Russian Business Media Digest

Russian central bank signals no early rate cuts, while the collapse of a major Moscow-region fuel retailer and renewed ruble pressure add to the day's economic news.

Bank of Russia: no rush to cut the key rate

Governor Elvira Nabiullina told the State Duma that a rate cut should not be rushed, as it could raise interest rates and prices and create new difficulties for companies. She said the bank did not consider a cut in September or October, citing supply constraints after attacks on refineries and other industrial sites. Room for easing would open only as capacity recovers. The key rate was held at 14% on 23 October, and inflation stood at 6.4% at end-September, according to Kommersant.

Source: Kommersant and Interfax, 9 Nov 2026

Moscow-region fuel chain Trassa ceases operations

All 53 Trassa filling stations in the Moscow region have stopped working, the regional energy ministry said. Lessor Gazprombank Leasing is repossessing all 57 stations of owner EuroTrans, and about 1,400 employees are on forced downtime. EuroTrans defaulted on its public bonds by early September, and a Sberbank bankruptcy petition is due for a hearing on 12 November. Trassa ranked second by sales among independent operators in Moscow and the region.

Source: Interfax, 8 Nov 2026

Ruble under pressure as oil falls

The yuan rose to 12.315 rubles on the Moscow Exchange at the open, with the ruble weakening alongside cheaper oil. PSB analysts do not rule out further pressure early this week, with the dollar possibly consolidating above 83 rubles; the dollar rose to 82 rubles last week. Brent fell 16% last week, the steepest weekly drop since 2020, and traded at $97.72 a barrel on Monday morning, according to Interfax.

Source: Interfax and Interfax (oil), 9 Nov 2026

Central bank expects restrained credit growth next year

Nabiullina said credit growth in 2027 should stay restrained to bring inflation down, at roughly the pace of this year. The bank's October medium-term forecast puts growth of the banks' loan portfolio at 5-10% in 2027, against 8-11% for 2026. She added that the government's plan to reduce the budget deficit gradually supports the same goal.

Source: Interfax, 9 Nov 2026

Maldivian bank returns payments linked to Russia

The Russian Union of the Travel Industry asked the Economy Ministry and Russian diplomatic missions to help resolve payment problems for tourist accommodation in the Maldives. Bank of Maldives warned that payments connected with Russia would be returned; tour operators met this on 18 October when foreign legal entities paid for hotel bookings. Operators bear bank commission costs, and hotels that receive no payment may demand repayment or refuse accommodation.

Source: Interfax, 9 Nov 2026