Putin faces tough choices at home as strain on Russia’s war economy mounts
Dwindling oil revenues and a widening deficit may force Moscow to cut some non-military spending in this month’s budget
Dwindling oil revenues and a widening deficit may force Moscow to cut some non-military spending in this month’s budget

Maxim Reshetnikov says persistent inflation and central bank’s hawkish policy contribute to slowdown

Moscow now expects growth of 0.4% this year compared with previous forecast of 1.3%

Second reduction in two months lowers borrowing costs to 18%

Even if the fighting in Ukraine were to end, rearmament will remain at the centre of the Russian economy

Price increases show that western restrictions are limiting Moscow’s capabilities, Bank of Finland research finds

Move comes as Washington pushes Nato allies to pay more towards their own defence