Russia Is on a Slow Path to Bankruptcy, But How Slow?
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Editor’s Note: This is an adaptation of an article originally published in Le Rubicon , which is affiliated with War on the Rocks . Russia is faced with an insoluble equation: how to finance a war in the long term, for which expenditure is soaring while budget revenues are falling, against a backdrop of tightened sanctions. Between rising taxes, falling hydrocarbon revenues, inflation, and crises in employment and foreign investment , with a labor market short by 4.8 million workers (about 7
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