The Russian war economy is facing a ‘moment of truth’ as Putin’s dwindling cash reserves raise odds of a financial crash, expert says

(Credit: Sefa Karacan—Anadolu/Getty Images)

• Nearly three years after Russia invaded Ukraine, Vladimir Putin’s economy is entering a critical phase as inflation, shortages, and shrinking cash reserves constrain his war effort soon, a Russia expert said.

Russia’s economy is facing a “moment of truth” as high inflation, an ailing private sector, and critical shortages are poised to constrain Vladimir Putin’s war on Ukraine, according to economist and author Anders Åslund.