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Upsides for Steel Industry in a Russian Downturn, Despite Sanctions
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The steel and chemical industries are bright spots in the Russian economy, helping Russia weather the economic downturn of 2014-2015. Costs denominated in rubles have fallen much further increasing profits for companies like Severstal.
Severstal and the Russian steel industry- surging profits and growth with the decline in the ruble 2014-2015
06/16/2015
The steel industry and the chemicals industry are bright spots in the Russian economy, helping Russia weather the economc downturn in 2014-2015. Costs denominated in rubles have fallen much further, increasing profits and helping Severstal expand.
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Upsides for Steel Industry in a Russian Downturn, Despite Sanctions
New York Times 06/16/2015
Overheard: Ruble in the Rubble
Wall Street Journal 08/25/2015
Russia and Turkey Show Oil Prices Aren’t Everything
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U.S. Sanctions Give Russian Economy an Unintended Boost
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Faces in Russia during the economic crisis of 2014-2016- Anatoly Artamonov, governor of the Russia's Kaluga region, and plants of Severstal
03/17/2015
This account of life in the Kaluga region, a provincial city 110 miles south of Moscow, shows how Russia is coping with the 50% drop in the value of the ruble and the drop in oil prices below $50. Anatoly Karmanov, the able and energetic Russian who once ran a collective in the Brezhnev era, says its stupidity to have to hide that he talks to business people in other parts of the world to attract investment. VW plans to continue investment in the country, Continental AG is continuing production based on replacement demand for tires. The auto industry which provides about half of the output in Kaluga is hit hard, with the Association of European Business estimate of about 39% drop in production in Feb. 2015 compared to Feb. 2014. Only about 40% of production cost is from local parts at assembly factories, the rest is imported parts at the new ruble exchange rate, leading to a jump in prices and slumping demand.
Grouped Articles
How Looming Recession Is Unsettling One of Russia’s Boom Cities
Wall Street Journal 03/17/2015
Changing Course, Russia Will Sell Rubles Instead of Buying
New York Times 05/14/2015
Upsides for Steel Industry in a Russian Downturn, Despite Sanctions
New York Times 06/16/2015
U.S. Oil Prices Hit Fresh Six-Year Low, Dipping Below $40 a Barrel
Wall Street Journal 08/23/2015
Economist 08/24/2015
As Oil Keeps Falling, Nobody Is Blinking
Wall Street Journal 12/07/2015
Elvira Nabiullina, head of Russia's central bank, and efforts to use the decline in the ruble to reduce Russia's overdependence on imports
03/12/2013
Nabiullina is one of the liberal economists who see the period following the devaluation of the ruble in 1998 as generating higher economic growth because it lowered the cost for industry and agriculture. She sees the crisis as a way to get Russians to use less imports and promote import substitution for a healthier economy.
Grouped Articles
Putin Pledges Stimulus for Russian Economy
Wall Street Journal 06/21/2013
Russia Is Facing Stagflation, Central Banker Says
Wall Street Journal 01/17/2014
Russia Says It Has Weathered the Worst of the Economic Storm
Wall Street Journal 04/03/2014
Ruble’s Fall Tests Governor of Russia’s Central Bank
New York Times 02/09/2015
Russia, Brazil Mistakes Show How Inflation Can Still Arise
Wall Street Journal 05/03/2015
Changing Course, Russia Will Sell Rubles Instead of Buying
New York Times 05/14/2015
The impact of the declining ruble on the Russian economy by December 2014
12/04/2014
The ruble declines to 52 to the dollar by Dec. 2014, losing about 40% of its value in 2014. Oil prices decline to about $67 for Brent crude by Dec. 2014 accelerating the fall in the ruble.
Grouped Articles
Falling oil prices hit Russia much harder than Western sanctions - The Washington Post
Washington Post 12/04/2014
Washington Post 12/04/2014
Oil Prices Slip Further After IEA Report
Wall Street Journal 12/12/2014
Weak Ruble Keeps Russians at Home
Wall Street Journal 12/14/2014
Russia Moves to Help Lift Sinking Ruble
Wall Street Journal 12/16/2014
Oil Prices Plunge With Brent Crude Below $60
Wall Street Journal 12/16/2014
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