Russian bank.
The low rate of growth of the Russian economy is the result of many years of neglect, deepening isolation and the lack of a coherent economic policy.
Russia has recently launched a new power plant to make its Kaliningrad exclave electricity and gas self-reliant, as its EU neighbors unplug their power grids from Russia.
In February, EU officials agreed to amend the Gas Directive adding new rules for gas pipelines to and from third countries. The long-debated measure is aimed at the Russian-supported Nord Stream 2 pipeline.
Russia as a leading global producer and exporter of conventional natural gas underestimated the revolution associated with the development of the global liquefied natural gas (LNG) market.
On January 2019, the Central Bank of Russia (CBR) launched its new “fast payment system” (SBP) for a limited number of clients at 12 banks across Russia.
It is difficult to provide an assessment of the changes taking place in emerging economies. Their share in the global economy has increased and their markets have become more heterogeneous, but many structural reforms have not been completed.
The 2019 Economic Freedom Report by The Heritage Foundation shows that the world seems to be at a crossroads — it may continue on the path of economic freedom or it may return to hindered growth and development.
Russia has organized the most expensive World Cup in history. However, the execution of this investment fell on a period of rapid deterioration in Russia's economic and geopolitical position.