“Moscow is now resorting to selling the portion of its NWF reserves that it holds in gold; the fund’s gold reserves have shrunk by around half”
It is unlikely that they would completely zero out the National Wealth Fund (NWF), but rather that they will throttle up other avenues of funding, while tapering off withdrawals from the NWF.
They can increase taxation, cut non-Defense spending, sell off Government assets (like land or mineral rights), Nationalize private accounts or property (straight out steal) - or they can Print, Print, Print more rubles.
Those options are economically and politically more painful than spending from the NWF, but of them, the ruble printing is the least politically painful, because it is the easiest one to mislead the public about the cause of the pain, when it manifests. Blame the Jews, blame Western spies, blame price gouging businessmen (See: Kamala Harris).
If the war continues, Russian finances cannot continue on a straight line indefinitely. There will be major inflection points as the reserves run out, and as the currency weakens. There is growing risk of hyperinflation.
By Spring next year, RuZZia’s total losses will hit 20,000.
By Summer next year, RuZZia’s tank losses will cross 4,000.
Staggering numbers.
Demilitarization, desatanization and denazification of RuZZia continues.
Russia - 18713, of which: destroyed: 13864, damaged: 813, abandoned: 1054, captured: 2982
Tanks (3514, of which destroyed: 2448, damaged: 158, abandoned: 376, captured: 532)