A report from LSE IDEAS highlights the economic strengths and vulnerabilities of Russia and Ukraine in the ongoing conflict. Authored by Dr. Luke Cooper, it emphasizes Ukraine's surprisingly robust economy, bolstered by Western support and secure financial backing until 2027. In contrast, Russia faces fiscal strain primarily reliant on oil and gas revenues. Both nations leverage military spending as economic stimulus, but Ukraine's democratic framework provides resilience against risks inherent in war. As peace talks progress, the report cautions against sidelining Ukraine and advocates for inclusive negotiations respecting human rights.
Despite fighting a vastly more powerful adversary, Ukraine's wartime economy has proven surprisingly resilient.
A focus on the 'home front' reveals the potential brittleness and fragility of the Russian war economy.
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