Economic News | Russia

Bank of Russia cuts key rate to 14% Subscribe to @EconomicNews_Russia

Imports of essential medical devices simplified The Russian government has removed the fixed validity period for permits to import unregistered medical devices required by patients for vital medical reasons. These permits will now remain valid indefinitely until the products are actually imported. The application review period by Roszdravnadzor has been extended from three to four business days.

In 2025, the volume of foreign direct investment from friendly countries in the Russian economy increased 11.5-fold, reaching $25.3 billion. The main inflows came from China, India, Iran, Türkiye, and the Gulf countries.

The Bank of Russia names June’s best-performing asset Replacement bonds were the best-performing asset in June, delivering a total monthly return of 10.1%. Foreign-currency deposits ranked second, with returns ranging from 7% to 9.6%. Money market funds gained 1%–1.2% over the month. Corporate bonds also generated positive returns of 0.4%–0.8%. Other ruble-denominated assets, including equities, federal government bonds, bond funds, equity funds, and gold funds, posted negative returns. Russian federal government bonds, known as OFZs, fell by 3.3% in June, while gold declined by 2.3%. Equities recorded the largest losses, particularly in the chemicals, IT, and transportation sectors, where declines ranged from 13% to 16%. Subscribe to @EconomicNews_Russia

China’s cosmetics and perfume exports to Russia rise 74% in January–May 2026 In January–May 2026, shipments of cosmetics and perfumes from China to Russia reached $152.3 million, up 74%, while Russia’s total imports from China increased by 26%. The main growth driver was facial skincare products, with imports rising by 95% to $54.5 million. Decorative cosmetics increased by 54% to $34.4 million, while hygiene and shaving products rose by 38% to $37.6 million. The growth is being driven by several factors. Russian companies are increasingly moving contract manufacturing to China. Chinese cosmetics are replacing Western brands in both the mass-market and premium segments. Wildberries reports that sales of Chinese cosmetics on its platform are growing at roughly the same rate as sales of Russian brands, although domestic manufacturers still lead in total sales value.

Russia develops a domestically produced device for long-read DNA sequencing. The technology produces very long DNA reads, making genome assembly easier and helping researchers identify large structural variations. The device was developed by Nanoporus in collaboration with SkyGen as a domestic alternative to British technology. According to the developers, no comparably advanced Russian-made long-read DNA sequencing device is currently available on the market. Russia develops a domestically produced device for long-read DNA sequencing The device is made entirely from Russian components and can be used to sequence both plant and human genomes. The technology produces very long DNA reads, making genome assembly easier and helping researchers identify large structural variations. The device was developed by Nanoporus in collaboration with SkyGen as a domestic alternative to British technology. According to the developers, no comparably advanced Russian-made long-read DNA sequencing device is currently available on the market. The device is made entirely from Russian components and can be used to sequence both plant and human genomes. It is now undergoing the process of obtaining an ST-1 certificate, which confirms that the product is of Russian origin.

Marketplace importers: product listings must include links to certification records starting in September 2026. From September 1, 2026, e-commerce businesses listing goods on marketplaces and in online stores will be required to provide information confirming product compliance. This will include links to the relevant records in Russian or Eurasian state registries, along with the declaration or certificate number, its validity period, and details of the authority or certification body that issued it. The requirement will apply to a broad range of product categories, including electronics, cosmetics, and children’s goods. Where a product is not subject to mandatory certification, buyers must be clearly informed of this. The new rules form part of Russia’s Platform Economy Law and will not apply to peer-to-peer sales between individuals or to traditional brick-and-mortar retail. For importers bringing goods into Russia for sale through online channels, simply holding the required certificates will no longer be sufficient. Compliance records will need to be publicly verifiable through state registries directly from the product listing. Failure to provide this information may result in the product being blocked from sale. A unified multi-level system for verifying information in online product catalogues is scheduled to launch on October 1, 2026. Subscribe to @EconomicNews_Russia

Russia’s MOEX Index fell below 2,000 points for the first time since October 2022. The index broke through a psychologically important threshold that the Russian stock market had remained above for nearly four years.

Brazil would like to use national currencies in payments with Russia, Brazilian Ambassador Sergio Rodrigues dos Santos told RIA Novosti. According to him, to make this possible, the trade imbalance between the two countries needs to be adjusted. Currently, Russia’s exports to Brazil are eight times higher than Russia’s imports from Brazil, which amount to around $1.5 billion.

