“The government will provide whatever the army asks for,” Russia’s President Vladimir Putin told a gathering of military top brass in December. Eighteen months into his war in Ukraine, he seems to be keeping that promise. But he’s doing it increasingly at the expense of economic stability at home.
“We have no funding restrictions,” Russia’s President Vladimir Putin told a gathering of military top brass in December. “The country, the government will provide whatever the army asks for.” Eighteen months into his war in Ukraine, Putin seems to be keeping that promise. But he’s doing it increasingly at the expense of another, unspoken, compact with the Russian people: to maintain economic stability at home.
The currency has lost more than 30% of its value this year, weakening past 100 rubles to the dollar earlier this month. The ruble may still fall further, Kluge at the German Institute for International and Security Affairs told CNN. “The last thing that they [the government] want is that Russians lose trust in the Russian currency and then at some point maybe start exchanging all the rubles into foreign exchange, because then you would have a vicious cycle.
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