Russia consumer

As Russia steps up control of the internet, electronic payment processors are feeling the heat. Qiwi and PayPal cited security concerns when they halted co-operation with RosUznik, a Russian charity that supports political prisoners, this week. RosUznik suspects political motives.

Founded in late 2011 as a wave of anti-government protests erupted in Moscow, RosUznik collects charitable donations to help fund legal aid for opposition activists undergoing trial or in detention. Read more >>

What’s driving the Russian economy? If you believe it’s just oil and gas, think again. There’s a big consumer story going on, and it’s being overlooked.

That’s the message of a new report by Sberbank, a Russian bank, which argues that the extractive industries are overshadowing a sizable middle-class spending story that will make Russia Europe’s biggest consumer market and the fourth biggest in the world by 2020. Read more >>