Due to the difficult fuel situation in Russia, a full ban on diesel exports is possible. Deputy Prime Minister Alexander Novak said that extreme measures are being discussed to ensure sufficient fuel supply for the domestic market.

The MOEX Russia Index is moving toward the lows seen in early 2022. Subscribe to @EconomicNews_Russia

Russia’s Ministry of Industry and Trade named the leading segments of Russian industrial exports State Secretary and Deputy Minister Roman Chekushov provided export figures for January–March: Metallurgical industry — $10.6 billion Chemical industry — $7.5 billion Mechanical engineering — $4 billion Timber industry — $2.1 billion Agricultural exports reached $10.7 billion, up 18.9% compared with the same period last year. Subscribe to @EconomicNews_Russia

The number of Russian cosmetics manufacturers has doubled in recent years Cosmetics made in Russia now account for 30% of the online segment and 20% of offline sales in Russia, according to Roskachestvo.

The EEC is preparing new duty-free quotas for Iranian vegetables and fruits for EAEU importers The Eurasian Economic Commission plans to expand the list of agricultural products from Iran that will be subject to duty-free quotas starting in 2027. The draft decision has been published on the Commission’s website. According to the document, vegetables and fruits will be added to the list, while quota volumes for next year will remain at the 2026 level. For Russia, the quotas include 18,800 tons of potatoes, 26,800 tons of tomatoes, 37,400 tons of cucumbers and gherkins, 86,700 tons of apples, as well as quotas for cabbage, beets, carrots, and canned tomatoes. In addition, a quota for the import of 5,000 tons of poultry meat and by-products from Iran is already in effect for 2026, with 1,000 tons allocated to each EAEU country.

The Bank of Russia cut the key rate to 14.25%, but warned of possible increase due to fiscal policy

Russian Direct Investment Fund (RDIF) and Vietnam are creating an investment bridge that may simplify imports from ASEAN RDIF plans to sign an agreement with Vietnam’s Sovereign Fund on joint investments in telecommunications, agriculture, and infrastructure. This could open new channels for Russian companies to import goods and services from ASEAN countries. RDIF CEO Kirill Dmitriev, speaking at the Russia–ASEAN Summit in Kazan, noted that the fund is already implementing projects with Indonesia through a €2 billion platform and is also cooperating with Malaysia. The new agreement with Vietnam will become another step toward deeper investment ties.

Russia has discovered more than 90 new mineral deposits in 2026, according to Oleg Kazanov, head of the Federal Agency for Mineral Resources. Most of the newly discovered deposits are placer gold deposits. Subscribe to @EconomicNews_Russia

Russian Post resumes parcel deliveries from the United States Postal operators in Russia and the United States restored inbound parcels shipments in late May after the service had been suspended since 2022. The first batch of parcels has already arrived in Russia. Deliveries are being routed in transit through third countries, according to Russian Post’s press service. Before 2022, the United States was one of the key sources of postal imports to Russia, with monthly volumes exceeding 50 tons. Most shipments consisted of goods purchased from online stores, including clothing, footwear, electronics and dietary supplements. Postal imports from the United States were restricted in spring 2022 due to major logistics disruptions caused by sanctions. The main reasons included the closure of airspace for Russian airlines, the suspension of direct flights, and the refusal of many international transit carriers and logistics partners to work with Russian Post.

EU flower sanctions did not lead to shortages: China and local greenhouses filled the gap Since October 2025, the EU has banned supplies of roses, azaleas, decorative foliage, and moss to Russia. Over the past eight months, the market has adjusted, with China taking over the vacated niche. In January 2026, more than 225,000 flower stems were imported from China to the Amur Region — four times more than a year earlier. Delivery times also improved, falling from one week to just 2–3 days. The share of domestic Russian-grown flowers increased from 14% in 2019 to 24% in 2025. The main suppliers are now China, Ecuador, Kenya, Armenia, and Belarus.

Inflows into the Russian stock market hit a record high, surpassing the 2021 level in Q1 Money inflows into the Russian stock market reached RUB 910 billion in the first quarter, up 45% quarter-on-quarter and 93% year-on-year. The share of contributions from qualified investors decreased from 60% to 59% over the quarter, according to the Bank of Russia’s “Review of Key Broker Performance Indicators for Q1 2026.”