Russia Economic Calendar

Russia's economy has been shifting slowly from central planning to a more market-based one. Even though Russia's household income and wealth inequality are among the highest in the world's major economies, the country has one of the lowest external debt loads among the world's economies.

With Russia's invasion of Ukraine in 2022, the country has been subjected to a series of sanctions and boycotts imposed by the Western world and its allies, in what has been termed an "all-out economic and financial war" to isolate the Russian economy from the Western financial system. Many official economic statistics have not been published since the sanctions.

Russia possesses a huge proportion of the world's natural resources, which is a significant factor in determining its economic activities. As the nation with the world's greatest natural gas reserves and eighth-largest oil reserves, it has been commonly referred to as an energy superpower.

In terms of Agriculture, Russia is the world's largest wheat exporter and second-largest sunflower seed producer.

Another significant sector in Russia's economy is the defense industry, it is a major employer in the country and the second greatest exporter of armaments in the world, after the United States.

The Russian central bank is called the Central Bank of the Russian Federation (CBR). According to the constitution, it is an independent body whose main job is to protect the stability of the ruble (RUB), which is the country's currency. It has the only right to print ruble bills and coins through the mints in Moscow and St. Petersburg.

The Russian central bank (CBR) is also responsible for determining the official Interest Rate. High-interest rates entice international investors seeking the highest "risk-free" rate of return, which can significantly raise the demand for a nation's currency. A rate that exceeds expectations is bullish for the RUB, while a rate that falls below expectations is bearish.