A man smokes outside a currency exchange office while an electronic information panel shows the latest exchange rates, in Moscow. Photograph: EPA/Yuri Kochetkov

With the latest surge in bloodshed in Ukraine and tightening of western sanctions, the country’s crisis seemed to lurch, not closer to a resolution bu(...)

Red Square, Moscow: Russian president Vladimir Putin and his allies are not expecting Russians to survive on patriotism alone. Photograph: Maxim Shemetov/Reuters

With no end in sight to a slump in oil prices that halved the rouble’s value against the dollar last year, Russia has urged its people to tighten thei(...)

A man walks past a branch of Bank of Cyprus in Nicosia . Photograph: Yorgos Karahalis/Reuters

Russia has ruled out bailing out people or companies that stand to lose money held at Cyprus's two largest banks. "If someone gets stuc(...)

Russian prime minister Dmitry Medvedev  chairing a meeting with his deputies at the Gorki state residence outside Moscow yesterday. Photograph: Ekaterina Shtukina/Reuters

Moscow has agreed to consider easing the terms of a €2.5 billion loan to struggling Cyprus, while also demand(...)

International Monetary Fund mission chief Delia Velculescu and European Commission representative Maarten Verwey arrive for a meeting with Cypriot president Nicos Anastasiades at the presidential palace in Nicosia yesterday. Photograph: Reuters

Cyprus drew a blank from its first day of intensive talks with Russia on possible financial aid that could help the island (...)