Posted 12/9/2023, 3:45:00 AM
Russian Economy Shows Resilience But Overreliance on Oil and Military Spending Raises Concerns
- Russian economy has shown resilience despite unprecedented Western sanctions, but signs of overheating and dependence on oil exports
- Aim of sanctions is not to trigger collapse but to limit capabilities of Russian war machine in long run
- Official stats show growth, but 1/3 driven by military spending; economy addicted to "military needle"
- Wealthy Russians benefiting from defense deals and oil sales, adapting to live well amid war
- Russian society has "learned to stop worrying about the war" though it may not end soon