Moscow's tolerance for high losses, now estimated at over 1,500 casualties per day, reflects the desperation of a country facing dire economic straits.
The Kremlin's revenues from oil and gas exports are down over 37%, forcing Russia to run deficits and reducing access to foreign funding.
Sanctions against Russia, combined with rising military expenditures, have created a precarious economic situation that could lead Putin to escalate or end the war.
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