Is Russia's war economy running out of road despite record military spending?

Patrick Boyle examines the economic reality behind Russia's war efforts. By analyzing trade shifts, budget deficits, and the state of the National Wealth Fund, this video provides a data-driven look at the sustainability of Russia's current military trajectory and the true nature of its international partnerships.

The Russian economy faces significant strain, evidenced by a National Wealth Fund that has shrunk from 6.5% of GDP to 1.8%. Domestic energy stability is compromised, with Ukrainian drone strikes disabling approximately one-third of Russia's oil refining capacity. This has forced the country to ration petrol and import gasoline from India.

Fiscal pressure is mounting, as the first-quarter budget deficit exceeded the entire year's target within just ninety days. Meanwhile, the banking sector has been repurposed to sustain military production. The video also explores the lopsided nature of Russia's partnership with China and discusses the Russian endgame through the perspective of a non-dissident billionaire.

Source: Is Russia Actually Losing?