Russia’s economy is under growing strain as its invasion of Ukraine drags on and Western sanctions are undermining President Vladimir Putin’s ability to sustain his war, a leading European economist said after briefing finance ministers on Tuesday.
The economist, Torbjörn Becker, Director of the Stockholm Institute of Transition Economics, warned that should Russia prevail, European Union governments would have to spend 2-3 times more than they currently do on defense for several years.
