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Russia’s economy grows 1.3% in Q2 2026

8/15/2026

33 8 Full Breakdown

Summary

Story summary

Russia's economy grew 1.3% YoY in Q2 2026, its first growth since 2023.
The deficit hit 6.46 trillion rubles in the first seven months of 2026.
Oil and gas revenues fell 17% to 64% of their level two years earlier.
Charles Lichfield of Atlantic Council and Elina Ribakova of Peterson Institute said the deficit will double 2025 level and war will not end unless oil prices drop to $35-$40 per barrel.

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Story summary

Russia's economy grew 1.3% YoY in Q2 2026, its first growth since 2023.
The deficit hit 6.46 trillion rubles in the first seven months of 2026.
Oil and gas revenues fell 17% to 64% of their level two years earlier.
Charles Lichfield of Atlantic Council and Elina Ribakova of Peterson Institute said the deficit will double 2025 level and war will not end unless oil prices drop to $35-$40 per barrel.