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 cut its key rate to 14% and trimmed its growth outlook, while the EU and the US widened trade restrictions and two long-running Western divestment cases moved forward.
The Bank of Russia lowered its key rate by 0.25 points to 14% on 24 July, the tenth consecutive cut since the 21% peak. The regulator called the summer price spike temporary — monthly inflation accelerated to 0.87% in June from 0.17% in May, and July inflation expectations reached a multi-year high of 14.7% — yet raised its end-2026 inflation forecast to 6–7% from 4.5–5.5% and cut its GDP growth forecast to 0–1% from 0.5–1.5%. The rate path still allows 13–13.5% by year-end, but the 2027 forecast was tightened to 10.5–12.5% from 8–10%, signaling slower easing ahead.
Source: Kommersant, 24 Jul 2026
The EU's 21st sanctions package, in force since 23 July, is the largest single expansion of the financial section of the Russia list. It covers the Moscow Exchange and lenders from Rosselkhozbank, DOM.RF Bank, Bank Saint Petersburg and MTS Bank down to dozens of regional banks, alongside Ozon Bank, Yandex Bank, Post Bank and payment operators Mobilnaya Karta and Platezhny Tsentr. Each listing further narrows the remaining payment channels for foreign companies still doing business with Russia.
Source: Interfax, 24 Jul 2026
Washington introduced import tariffs of 10–12.5% on goods from Russia and more than 50 other countries, citing insufficient enforcement against products made with forced labor. Russia and China fall into the top 12.5% bracket, effective 24 July, with goods already in transit taxed from 28 July; raw materials are exempt, according to Kommersant. Countries that agreed to restrict forced-labor imports, including Canada, the UK, India and Mexico, face the lower 10% rate.
Source: Kommersant, 24 Jul 2026
The US Treasury extended the license permitting negotiations on the sale of LUKOIL International GmbH, the holding company for Lukoil's foreign assets, from 25 July to 22 August; any transaction still requires separate OFAC approval. A January agreement to sell the unit to US investment firm Carlyle awaits clearance after Washington blocked an earlier deal with Gunvor. Lukoil has already written the unit off in full, booking a 1.66 trillion ruble impairment (roughly 21 billion US dollars) for 2025.
Source: Interfax, 24 Jul 2026
The UK group will sell its Russian household-chemicals and hygiene operations, about 1% of core net revenue, to Arnest and expects a post-tax loss of 175 million pounds (around 18 billion rubles) on the exit. Completion is targeted for the second half of 2026 pending UK regulatory approvals; Reckitt keeps its Russian health-products business. Arnest, which took over Unilever's Russian business in 2024 and Heineken's assets in 2023, continues its run as the main consolidator of departing consumer brands.
Source: Forbes Russia, 24 Jul 2026