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Fortune
Fortune
Jason Ma

Russia’s war economy is on its last legs, but peace may be even worse for Vladimir Putin, experts say

Russian President Vladimir Putin (Credit: Getty Images)

The Russian economy looks unable to sustain President Vladimir Putin’s war on Ukraine past next year, but an end to the fighting could also pose an existential threat to his regime, according to experts.

In an analysis in Foreign Policy magazine earlier this month, Marc R. DeVore, a senior lecturer at the University of St. Andrews’s School of International Relations, and Alexander Mertens, a professor of finance at the National University of Kyiv-Mohyla Academy, explained how Russia can’t produce enough to replace what it’s losing on the battlefield.

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