The Kyiv Independent
News, analyses, investigations, opinions, podcasts and more. On-the-ground reporting from Ukraine
Russian finance minister says GDP expected to grow 3.
Russia's GDP is expected to grow by 3.6% in 2024, matching the growth rate of the previous year, Russian Finance Minister Anton Siluanov said on April 19.
Russia's economy faced a shock and subsequent contraction after the beginning of the full-scale invasion of Ukraine in 2022. As the country weathered the onset of Western sanctions and growing isolation, Russia's GDP dropped by 2.1% in 2022.
Since then, Russia has managed to survive Western sanctions through a variety of methods, and has continued to bolster its economy through oil sales, particularly to India and China.
Siluanov said that "Russia is careful with the budget balance" and that the country's "budget deficit is about 1% of GDP."
The announcement followed comments earlier in the week from finance ministry official Lev Denisov, who said that the initial 2.3% estimate would be revised upwards due to the "strong growth of the economy" at the beginning of 2024.
The strong growth predictions raise questions about the effectiveness of Western sanctions and economic isolation. Sanctions against Moscow encompass a broad array of economic areas, including restrictions on trade, finance, technology and dual-use goods, industry, transport, and luxury goods.
The U.K. Defense Ministry suggested in November 2023 that Russia's economy was "at risk of overheating" due to increased military spending, shortages in the labor market, and growing inflation.
Russia's economy has nonetheless remained more resilient than expected, although it is increasingly dependent on fewer trade partners than before the full-scale invasion.
Surviving through the darkness: How Kharkiv endures new wave of brutal Russian attacks (Photos).
KHARKIV – In the face of relentless Russian attacks, prolonged blackouts, and a looming threat of a new major offensive, against all odds, life in Kharkiv continues to endure.Located just 30 kilometers from the Russian border, Kharkiv, Ukra...
US intelligence chief: Russia's war against Ukraine 'unlikely to end anytime soon'.
Moscow is likely to continue its "increasingly aggressive tactics" against Ukraine, including attacks on energy infrastructure, Director of U.S. National Intelligence Avril Haines said on May 2, according to Reuters.
Gazprom reports nearly $6.9 billion in net losses in 2023
The state-owned Russian energy giant Gazprom reported a net loss of 629 billion rubles (nearly $6.9 billion) in 2023, the company's largest profit downturn in decades amidst falling gas prices and a limited European market.
US military battalion to remain in Lithuania indefinitely.
The American military battalion stationed in Lithuania will remain in the country indefinitely, not just until 2025 as previously planned, Lithuanian Defense Minister Laurynas Kasciunas said on May 2.
White House: Russia supplies North Korea with fuel above UN cap.
Russia has been shipping refined petroleum to North Korea in volumes that may violate the U.N. Security Council's restrictions, U.S. National Security Council spokesperson John Kirby said on May 2, according to Reuters.
2024 Tony Awards nominees announced
The nominees for this year's Tony Awards are in with some big stars receiving nominations, including Eddie Redmayne, Sarah Paulson and Daniel Radcliffe. CBS News contributor Jamie Wax has more on who could win big at Broadway's biggest night. CBS ...
Watch Live: Maryland Gov. Moore gives update on Key Bridge cleanup progress - CBS News
Maryland Gov. Wes Moore is holding a press conference Tuesday to discuss progress made on clearing the wreckage of the Francis Scott Key Bridge from the Port of Baltimore. It comes after the first container ship arrived at the port since the bridg...
NYC mayor: NYPD will get involved in Columbia protests if the university requests it.
New York City Mayor Eric Adams told reporters Columbia University has asked for the NYPD’s presence outside of the private campus as pro-Palestinian protesters occupy a campus building and that police will get involved if requested by the universi...
Netanyahu vows to invade Rafah regardless of cease-fire deal outcome.
Israeli Prime Minister Benjamin Netanyahu remains defiant on carrying out a Rafah military offensive regardless of a potential temporary cease-fire and hostage release deal with Hamas. CBS News foreign correspondent Debora Patta reports on Netanya...
Green party candidate arrested for «violation» of campus policy.
CNN spoke with Green Party presidential candidate Jill Stein about her arrest at a pro-Palestinian protest at Washington University in St. Louis.
Morning News NOW Full Broadcast - April 30
Pro-Palestinian protesters at Columbia University occupy a campus building overnight, four officers are fatally shot while serving a warrant at a Charlotte home and Secretary of State Antony Blinken meets with Arab leaders in Saudi Arabia to reviv...