Putin will meet Trump as a ‘fiscal crunch’ is about to hit Russia’s war machine

(Credit: Mikhail Svetlov—Getty Images)

• Russian President Vladimir Putin will meet U.S. President Donald Trump in Alaska on Aug. 15 to discuss ending Moscow’s war on Ukraine. Meanwhile, Russia’s economy continues to feel the strain of Western sanctions and high interest rates. The Kremlin also faces a “fiscal crunch” that will hamper its war effort, an expert said.

Russia’s economy has been surprisingly resilient in the face of Western sanctions that were triggered by President Vladimir Putin’s invasion of Ukraine in 2022.