A new joint European study shows: The final stage of Putin’s war economy has begun. The National Wealth Fund has decreased, the budget deficit for the entire year 2026 was already eliminated in the first quarter and the national debt hidden through the banking system is rising to 50 percent of the National GDP.
Rixa Fürsen discusses with economist Moritz Schularick why the Kremlin system resembles a financial bubble that is about to burst and why the appearance of unlimited Russian resources is illusory.
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