Russia is set to spend 6.3% of its GDP on defense this year — a post-Cold War high.

According to Russian Labor Minister Anton Kotyakov, the country needs to find the equivalent of 2 million workers per year over the next five years if the country’s industries are to fill vacancies left by people who are due to retire.

Russia's Minister of Economic Development, Maxim Reshetnikov, acknowledged at the St. Petersburg International Economic Forum (SPIEF) that Russia stands on the "brink of recession".

Ret. Lt. Col. Darin Gaub discusses Russia's latest attacks against Ukraine and a potential third round of peace talks on 'Fox Report.'

The latest Bank of Russia Financial Stability Review said the corporate sector has faced slight decline due to "serious delinquencies seriously increasing" among small businesses. They added that consumers are falling behind on payments.

U.S.-led sanctions on Russia aimed to isolate it from the world economy included freezing $300 billion in central bank assets and trying to target its main exports of oil and gas.

How much will the Russian economy grow? Western sanctions had a negative short-term impact on the Russian economy. According to the World Bank, it fell by 2.1% in 2022.

Russia's high recruitment bonuses, vital to help sustain its war effort in Ukraine, are putting a major strain on the country's economy.

Russia's economy is on the verge of sliding into recession and monetary policy decisions will now determine whether it falls into one or not, Economy Minister Maxim Reshetnikov warned on Thursday.

Russia’s economic output duly contracted by 2.1% last year, according to a preliminary estimate from the government. But the hit was more limited than forecasters initially expected.

What’s holding Russia’s economy back? This video breaks down the economic, political, and social factors that have left the world’s largest country with one of the weakest economies.