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Fortune
Fortune
Jason Ma

Russian official warns a banking crisis is possible amid nonpayments. 'I don’t want to think about a continuation of the war or an escalation'

(Credit: Sefa Karacan—Anadolu via Getty Images)

Russia’s financial system is reportedly coming under more strain as Moscow’s war on Ukraine nears the end of its fourth full year.

The White House is seeking to revive peace talks this weekend with Ukrainian President Volodymyr Zelensky due to meet President Donald Trump in Florida on Sunday. Russian forces stepped up their bombardment of Ukraine ahead of the meeting, but prolonged fighting presents risks for the economy.

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