Economy News Russia’s New Defense Minister Shows Economy Is Firmly On War Footing

The Cracks in Russia’s War Economy

To sustain its war against Ukraine, Russia militarized its economy. Although—contrary to popular belief abroad—the Russian economy is not on a full wartime footing, the Kremlin has both splurged on ... Read More

Russia’s wartime economy loses steam as oil revenues fall and the budget deficit grows

After two years of robust growth fueled by military spending on the war in Ukraine, Russia’s economy is slowing. Oil revenues are down, the budget deficit is up and defense spending has leveled off. Read More

Russia’s ‘disposable-goods’ war economy is getting busier but poorer, and Trump’s new sanctions could trigger a recession, analysts say

Vladimir Putin’s wartime economy has been resilient in the face of Western sanctions triggered by his invasion of Ukraine, but it’s hitting a wall and U.S. pressure on the energy sector could cause a ... Read More

Ukraine Hits Back at Russia’s Economy

After years of insulation from the effects of Vladimir Putin’s war, Russia’s economy is finally starting to take a hit. Political fortunes turn fast. One day in August, US president Donald Trump and ... Read More