Free Republic

Andrey Klepach, one of Russia’s top economists, has been replaced as chief economist of the country’s national development bank shortly after a speech was made public in which he reportedly said Russia’s economy was being damaged by the war in Ukraine. Russia’s state news agency TASS confirmed Sunday that Klepach “no longer holds the position of chief economist at VEB,” one of Russia’s largest banks, but did not give a reason for his departure. A new candidate has been selected and will be appointed soon, TASS added. VEB repeated the same statement to CNN. That announcement came two days after...

Andrei Klepach, the chief economist at Russian state development corporation VEB.RF, was reportedly fired on Aug. 16, a day after Russian media widely circulated his warnings that Russia was losing its economic and technological competition with the West. Russian independent media outlet The Bell reported Klepach’s dismissal on Aug. 16, citing two people familiar with the matter. The report came two days after The Moscow Times published excerpts from Klepach’s May remarks, which were subsequently picked up by other Russian media. Speaking at an event organized by the Moscow Exchange’s Nikitsky Club, Klepach reportedly said Russia would be unable to...