Ukraine conflict, sanctions set to blow hole in Russia's finances

[Scott]

 The cost of Russia's military mobilisation and the impact of Western sanctions are set to blow a hole in the government's budget forecasts and drain Moscow's reserves to their lowest level in years, according to analysts' latest calculations.

That will put an ever greater strain on the Kremlin's resources as President Vladimir Putin seeks to fund a conflict with no end in sight and prepares for a possible re-election bid in 2024.

After eight months of what it calls a "special military operation", Moscow has drawn up a 2023 budget that takes no account of the cost of the recent call-up of 300,000 reservists, the declared annexation of four Ukrainian regions - the Kremlin says the four joined Russia freely - and Western efforts to cap Russian energy export prices, analysts say.

https://www.reuters.com/world/europe/ukraine-conflict-sanctions-set-blow-hole-russias-finances-2022-11-02/

 

[2baht]

I don't think that will affect Czar Putin, history beckons and he's not short of a ruble!