Top Banker tells Putin Economy 'Cannot Survive Endless Ukraine War

Top Banker tells Putin Russia's Economy 'Cannot Survive' Endless Ukraine War

Kremlin insider issues stark warning as fuel shortages and economic pain deepen across Russia

One of Vladimir Putin's closest economic allies has issued a remarkable warning that Russia's economy "simply cannot survive" much longer under the strain of the war in Ukraine.

German Gref, the powerful chief executive of state-controlled banking giant Sberbank, publicly urged the Kremlin to bring the conflict to an end, saying ordinary Russians are increasingly paying the price through soaring borrowing costs, shrinking investment and worsening fuel shortages.

Rare Public Criticism

"I don't believe there is anyone in this country whose primary concern is anything other than an end to military hostilities as soon as possible," Gref said in an interview with Russian state television.

He warned that the country's economic model is reaching breaking point, arguing that prolonged high interest rates are crushing investment and growth.

"An economy simply cannot survive for a prolonged period under the weight of these extremely high interest rates," he said.

Ukraine Strikes Add Pressure

The warning comes as Ukrainian drone attacks continue targeting Russian oil refineries and fuel infrastructure, creating growing disruption across the country.

Russian authorities have already declared a state of emergency over fuel supplies in occupied Crimea, while long queues have formed at petrol stations in several regions as shortages worsen.

Putin himself recently admitted that repeated attacks on Russia's energy infrastructure were creating serious economic problems.

Cracks Beginning To Show

Russia's central bank has been forced to keep interest rates at historically high levels in an attempt to contain inflation caused by wartime spending.

Gref said investment has already fallen sharply and warned that falling wages and potential job losses could make the situation even worse.

His comments are particularly significant because they represent one of the strongest public criticisms yet from a senior figure within Russia's political and financial establishment.

Pressure Mounts On Putin

Gref has previously disagreed publicly with Putin over the economy, but such criticism remains extremely rare inside Russia.

With Ukraine continuing to strike deep inside Russian territory, fuel shortages growing and economic pressure mounting, the Kremlin is facing increasing questions over how long it can sustain the costly war without inflicting lasting damage on its own economy.

SOURCE