1 November 2026
Seven oil producers that take part in the OPEC+ cooperation met online and agreed to leave their output targets alone for December. The seven are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman. Their required production for December 2026 stays at the level fixed for September 2026, so no fresh increase or cut was announced. Russia is the largest producer in this group that is not a member of OPEC itself; it works with OPEC through the wider OPEC+ arrangement. The group said it would meet again on 29 November 2026. Because Russia's budget leans heavily on oil and gas receipts, these joint output calls matter for its revenue.
Countries in the group:
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, Oman
Decision:
Maintain September 2026 required production for December 2026
Next meeting:
29 November 2026
Why it matters for exams: The seven-country OPEC+ voluntary-adjustment group - Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman - is a standard list question.
Kerala PSCUPSC
In plain words
OPEC+ OPEC plus allied non-OPEC producers — A wider group in which Russia and other non-members coordinate output with OPEC.
23 October 2026
The Board of Directors of the Bank of Russia decided to leave the country's key rate unchanged at 14.00% a year. Governor Elvira Nabiullina announced the decision after the meeting and said underlying price growth had not yet come down. The central bank now expects inflation of 7.1-7.6% for 2026, higher than the figure it had put out in July. Its baseline view has the key rate averaging 12.5-13.5% through 2027, with inflation easing back to 4.0% that year. The key rate is the Bank of Russia's main policy instrument, and it is set only by the Board of Directors. The next rate meeting is scheduled for 18 December 2026.
Key rate:
14.00% per annum
Inflation forecast for 2026:
7.1-7.6%
Next rate meeting:
18 December 2026
Why it matters for exams: The Bank of Russia is Russia's central bank, its policy instrument is called the key rate, and its Governor is Elvira Nabiullina.
Kerala PSCUPSCBank
In plain words
Key rate Key rate — The Bank of Russia's main policy interest rate, the counterpart of the RBI's repo rate.
20 September 2026
Voting for Russia's State Duma was spread over three days, from Friday to Sunday. On preliminary results with 95% of the count done, United Russia had 57.8% of the vote and 355 of the 450 seats in the lower house. The Communist Party came second with 13.8% and 40 seats. The Liberal Democratic Party, LDPR, took 25 seats on 9% and the New People party 20 seats on 8%. Fair Russia was close to the five per cent threshold with counting still going on. Five seats went to individual candidates, one of them from the Motherland party. Ella Pamfilova, who chairs the Central Electoral Commission, put turnout at 59.32%, a record for a Duma election. Yabloko won no seats at the national level but did enter the regional parliament in the Novgorod region.
United Russia:
57.8% of the vote, 355 of 450 seats
Communist Party:
13.8%, 40 seats
LDPR / New People:
25 seats / 20 seats
Turnout:
59.32%
Why it matters for exams: The State Duma is the 450-seat lower house of Russia's Federal Assembly, and Russia's elections are run by the Central Electoral Commission chaired by Ella Pamfilova.
Kerala PSCUPSC
In plain words
State Duma State Duma — The 450-member lower house of Russia's parliament, the Federal Assembly.
LDPR Liberal Democratic Party of Russia — A nationalist party represented in the State Duma.
16 September 2026
Russia's Progress 96 cargo spacecraft rose from the Baikonur Cosmodrome in Kazakhstan on a Soyuz rocket, lifting off at 9:33 a.m. EDT, which was 6:33 p.m. Baikonur time. It carried about three tons of food, fuel and supplies for the crew of Expedition 75 on the International Space Station. The craft was set to dock on its own, without a pilot, at the space-facing port of the Poisk module, one of the Russian modules on the station, on September 19. Progress is Russia's long-running uncrewed cargo series, and it is the Russian segment's main supply line. Baikonur is the launch site Russia leases in Kazakhstan, and Soyuz is the rocket family used for both crew and cargo runs. Progress flights of this kind keep the station stocked between crewed missions.
Spacecraft:
Progress 96
Launch site and rocket:
Baikonur Cosmodrome, Kazakhstan; Soyuz rocket
Cargo:
About three tons of food, fuel and supplies
Docking port:
Poisk module's space-facing port
Why it matters for exams: Baikonur Cosmodrome lies in Kazakhstan, Progress is Russia's uncrewed cargo series, and Poisk is a Russian module of the International Space Station.
