World Business Report What is the real state of Russia's wartime economy?
Jun 18, 2025
Steve Rosenberg, BBC's correspondent at the St. Petersburg economic summit, delves into the complexities of Russia's wartime economy. He discusses the emotional impact of rising prices and high interest rates on everyday citizens. The conversation also shifts to Tehran, revealing the human toll of escalating conflict, and addresses the innovative solutions emerging from Africa amid inflation. Lastly, the podcast touches on Netflix’s strategic partnership with a French broadcaster, highlighting the changing landscape of media consumption.
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Life Under Bombardment in Iran
- Iranian citizens describe extreme hardship due to bombardment and economic fallout in Tehran and surrounding areas.
- Many face power outages, food shortages, and disrupted banking services during ongoing Israeli missile strikes.
Russia's Economic Balancing Act
- Russia's economic forum aims to show resilience despite Western sanctions and wartime pressure.
- Rising Middle East tensions initially boosted oil prices, but risk losing key ally Iran, complicating Russia's geopolitical position.
Russian Business Struggles with Loans
- Pavel Borin, Russian businessman, explains how high interest rates (21%) severely strain companies, forcing price increases to survive.
- Despite slight rate cuts, conditions remain tough, and business growth is stifled, with many just trying to stay afloat.