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 Bank of Russia pairs a rate cut with a weaker 2026 outlook, Brussels rethinks how it passes sanctions, and Gazprom reports another export record to China.
The Bank of Russia lowered its key rate to 14% on 24 July and now expects GDP growth of 0–1% this year, down from 0.5–1.5% in its April forecast. The inflation projection rose to 6–7% from 4.5–5.5%, driven by a summer fuel-price shock the regulator calls temporary. The economy ministry puts May GDP growth at 0.3% year-over-year, after 1.3% in April — for foreign firms, the message is easing borrowing costs against visibly slowing demand.
Source: Kommersant, 27 Jul 2026
The European Commission is examining faster, more targeted sanctions measures to limit single-country vetoes, the Financial Times reports, after Greece held up a package to win an exemption for LNG carrier Dynagas. Officials increasingly favor small thematic blocks over large packages. The bloc adopted its 21st package last week: more than 100 banks and crypto operators, several refineries in Russia and Belarus, over 40 shadow-fleet vessels and 48 individuals. A shift to rolling, targeted measures would make EU sanctions timing harder to predict for compliance planning.
Source: Forbes Russia, 27 Jul 2026
Gazprom says pipeline gas deliveries to China set a new daily record on 25 July, the third this year, without disclosing the volume. The Power of Siberia line reached its design capacity of 38 bcm a year — roughly 110 mcm a day — in late 2024 and ran near 112 mcm a day during the December–January winter peak. Gazprom agreed with CNPC last autumn on a possible expansion to 44 bcm a year but has not said when flows would rise. China remains the main growth outlet for Russian pipeline gas.
Source: Interfax, 26 Jul 2026
KAMAZ, Russia's largest truck maker, has scrapped the reduced four-day workweek it had ordered for August–October, citing higher order volumes and an upward revision of its production plan. The company resumed output on 27 July after a corporate vacation from 13 to 26 July and targets an average of 160 vehicle kits a day. The March order for short-time work had been a marker of the truck market's slump; its cancellation is the first company-level signal of stabilization.
Source: Interfax, 27 Jul 2026
Rosselkhoznadzor barred dairy imports from all Armenian producers from 27 July, after a 14–21 July inspection found milk from infected herds and third-country raw materials in products shipped to Russia. Industry body Soyuzmoloko says the impact on the Russian market is minor: self-sufficiency in dairy exceeded 85% in 2025 and Belarus supplies about 90% of imports. The move extends existing bans on Armenian fish and plant products and adds friction to intra-EAEU trade.
Source: Interfax, 27 Jul 2026