"Vladimir Putin is systematically ruining his country. His war of choice in Ukraine is an economic, financial, geopolitical and human calamity for Russia that worsens by the day. For his own murky reasons, Donald Trump, another national menace, offered him a lifeline last week. Yet Putin spurned it. These two fools deserve each other. On the table in Moscow was a peace deal that, broadly speaking, rewarded Russia's aggression by handing over large chunks of Ukrainian land, compromised Kyiv's independence"
"Russia's oil and gas income, representing up to 50% of state revenue, is down 27% year-on-year, and recession looms. Inflation is up, at 8%; interest rates top 16%. The budget deficit is rising, more than half of Russia's liquid sovereign wealth fund has been squandered since 2022, state monopolies face huge debts, foreign investment has plunged, import costs of strategic goods have risen by 122%, and consumer taxes are soaring, all to fund Putin's war."
Vladimir Putin is systematically ruining Russia through a war of choice in Ukraine that causes economic, financial, geopolitical and human calamity. A Moscow peace deal that would have rewarded Russian aggression by ceding Ukrainian land, compromising Kyiv's independence and weakening future defences was offered as a lifeline but was rejected. Putin believes he can achieve greater gains by continuing to fight and has convinced Donald Trump that Russia's victory is inevitable while blaming Europeans. Russian forces remain bogged down in Donbas. At home, oil and gas revenue—up to half of state income—is down 27% year-on-year, inflation has risen, interest rates exceed 16%, sovereign funds have been depleted, and public finances and investment are deteriorating.
Read at www.theguardian.com
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