Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.AllNewsSportCultureLifestyleThe Kremlin has been warned that Russia cannot sustain its war in Ukraine at the current pace, with finance officials urging a reduction in spiralling defence spending. Russia's finance ministry anticipates a significant budget overrun, with Finance Minister Anton Siluanov projecting at least $28bn over budget this year and further overspending in future years. Siluanov has proposed freezing around $40.8bn in non-war-related spending and warned that Russia's financial reserves are not infinite. Despite two-fifths of the budget being allocated to defence and security, analysts caution that Russia's apparent economic growth is illusory and the war is likely to be economically unsustainable. Ukraine's intensified strikes on Russian energy infrastructure are significantly impacting the economy, affecting a quarter of refining capacity and creating risks of fuel shortages. In fullVladimir Putin warned by his own officials that the mounting cost of the Ukraine war is ‘unsustainable’Thank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
Putin has been told his war in Ukraine is now ‘unsustainable’ – here’s why
Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.AllNewsSportCultureLifestyleThe Kremlin has been warned that Russia cannot sustain its war in Ukraine at the current pace, with finance officials urging a reduction in spiralling defence spending. Russia's finance ministry anticipates a significant budget overrun, with Finance Minister Anton Siluanov projecting at least $28bn over budget this year and further overspending in future years. Siluanov has proposed freezing around $40.8bn in non-war-related spending and warned that Russia's financial reserves are not infinite. Despite two-fifths of the budget being allocated to defence and security, analysts caution that Russia's apparent economic growth is illusory and the war is likely to be economically unsustainable. Ukraine's intensified strikes on Russian energy infrastructure are significantly impacting the economy, affecting a quarter of refining capacity and creating risks of fuel shortages. In fullVladimir Putin warned by his own officials that the mounting cost of the Ukraine war is ‘unsustainable’Thank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
