Source: Russia’s war with Ukraine is taking a heavy toll on its economy
When a supposed global superpower like Russia begs Iran for drones, turns to North Korea for artillery shells and watches its Black Sea fleet dismantled by a country without a navy, you know something is off. Before 2022, Russia’s military boasted of being second only to the United States.
Now — as the bitter joke goes — it’s the second strongest in Ukraine.
Donald Trump wants to negotiate an end to the Russo-Ukrainian war. But for a cease-fire not to boomerang back as an even bigger calamity, Moscow must come to terms with a hard truth — ending its criminal war of conquest isn’t a concession but an inevitability that’ll serve Russia’s own best interest.
Trump calling President Vladimir Putin out is both timely and necessary.
He is right: Russia’s economy is “failing” and “IT’S ONLY GOING TO GET WORSE.”
Inflation soared to 9.5% last year, nearly triple the US rate, driven by reckless military spending. In 2024 alone, staples like potatoes and onions saw price spikes of 91% and 47% respectively.
The Central Bank’s desperate response — hiking interest rates to 21% — speaks volumes about the state of the economy. Since mid-2024, the ruble has plunged by over 20%, now literally worth just a penny.
The Kremlin’s National Wealth Fund has shrunk to $31 billion, down from $210 billion in June 2022 — a staggering decline. Fittingly for a state the late John McCain once called “a gas station masquerading as a country,” Russia relies on crude oil sales to fund its treasury.
Here too, the latest US sanctions crackdown on Moscow’s shadow fleet sent shipping costs skyrocketing and willing buyers dwindling.
