Putin’s Economic Squeeze: How Russia’s War Is Forcing Ordinary Citizens to Pay the Price
Russia’s slowing wartime economy is pushing Putin to extract billions from ordinary Russians through steep tax hikes, revealing the limits of autocratic spending and foreshadowing hardships that undermine Moscow’s long-term war aims.
After years of aggressive military spending fueled by oil revenues, Russia’s wartime economy is hitting a wall. Oil revenues have plunged, defense budgets have plateaued, and the Kremlin faces a widening budget deficit that it can no longer cover with external borrowing. The solution from Vladimir Putin’s government? Shift the financial burden directly onto ordinary citizens and small businesses. Is This the Cost Russian Families Must Bear to Fund Endless War? The Kremlin has quietly pushed legislation raising the value-added tax (VAT) from 20% to 22%, expected to rake in an additional $12 billion from consumers as early as next...
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