Russia consumer

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. Continue reading »