Editor’s Note: This is an adaptation of an article originally published in Le Rubicon, which is affiliated with War on the Rocks. Russia is faced with an insoluble equation: how to finance a war in the long term, for which expenditure is soaring while budget revenues are falling, against a backdrop of tightened sanctions.
Between rising taxes, falling hydrocarbon revenues, inflation, and crises in employment and foreign investment, with a labor market short by 4.8 million workers (about 7 percent of the country’s labor force), and with the value of foreign assets in Russia dropping by almost 20 percent betweenThe post Russia Is on a Slow Path to Bankruptcy, But How Slow? appeared first on War on the Rocks.