Russia’s economy is in deep peril, Donald Trump assured the world this week, in a dramatic change of tune on the war in Ukraine in which the US president claimed Kyiv now had a chance to win back all its territory.
The reality, economists say, is more complicated. While Moscow is enduring its toughest period since the chaotic first days of the invasion, few analysts believe its economy is on the brink of a total collapse, and fewer still expect Vladimir Putin to adjust his war plans in the short term.
