Fact Check: Business Turnover in Russia Has Dipped Significantly
What We Know
Recent reports indicate that Russia's economic conditions are deteriorating, which could suggest a decline in business turnover. For instance, Russia's oil and gas revenue fell by 35% year-on-year in May 2025, amounting to 512.7 billion roubles ($6.55 billion) (Reuters). This decline in revenue is significant as it reflects broader economic challenges, including a widening budget deficit that reached 1.5% of GDP in the first five months of 2025 (Reuters).
Moreover, a survey conducted in June 2025 revealed that one in three Russian businesses reported worsening conditions, indicating a challenging environment for business operations (The Moscow Times). Additionally, industrial output growth in February 2025 slowed to just 0.2% year-on-year, the weakest figures in two years, which further supports the notion of declining economic activity (4FreeRussia).
Analysis
The claim that business turnover in Russia has dipped significantly is supported by various economic indicators. The sharp decline in oil and gas revenue is particularly alarming, as these sectors are critical to the Russian economy. The 35% drop in revenue suggests that businesses reliant on these industries may be facing significant financial strain, which could lead to reduced turnover.
The reported 1.5% GDP deficit and the forecasted increase to 1.7% indicate that the government is struggling to maintain fiscal stability, which can have downstream effects on business operations and investments (Reuters). The survey results, showing that 33% of businesses feel conditions have worsened, provide anecdotal evidence that many companies are experiencing difficulties, likely impacting their turnover (The Moscow Times).
However, it is essential to consider the reliability of the sources. The reports from Reuters and The Moscow Times are generally regarded as credible, providing data-driven insights into the economic situation. The 4FreeRussia think tank also offers a detailed analysis, although its focus on sanctions and economic challenges may introduce a bias towards highlighting negative aspects of the Russian economy (4FreeRussia).
Conclusion
The claim that business turnover in Russia has dipped significantly is Partially True. While there is substantial evidence pointing to a decline in economic conditions, particularly in key sectors like oil and gas, the overall picture of business turnover is complex. Some businesses may still be performing adequately despite the negative trends, but the prevailing indicators suggest a challenging environment that is likely affecting turnover negatively.
