Economy

On July 11 Ukraine's wealthiest man, Rinat Akhmatov, announced he would exit his media business. The media holding includes Ukraina and Ukraina 24 TV channels, which before the full-scale war were among the most-watched channels in the country. By doing so, Akhmetov seeks to escape being officially classified as an oligarch in Ukraine.

Why Ukraine’s Steel Tycoon Closed His Media Empire

Last year’s oligarch law allowed the country’s wealthiest man to discard an unprofitable business without hurting his reputation.

11 Aug 22

Workers of the Borjomi water's two bottling factories in Georgia have been on strike for weeks over wages and uncertainty after the iconic Georgian brand was caught into the sanctions against Russia in the wake of the invasion of Ukraine. © Maradia Tsaava

Georgia Nationalises Iconic Mineral Water Due to Russian Sanctions

The instantly-recognisable brand has become a collateral victim of Russia’s invasion of Ukraine.

14 Jun 22

Businesses have been hit hard by Russia's invasion of Ukraine. Finca Coffee, a coffee roasting company, managed to relocate its operation from Hostomel, outside Kyiv, to Rivne, in western Urkaine as part of a ministry of economy's programme, which supports entrepreneurs to equipment and workers to safer areas. Smaller businesses, however, have to fend for themselves. © Vitaliy Koval Facebook page

Ukraine: Businesses Relocate to Safer West

With government help, hundreds of strategic enterprises have moved to the safer west of the country. Smaller businesses, however, have to fend for themselves.

13 Jun 22

Harvest in Hartagyugh, a village in Armenia's northwestern region of Lori. Over the past five years, food self-sufficiency has been steadily decreasing in the South Caucasus country of three million, due to low yields, uncultivated land and rising fertilisers and fuel prices. © Gayane Sargsyan

Armenian Farmers Brace for a Difficult Year

Geopolitics and lack of long-term vision threaten the country’s food security.

24 May 22

Russian troops occupied Volodymyr Semiryaga’s farm, in Peresadivka, a village in Mykolaiv region, for one week in March, destroying most of it. The area is now back under Ukraine's control but as fighting continues about 40 kilometres from his farm, the farmer cannot receive any credit to finance farming activities and purchase new equipment. © Oksana Cooper

Ukraine: How Russia is Emptying the World’s Breadbasket

Moscow is accused of using hunger as a weapon as it blocks ports, bombs storage facilities and takes grain reserves.

5 May 22

VTB Armenia, a subsidiary of VTB Bank, one of Russia's largest financial institutions, is feeling the bite of sanctions introduced against Russia in the wake of the invasion of Ukraine. Sanctions are impacting Armenia's economy, which is tightly interlaced with Russia's. © Arshaluis Mghdesyan

Sanctions Hit Russian Investments in Armenia Hard

Russia accounts for 40 per cent of financial outlay, and some companies are already suffering.

27 Apr 22

A view of the towers of Termoelectrica, Moldova's producer and supplier of thermal and electric energy in Chisinau. Moldova remains highly vulnerable in the wake of Russia's invasion of Ukraine. The government has not applied sanctions on Russia as the country's economy and its energy security are deeply dependent on Moscow. © Andreea Campeanu/Getty Images

Ukraine War Rocks Moldova’s Fragile Economy

Chisinau has not imposed sanctions on Russia, but is looking into economic alternatives to Moscow.

29 Mar 22

Central Asian Migrants Leave Russia

Millions from all over the region have historically travelled there to work, with their remittances playing a significant part in many countries’ economies.

25 Mar 22