Eight European Finance Ministers agree:
“To cover future deficits, Putin will have to use monetary financing, adding more fuel to inflation, and further deplete the Russian cash reserves.”
No end to the Ruble printing spree - as long as the war goes on, the inflationary hole that Russia is in will grow deeper, and deeper.
Russia is already having to shift gears, as their financial reserves approach the end of their ability to continue buffering the expense of the war. They are having to transition to taking it out of hide as they go - cutting deeper to bone, out of the standard or living of the Russian population. More taxes, higher prices, less education, health care or infrastructure.
Those current war bills, though huge, are dwarfed by the reparations and reconstruction bills that Russia is amassing, as it illegally demolishes cities, and commits torts against hundreds of thousands of families, in both Ukraine and Russia.
A gigantic bonfire of Russia’s wealth, and it’s future prospects for growth.
Putin did that. He brought doom onto the people of Russia.
Construction Accelerates at Planned Russian Navy Base in Disputed Abkhazia (https://www.bellingcat.com/news/uk-and-europe/2024/07/30/construction-accelerates-at-planned-russian-navy-base-in-disputed-abkhazia/?utm_source=twitter )