Kerala PSCUPSC
In plain words
Progress Progress cargo spacecraft — Russia's uncrewed resupply ship for the space station, launched on Soyuz rockets.
Poisk Poisk module — A Russian module of the International Space Station used as a docking port.
Background
This standing fact sits behind the Bank of Russia's decision to hold its key rate at 14 percent. Russia's national currency is the ruble. Its central bank is called the Bank of Russia, and the Governor is Elvira Nabiullina. The bank's headline policy instrument is the key rate, which only its Board of Directors may change; this is the Russian counterpart of the repo rate used by the Reserve Bank of India. The bank's registered address is 12 Neglinnaya Street in Moscow, which is Russia's capital. Rate statements are read out by the Governor at a news conference after each Board meeting, and the bank also publishes a dated calendar of its future rate meetings.
Currency:
Ruble
Central bank:
Bank of Russia
Policy instrument:
Key rate
Capital:
Moscow
Why it matters for exams: Currency, central bank and the name of its policy rate - the three standing facts behind every Russian rate question.
Kerala PSCUPSCBank
In plain words
Bank of Russia Central Bank of the Russian Federation — Russia's central bank, which sets the key rate and issues the ruble.
Background
This standing fact sits behind United Russia's win of 355 of the 450 State Duma seats. Russia's parliament is called the Federal Assembly and has two chambers. The State Duma is the lower chamber and holds 450 seats, so 226 is a simple majority and 300 the two-thirds mark. Elections to the Duma are conducted by the Central Electoral Commission, which is chaired by Ella Pamfilova and which declares the turnout and the final seat tally. Russia is a federation, and its regions - oblasts, krais and republics - each have their own regional legislature; the Novgorod region is one such oblast. A party may therefore win seats in a regional parliament without winning any at the national level.
Parliament:
Federal Assembly
Lower house and its size:
State Duma, 450 seats
Election authority:
Central Electoral Commission, chaired by Ella Pamfilova
Why it matters for exams: The State Duma's 450 seats and its place as the lower house of the Federal Assembly frame every question on Russian elections.
Kerala PSCUPSC
In plain words
Oblast Oblast — A type of Russian region, roughly a province, with its own legislature.
Background
This standing fact sits behind the Progress 96 cargo flight that was to dock at the Poisk module. Russia's principal launch site for crew and cargo, the Baikonur Cosmodrome, is in Kazakhstan, not in Russia; Russia leases it. Baikonur local time runs nine hours ahead of United States Eastern Daylight Time, which is why a lift-off at 9:33 a.m. EDT was 6:33 p.m. at the pad. Russia's workhorse launcher is the Soyuz rocket family, used for both crewed Soyuz spacecraft and uncrewed Progress cargo ships. Russia also launches from Vostochny inside its own territory. On the International Space Station, Poisk is one of the modules of the Russian segment, and Russia's space activities are run by the state corporation Roscosmos.
Main launch site:
Baikonur Cosmodrome, Kazakhstan
Launcher family:
Soyuz
Space agency:
Roscosmos
Why it matters for exams: Baikonur Cosmodrome is in Kazakhstan and Roscosmos is Russia's state space corporation - two facts behind every Russian launch story.
Kerala PSCUPSC
In plain words
Roscosmos Roscosmos State Corporation for Space Activities — Russia's state space corporation, which runs its launches and crewed flights.
Background
This standing fact sits behind the decision by seven producers to hold December output at the September level. OPEC stands for the Organization of the Petroleum Exporting Countries. Russia is not one of its members. Russia works with OPEC through the wider arrangement known as OPEC+, which brings in large producers from outside the organisation. Within that arrangement a group of seven countries - Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman - handles the voluntary output adjustments and meets, usually online, to set its required production month by month. Of those seven, Saudi Arabia, Iraq, Kuwait and Algeria are OPEC members, while Russia, Kazakhstan and Oman take part only through OPEC+.
OPEC:
Organization of the Petroleum Exporting Countries
Russia's status:
Part of OPEC+, not a member of OPEC
The seven-country group:
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, Oman
Why it matters for exams: OPEC expands to Organization of the Petroleum Exporting Countries, and Russia belongs to OPEC+ but not to OPEC.
Kerala PSCUPSC
In plain words
OPEC Organization of the Petroleum Exporting Countries — A group of oil exporting states that coordinates production policy.