The amount that Russia's addicts spend on drugs each year is 50 percent more than the nation's annual defense budget, the head of the Federal Drug Control Service has said.
Russian billionaire Victor Kharitonin has bought a majority stake in the famous Nurburgring German Formula One race track after a local buyer failed to make good on his bid.
Concerns are rising among US businesses in Russia that Washington lawmakers could move to enshrine sanctions on Russia in new legislation, extending their impact and delaying their repeal.
WARSAW -- Prime Minister Viktor Orbanof Hungary said on Oct. 31 that his government would abandon, at least for now, a proposed tax on Internet usage that drew tens of thousands of demonstrators to the streets this week.
The Russian central bank's gambit worked for all of about two minutes today.
The European Union launched a trade dispute at the World Trade Organization on Friday to challenge Russia's treatment of European exports of paper products, refrigerators and palm oil, the EU and the WTO said.
Russia has been accused of blocking the creation of the world's largest marine protected areas (MPAs) in the Southern Ocean, with frustrated negotiators blaming diplomatic tensions over the war in Ukraine and the downing of Malaysian Airlines flight MH17.
MOSCOW - Russia's central bank raised its main interest rate much more than expected on Oct. 31, trying to tackle a sliding ruble and climbing inflation as plunging global oil prices and Western sanctions hurt the economy.
MOSCOW - CTC Media, which owns the Russian television channels CTC, Domashny and Peretz, has felt the impact of sanctions against Russia, although the company itself is not subject to these sanctions.
MOSCOW - Russia's central bank has raised its main interest rate by more than anticipated as it tries to stem the ruble's fall.
Russia's central bank has raised its key interest rate to 9.5 percent from 8 percent as it seeks to tackle inflation. The 1.5 percentage point increase was higher than expected, with analysts having forecast a rise of 0.5 percentage points.
Russia's central bank increased its benchmark interest rate more than forecast by economists, bringing it to the highest level since it was introduced 13 months ago to halt a currency run that's stoking inflation.
The ruble slid, heading for its worst month in more than two years, amid speculation that Russia's central bank won't adopt an aggressive policy response to halt the depreciation at a meeting on Oct. 31.
The ruble weakened on morning before a key Central Bank meeting at which policymakers are expected to raise interest rates in a bid to rein in the currency's recent plunge. The ruble fell 1.5 percent against the U.S. dollar to trade at just under 42.5 to the greenback, shortly after midday in Moscow.
Russia's second-largest lender VTB Bank is seeking up to 200 billion rubles ($4.77 billion) in state support to boost its capital, the Vedomosti newspaper reported on Friday, citing a government source and a source at the bank.
Moscow - South Stream B.V., the Netherlands-based design company for the construction of the offshore section of the South Stream gas pipeline, asked the Dutch authorities for permission to purchase services and equipment for the project after the European Union imposed sanctions against Russia.
A Russian actor wearing a helmet marked "Press" has been caught on video firing a machine gun from a battle site in eastern Ukraine, in a stunt that provoked outrage on Russian and Ukrainian social networks.
Chisinau - Romanian President Traian Basescu has said he wants to receive Moldovan citizenship and looks forward to seeing the two countries unify.
WASHINGTON - When the White House discovered in recent weeks that its unclassified computer systems had been breached, intelligence officials examined the digital evidence and focused on a prime suspect: Russia, which they believe is using its highly sophisticated cyber capabilities to test American defenses. But its tracks were well covered, and officials say they may never know for sure.
Russia will remain a reliable supplier of energy to Europe and a natural gas deal struck with Ukraine will ensure stable gas deliveries over the winter, Russian Energy Minister Alexander Novak said on Oct. 30.