Podcast host Alex Gabuev is joined by Alexandra Prokopenko, a fellow at the Carnegie Russia Eurasia Center and one of the leading experts on the Russian economy, to assess the current state of Putin’s wartime economy and discuss its future prospects.
At the beginning of the war in Ukraine, Western leaders put a lot of faith in applying economic pressure to Russia, and it is now probably the most sanctioned country in the world. But despite the unprecedented sanctions tsunami, the Russian economy is yet to collapse. How long can the Kremlin maintain its ever-growing military spending and the overall economic imbalances? Will Putin be able to simultaneously finance his costly war, keep the population happy, and maintain macroeconomic stability?
For additional insight into this issue, read Alexandra Prokopenko's piece for Foreign Affairs on Putin’s trilemma here.
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
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Alexander Gabuev, Zaur Shiriyev, Philip Gamaghelyan
