Russia has quietly developed a crypto-fueled network of payments systems that's helped it evade Western sanctions over its war in Ukraine, BusinessInsider.com reported. That assessment comes from blockchain analytics firm Chainalysis, which said that it believes Russia had created a "shadow crypto economy" in the years following its invasion of Ukraine in order to sidestep financial punishment by the US and its allies. The report highlighted one crypto token in particular tied to Russian businesses trying to trade under the radar.

Nearly 20% of Russian property developers are at risk of bankruptcy due to plunging sales driven by high mortgage interest rates, Deputy Prime Minister Marat Khusnullin said, the Moscow Times reported. Khusnullin, who oversees housing and infrastructure in the government, warned that this figure could rise above 30% if financial conditions do not improve in the next six months. “By my estimate, about 20% of developers face serious risks,” he told the Vedomosti business daily.

President Trump is combining diplomatic overtures with economic threats to persuade Russia to end its war in Ukraine. Mr. Trump raised the stakes of his approach this week, when he announced plans to meet President Vladimir V. Putin, on the same day that he said he would punish India for buying Russian oil by doubling U.S. tariffs, the New York Times reported. Over the past month, Mr. Trump has repeatedly threatened to cripple Russia’s war economy if Mr. Putin doesn’t agree to a cease-fire, either by imposing new sanctions or by closing off the remaining markets for Russian oil.

U.S. President Donald Trump said on Tuesday he would increase the tariff charged on imports from India from the current rate of 25% "very substantially" over the next 24 hours, in view of New Delhi's continued purchases of Russian oil. He also said a "zero tariff" offer for imports of U.S. goods into India was not good enough, alleging that India was "fuelling the war" in Ukraine. Trump's threat to India over its purchases of Russian oil started on July 31, when he announced a 25% tariff for Indian goods, along with an unspecified penalty.

Russia’s central bank lowered its key interest rate for a second straight meeting amid mounting signs of a sharp slowdown in economic activity following two years of rapid expansion driven by government spending on the war in Ukraine, the Wall Street Journal reported. The Bank of Russia cut its key rate to 18% from 20% on Friday, having lowered borrowing costs in early June for the first time since 2022. That was in line with investor expectations.

Russia’s construction sector faces a wave of bankruptcies by the end of next year as sky-high interest rates squeeze companies across the industry, the head of Russia’s largest construction holding warned Monday, the Moscow Times reported. Alexei Krapivin, CEO of the construction giant Natsproektstroy, told the RBC news website that the Central Bank’s 20% key interest rate is choking access to capital, leaving many firms unable to service debts or fund ongoing projects. “Every company, without exception, is feeling the impact of expensive capital,” Krapivin said.

The European Union agreed to impose its toughest sanctions on Russia since its large-scale invasion of Ukraine, blocking attempts to revive the Nord Stream gas pipelines, lowering a price cap for Russian oil sales and hitting banks from third countries in a move that could exacerbate tensions with China, the Wall Street Journal reported. The sanctions package comes as President Trump has started increasing pressure on the Kremlin after months of seeking a peace deal between Ukraine and Russia. The White House now appears closer to the European view that the Kremlin won’t end the war.

Some of Russia’s top banking executives have concluded that the quality of their loan books is much worse than what official data show and have privately discussed the prospect of seeking a state-funded bailout should the situation worsen, Bloomberg News reported. At least three lenders the central bank has identified as systemically important have considered the possibility that they may need to be recapitalized in the next 12 months. Executives have discussed internally how they would raise the prospect with the Bank of Russia if needed.

President Donald Trump on Monday threatened to impose “secondary tariffs” on Russia’s trade partners “at about 100%” if President Vladimir Putin does not agree to a deal to end his invasion of Ukraine in 50 days, CNBC.com reported. “We’re very, very unhappy with them, and we’re going to be doing very severe tariffs, if you don’t have a deal in 50 days, tariffs at about 100%, they call them secondary tariffs,” Trump said from the White House while meeting with NATO’s secretary general, Mark Rutte.

Accusations against Mouzenidis Travel are becoming known, according to the bankruptcy trustee of the travel agency, who filed a complaint with law enforcement, Russian authorities for fraud and document forgery against the former heads of the once powerful travel operator, the trustee claims, MONEY & TOURISM reported. The communication includes details (VAT number, managers, etc.).