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.
Kazakh crude exports through Novorossiysk stalled again, Russian business sentiment fell to a one-year low, and half-year results showed foreign banks and metals producers still earning well inside Russia.
The Caspian Pipeline Consortium suspended pipeline operations on 31 July but continues to take crude from shippers into storage, Kazakhstan's energy ministry said, with intake running at 100,000 tonnes a day from 1 August. The consortium had already stopped loadings on 30 July after the tanker NISSOS SIFNOS caught fire under attack while loading a Tengizchevroil cargo, the latest in a series of drone strikes on tankers at the terminal since mid-July. CPC shipped about 70.5 million tonnes in 2025 and plans 72 million tonnes in 2026; foreign shippers led by Tengizchevroil (Chevron), ExxonMobil, KazMunayGas, Eni and Shell account for more than 75% of throughput, so a prolonged outage lands directly on Western majors.
Source: Interfax, 1 Aug 2026
The RSPP business environment index dropped to 42.4 points in July, down 1.4 points from June and the weakest reading in a year; values below 50 signal deterioration. Logistics fell hardest, losing 3.8 points to 44, which the RSPP attributes to unplanned capacity losses at several large refineries, the resulting fuel shortage and disrupted supply chains. Counterparty non-payment was cited by 40% of respondents and falling demand by 33%; output contracted at 14% of firms against 9% in the first quarter, and 13% cut or deferred investment programmes.
Source: Kommersant, 31 Jul 2026
Raiffeisen Bank International earned €550 million from its Russian business in the first half of 2026, against a €437 million loss a year earlier, when the Central Bank debited nearly €1.9 billion from Raiffeisenbank to cover the Rasperia court award. Group profit after tax came to €1.371 billion, so Russia delivered 40% of it — even though Russian net interest income fell 13.2% to €780 million and operating profit dropped 29.4% to €772 million. Assets held on frozen "C" accounts rose 22% to €2.178 billion and remain unavailable to head office; RBI says it will resume efforts to sell the Russian business, but gradual wind-down stays the main strategy.
Source: Forbes.ru, 31 Jul 2026
Nornickel's first-half EBITDA rose 50% year-on-year to $3.9 billion, ahead of the $3.7 billion consensus, on revenue up 28% to $8.3 billion driven by base and precious metals prices. Free cash flow fell 20% to $1.2 billion as capital expenditure climbed to $1.4 billion from $1.1 billion and working capital rose to $3.4 billion from $2.9 billion, which the company attributes to temporarily higher receivables while it reroutes sales chains. Net debt held at $9.1 billion, or 1.3 times EBITDA at 30 June.
Source: Interfax, 31 Jul 2026
Russian Railways expects another record year with China, with volumes up 5.5% so far in 2026, chief executive Oleg Belozerov said; traffic with Belarus rose 3%. Countries Russia classes as friendly now account for more than 93% of the company's freight volumes. Traffic with Finland fell almost 25% and with Estonia 42%, leaving what Belozerov called a very small residual volume — a marker of how far westbound rail capacity has been written off.
Source: Interfax, 31 Jul 2026