A leaked European intelligence brief says Vladimir Putin's war economy is pushing Russia towards an 'explosive' banking crisis, with more than 500,000 people declared bankrupt in 2025 and banks increasingly exposed to bad loans, it was reported on 6 July 2026.
The assessment, prepared for EU officials ahead of a new sanctions push, centres on Russia's lenders, household debt and the sheer strain of financing a war that refuses to get cheaper.
