Russia's president Vladimir Putin is telling investors the economy is in great shape but new growth figures are telling another story. YOU wouldn’t know it from the Chanel boutiques and Maserati dealerships lining the boulevards inside Moscow’s Garden Ring, but economic conditions in Russia are

A new wave of Western sanctions is hitting Russia’s economy hard. State-owned energy firms continue to bleed profits and Russia’s national currency plunged to a new low this week after the U.S. and the European Union announced new sanctions to punish Russia’s aggressive stance in eastern Ukraine.

Exxon Mobil’s ambitions in Russia appear to have been dashed, at least until the Ukraine crisis is resolved. As part of the latest round of sanctions against Russia, the United States government took aim at Exxon’s project in the Arctic Ocean, ordering American companies to cut off exports to

Rosneft is one of the companies targeted by the new sanctions European Union member states have formally adopted new sanctions on Russia over the Ukraine crisis. The new measures include restrictions on large Russian state-owned oil companies raising money on European financial markets. However,

Sanctions imposed by Switzerland on Russia are unfounded and are copying unfriendly steps by the United States and European Union, Russia's Foreign Ministry said in a statement on Thursday. "We view these decisions.... as unfounded and as showing that the Swiss people, to the detriment of their own