Economy

Harvest in Hartagyugh, a village in Armenia's northwestern region of Lori. Over the past five years, food self-sufficiency has been steadily decreasing in the South Caucasus country of three million, due to low yields, uncultivated land and rising fertilisers and fuel prices. © Gayane Sargsyan

Armenian Farmers Brace for a Difficult Year

Geopolitics and lack of long-term vision threaten the country’s food security.

24 May 22

Russian troops occupied Volodymyr Semiryaga’s farm, in Peresadivka, a village in Mykolaiv region, for one week in March, destroying most of it. The area is now back under Ukraine's control but as fighting continues about 40 kilometres from his farm, the farmer cannot receive any credit to finance farming activities and purchase new equipment. © Oksana Cooper

Ukraine: How Russia is Emptying the World’s Breadbasket

Moscow is accused of using hunger as a weapon as it blocks ports, bombs storage facilities and takes grain reserves.

5 May 22

VTB Armenia, a subsidiary of VTB Bank, one of Russia's largest financial institutions, is feeling the bite of sanctions introduced against Russia in the wake of the invasion of Ukraine. Sanctions are impacting Armenia's economy, which is tightly interlaced with Russia's. © Arshaluis Mghdesyan

Sanctions Hit Russian Investments in Armenia Hard

Russia accounts for 40 per cent of financial outlay, and some companies are already suffering.

27 Apr 22

A view of the towers of Termoelectrica, Moldova's producer and supplier of thermal and electric energy in Chisinau. Moldova remains highly vulnerable in the wake of Russia's invasion of Ukraine. The government has not applied sanctions on Russia as the country's economy and its energy security are deeply dependent on Moscow. © Andreea Campeanu/Getty Images

Ukraine War Rocks Moldova’s Fragile Economy

Chisinau has not imposed sanctions on Russia, but is looking into economic alternatives to Moscow.

29 Mar 22

Central Asian Migrants Leave Russia

Millions from all over the region have historically travelled there to work, with their remittances playing a significant part in many countries’ economies.

25 Mar 22

After thousands of computers used to mine cryptocurrency overwhelmed the power grid in Georgia’s mountainous region of Svaneti at the height of winter, 200 residents gathered in the medieval church of St. George in Mestia, Svaneti's main centre, to take an oath on the ancient icon of the saint that they would never mine cryptocurrencies. © IWPR

Crypto Mining Overtakes Georgian Power Grid

Svaneti residents turned to ancient rituals to fight electricity shortages caused by virtual currencies.

24 Mar 22

The Russians Moving to Armenia

Business and private individuals hope to escape the consequences of Russia’s attack on Ukraine.

11 Mar 22

Tumbling Russian Rouble Leaves Kyrgyzstan Trembling

A weak currency and high inflation spells trouble for the Central Asian country’s economy.

3 Mar 22

Smoke is seen rising from buildings on February 26, 2022 in Kyiv, Ukraine. Explosions and gunfire were reported around Kyiv on the second night of Russia's invasion of Ukraine. © Pierre Crom/Getty Images

Ukraine: Impact of War on Central Asia

With the region’s fortunes deeply linked to the Russian Federation, analysts assess how Russia’s invasion is likely to affect economic and geopolitical realities.

1 Mar 22

Hryvna is the national currency of Ukraine.

Crisis Adds to Ukraine’s Economic Woes

Amid the looming threat of invasion, structural problems in the country’s economy need close attention.

15 Feb 22

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