Information on the current losses of Russia due to sanctions as of 03/16/2026.
1. Mobile internet is being disconnected in Moscow.
– Large-scale mobile internet disconnections are being recorded in Moscow. The restrictions have come as a surprise to residents and businesses and starkly contrast with the image of the capital as a technologically advanced city, which had long felt almost no consequences of Russia’s war against Ukraine.
– Disruptions are seriously affecting the operations of companies. It is estimated that business losses could amount to 1 to 2 billion rubles per day. In particular, there are failures in cloud IT infrastructure, problems with processing retail payments, and disruptions in logistics centers that critically depend on network access.
– The Financial Times notes that such restrictions are part of increasing state control over digital infrastructure. The Russian authorities are gradually expanding possibilities for total control of internet traffic, even despite significant economic losses for businesses.
2. Russians are massively withdrawing money from the banking system.
– In January 2026, Russian citizens withdrew over 1.6 trillion rubles from bank accounts and cards (excluding term deposits), according to data from the Central Bank of Russia.
– A larger outflow was only recorded in March 2022 due to financial panic following the start of the full-scale war against Ukraine, when 2.1 trillion rubles were withdrawn from banks.
– Meanwhile, only 468 billion rubles were returned to term deposits — less than a third of the amount withdrawn, indicating a reluctance among the population to place money back into the banking system.
– Reasons include increased banking oversight, rising tax pressure, and regular internet shutdowns in Russia.
– In a broader context, this dynamic may indicate a gradual increase in public distrust of the banking and payment system — a trend that has been almost absent in Russia since the mid-2000s.
3. The main bank of Russia’s military-industrial complex has recorded losses.
– PSB Bank, considered a key financial institution for the Russian military-industrial complex, ended 2025 with a loss of 19.2 billion rubles. For comparison, the previous year the bank earned 65.3 billion rubles in net profit.
– The main reason for the sharp deterioration in financial results was problems with loan repayments. Over the year, the bank was forced to create nearly 300 billion rubles in reserves for possible loan losses—three times more than in 2024. PSB is among the top five largest banks in Russia by assets and holds over 1 trillion rubles in personal deposits.
– Despite receiving almost 30 billion rubles in state support in 2025, the bank could not avoid a yearly loss—it became the first major bank in Russia to end the year in the red. The problems are not limited to PSB.
– Moscow Credit Bank, associated with Rosneft, also recorded quarterly losses, with a sharp increase in overdue loans. According to the Russian Central Bank, the volume of problematic loans in the country’s banking system has already reached 10.4 trillion rubles.
– In just nine months, debts that companies and entrepreneurs were unable to service on time increased by 1.9 trillion rubles. The rise in defaults affects, in particular, defense industry enterprises that have received tens of trillions of rubles in loans for military production in recent years.
– Even economists close to the Kremlin are beginning to warn of a hidden banking crisis forming in Russia.
4. Russia recorded the largest increase in utility tariffs in 16 years.
– At the beginning of 2026, Russians faced the most substantial increase in housing and utility service tariffs in the last 16 years. According to Rosstat, in January the average utility tariffs across the country increased by 15.02% year-on-year—this is the highest rise since September 2010.
– In no region of Russia did tariffs increase by less than 10%, indicating the scope of the hike. Certain utilities also became more expensive at record rates: cold water by +15.5% (a maximum since 2011); hot water by +16% (maximum since 2010); gas by +14.85% (the largest increase since 2014).
– The rapid rise in utility prices has sharply intensified social discontent. In March, 45% of Russians named the tariff increase as one of the main issues—the highest rate in the past five years.
– Meanwhile, the January increase is only part of the planned tariff revision. In October, the Russian government plans a new indexation, after which tariffs may rise by another 8–22% depending on the region.
5. The price of Russian oil in India reached a record level due to increased demand for Urals.
– Prices for Russian oil supplied to India have reached record levels. According to Argus Media, on Friday the price of Urals oil on the west coast of India reached $98.93 per barrel including transportation costs.
– This is the highest level since Russia reoriented exports to the Indian market following the start of the full-scale war against Ukraine in 2022.
– Meanwhile, the discount on Russian oil supplied to Indian ports has narrowed to $4.8 per barrel relative to the Dated Brent benchmark—this is the minimal level in more than four months.
– Meanwhile, the average price of Urals in western Russian ports stood at $73.73 per barrel—the highest level since mid-July 2024.
6. The European Parliament called for new sanctions against Russia due to the recruitment of foreigners.
– Members of the European Parliament adopted a resolution urging the EU and member states to impose targeted sanctions against individuals and organizations involved in Russia’s recruitment of foreigners to participate in the war against Ukraine.
– The document notes that deceptive schemes are used for recruitment, including social media content offering jobs or education. These campaigns are primarily aimed at residents of African countries, Cuba, South and Central Asia. MEPs also stated that hundreds of women were deceitfully recruited to work at Russian drone assembly enterprises.
– The resolution emphasizes that the increase in such schemes coincides with the strengthening of Russia’s influence in African countries. The document was adopted a few days after Putin signed a law prohibiting the extradition of foreigners serving under contract in the Russian army and participating in combat.
7. Brazil has sharply increased its import of Russian oil products.
– In February, Brazil significantly increased its purchases of oil products from Russia. According to Brazilian statistics, the import volume rose to $474.8 million, whereas a year ago it was $314.2 million.
– Thus, supplies increased by approximately 1.5 times year-on-year. It is estimated to be the highest figure for February in the history of observations.
– Official Brazilian statistics have published data on foreign trade since 1997. The increase in purchases occurred due to the redistribution of Russian energy exports following the imposition of Western sanctions, as Moscow actively redirects supplies to the Global South.
