Russia’s war-driven tax squeeze pushes small businesses to the brink
Traders struggle to keep operating as Moscow raises VAT to 22% and slashes exemptions for SMEs
Traders struggle to keep operating as Moscow raises VAT to 22% and slashes exemptions for SMEs

Dwindling oil revenues and a widening deficit may force Moscow to cut some non-military spending in this month’s budget

Guidelines issued to state-controlled media said Russia’s president should not be personally linked to VAT rise

Second reduction in two months lowers borrowing costs to 18%

Price increases show that western restrictions are limiting Moscow’s capabilities, Bank of Finland research finds

Maxim Reshetnikov says persistent inflation and central bank’s hawkish policy contribute to slowdown

Moscow now expects growth of 0.4% this year compared with previous forecast of 1.3%