“Customers not paying on time” was the most important problem for Russian companies

The Russian Union of Industrialists and Entrepreneurs (RSPP) published the results of a survey on the state of the Russian economy and companies for the third quarter of this year.

While 37% of the companies participating in the survey ranked customers not paying on time as the most important problem, payment problems with foreign companies ranked second with a share of 21% .

The tight fiscal policy implemented by the Central Bank of Russia was also among the factors that negatively affected the business world, while the shortage of personnel was cited as another important problem.

"The severity of the problems has increased due to worsening conditions for the transportation of products, instability in the foreign exchange market, and rising prices for domestic and imported goods," the survey said.

The Central Bank of Russia last raised its policy rate by 200 basis points to 21 percent on October 25, an all-time high.

On the other hand, the Russian banking system has been experiencing various problems since 2022 due to sanctions imposed by Western countries.

Electricity consumption limit imposed on individual cryptocurrency miners in Russia

The Russian government has set the regulatory framework for cryptocurrency miners in the country.

Accordingly, while miners are obliged to report the amount of cryptocurrency they obtain to the Federal Tax Service, individual cryptocurrency miners will not be able to exceed the electricity consumption limit of 6 thousand kilowatt-hours per month.