What Kommersant, RBC, Vedomosti, Interfax and Forbes Russia report — selected and summarized in English every morning, for readers who don't read Russian. Analysis-grade sourcing, no wire rehash. Data context in the Russia Terminal. Regional wires: Central Asia · Caucasus.
The Central Bank plays down June's inflation spike as fuel-driven, customs data confirm the export pivot to Asia, and the EU struggles to close its 21st sanctions package before the 15 July deadline.
Consumer prices rose almost 0.9% in June, lifting annual inflation back to 6%, Deputy Governor Alexei Zabotkin said. He attributed nearly two-thirds of the monthly increase to one-off factors — the fuel price surge and a catch-up rebound in fruit and vegetable prices — while core CPI rose a more moderate 0.48% month-on-month and 5% year-over-year. The regulator "will not turn a blind eye" to fuel prices and inflation expectations ahead of its July rate decision; a detailed June breakdown follows on 15 July.
Source: Interfax, 14 Jul 2026
Federal Customs Service data for January–May show exports up 8.5% year-over-year to $177.4 billion and imports up 8.1% to $118.3 billion, lifting the trade surplus 9.4% to $59.1 billion. Exports to Asia rose 14.5% to $141.5 billion while shipments to Europe fell 8.4% to $23 billion; turnover with China alone grew 22.9% to $109.5 billion, per Chinese customs. Agricultural exports climbed 20.3% to $18.4 billion — more than 33 million metric tons, up 26% in volume, according to Agroexport — making farm goods a key growth driver alongside commodities.
Source: Kommersant, 14 Jul 2026
The EU's 21st sanctions package may include measures connected to Raiffeisen Bank International, Bloomberg reports, though member states have not yet agreed the package — restrictions on Russian LNG and the Raiffeisen question are the main sticking points. Members also failed to agree on freezing the oil price cap at $44.10 per barrel; without a freeze, the formula-based cap would rise above $60 in July, blunting the mechanism. RBI told Forbes the discussion concerns its disputed Strabag stake rather than restrictions on the bank itself, while foreign ministers did agree on 250 new listings covering banks, crypto operators and tankers.
Source: Forbes Russia, 14 Jul 2026
Russia suspended shipping through the Azov-Don canal and the Kerch Strait after attacks on 13 vessels, Reuters reports; ports in Azov, Rostov-on-Don and Taganrog have stopped accepting and dispatching grain. Azov Sea ports handle about a quarter of Russian grain exports, according to Eduard Zernin, former head of the Union of Grain Exporters, and the stoppage pushed global exchange wheat prices higher within days. The Transport Ministry says bulk cargo will be rerouted to other transport modes if the security situation requires it.
Source: Forbes Russia, 14 Jul 2026
Russian Railways loaded 16.9 million metric tons of export coal in June, up 19.6% year-over-year, with port-bound volumes rising 24.2% to 15.5 million tons. Shipments to southern ports grew 1.7-fold and to north-western ports 31.9%, while Far East ports took 9.6 million tons (+14.4%); coal's share of total rail loadings rose to 30.6% from 27.8% a year earlier. First-half export loadings reached 93.9 million tons, up 6.1% — a signal that export logistics still function despite pressure on the sector.
Source: Interfax, 14 Jul 2026