Russia’s invasion of Ukraine led to one of the worst economic crises in modern Russian history. The Russian service of the BBC talks about the main economic events of the day.

The founder and former owner of the Tinkoff bank, Oleg Tinkov, who has rarely spoken out lately, emotionally and mainly on Instagram, gave a long interview to Yuri Dudyu (recognized as a foreign agent).

The businessman said that he had not been to Russia for three years, had not managed a bank and, as he put it, “never collaborated” with the authorities. Therefore, he considers the British sanctions against him a technical error committed “in response to a huge crime committed by the Russian state.”

According to him, Tinkov himself was mistaken – when in 2017, in an interview with the same Dudyu, he proposed to make Putin emperor. The businessman “asked everyone’s forgiveness for this phrase” and once again added that it was sarcasm. Tinkov says he “never went to Putin” and was even at a rally against his next re-election.

Tinkov assures that he personally spoke with 12 of the 20 leaders of the Russian Forbes list and all of them are against the war. But they do not want to speak publicly, explaining that thousands of employees depend on them, and statements will not change anything. This position, according to Tinkov, is held by the founder of Magnit, Sergei Galitsky. The co-owner of Alfa-Bank, Mikhail Fridman, advised Tinkov himself to first sell the bank, and only then condemn the attack on Ukraine. But Tinkov, in his own words, replied: “Mish, I ***, I feel that way, I can’t be silent.”

If the forecast comes true, inflation in 2022 will be the highest since 2000: then it was 28.9%.

But not all the news from the report is bad. Its authors note that the fall of the ruble was almost completely reflected in prices (that is, until the exchange rate changes for the worse, one less factor in favor of inflation).

True, the exchange rate of the Russian currency causes more and more skepticism and less and less reflects reality. As Bloomberg found out , the association of traders working in emerging markets recommended that its members ignore the ruble exchange rate on the Moscow Exchange from June 6 and use other methods for determining it.

Due to “force majeure circumstances,” the operator of the gas transmission system of Ukraine from May 11 stops pumping gas through the Sohranivka and Novopskov stations, which are located in the occupied territory of the Luhansk region.

Transit through Sokhranivka – it accounts for a third of all gas supplies in the European direction through Ukraine, or about 8% of all European supplies of Gazprom – has already collapsed from the usual 24 million cubic meters for the last time to zero (this is the data of traders and hubs, cited by Reuters, S&P Global and ICIS).

The Ukrainians offered Gazprom to transfer transit to the north, to the Sudzha checkpoint – it is on the territory that Ukraine still controls. Gazprom considered the demands unfounded. There is no force majeure, according to the company, as well as obstacles to work in the previous mode.

We talked more about Gazprom’s relations with one of the largest transit countries here:

The Federal Air Transport Agency has suspended the publication of traffic statistics, Interfax reports citing a representative of the agency. Why is not officially explained.

Usually, the agency once a month published statistics on a number of indicators. In particular, how many passengers were transported by Russian and foreign airlines through points in Russia and how many passengers were served by airports.

From them, one could get an idea of the state of the industry as a whole, so the data was important for specialized analysts and journalists. In March, none of these indicators were made public, the BBC was convinced.