From bakeries to beauty shops, Russian businesses are feeling the pain from a new wartime tax policy

Denis Maksimov’s bakery in suburban Moscow became famous overnight after he appeared on President Vladimir Putin’s annual call-in show in December. Standing in front of the bakery — called Mashenka, after his oldest daughter -– he pleaded with Putin via video to look into new tax reforms that are significantly increasing the burden on small businesses like his. As Putin’s full-scale invasion of Ukraine marks four years, the mounting pressure on Russia’s economy is starting to show.Read More