Following five years of stagnation, Germany’s economy is now 5% smaller than it would have been if the pre-pandemic growth trend had been maintained.

Iranian President Masoud Pezeshkian said on Monday that an agreement to transform Iran into a regional transit and gas hub is a prime example of cooperation between Tehran and Moscow.

Russia is now at a crossroads between a “soft” and “hard” economic landing next year,

In the conclusion of the St.Petersburg International Economic Forum,it is clear and evident that Russia has its hands firmly on the global economic growth steering wheel.Their calibration on the global compass remains top notch and success is all for the taking.

The government on Wednesday slashed its growth forecast for this year to 0.2% from 1.3%, after a contraction in 2023.

While the outlook is weak, the bank said it expects no major deterioration in the labour market, which has insulated the economy so far, and Germany was not facing a broad-based, prolonged recession.

"Oil prices at $80 is extremely comfortable for Russia," she said. "Maybe at $60-$70 it starts feeling the pinch, but we cannot start talking about crisis if Russia is selling oil at $60 or above."

The European Commission on Thursday said Germany will be the biggest drag on euro zone growth this year and next, with growth of only 0.3% in 2024 rather than 0.8% expected in November and 1.2% in 2025, after a 0.3% recession last year.

Urals, Russia’s main crude export blend, has traded at a significant discount to the Brent benchmark since the European Union banned almost all seaborne imports of oil and petroleum products from the country, and the Group of Seven industrialized nations imposed a price cap.

Real gross domestic product (GDP) increased at an annual rate of 2.7 percent in the fourth quarter of 2022, according to the "second" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent.