The Cost of the Ukraine War for Russia Research Summary
Abstract:
Russia's renewed invasion of Ukraine encompassed a large increase in defense spending; unleashed a global economic maelstrom of elevated energy, food, and fertilizer prices; and sparked a historic economic sanctions campaign by a united West opposed to the invasion. Russia failed to reach its initial military goals and ended up in a protracted war with significant numbers of dead and wounded, depletion of munitions, and destruction of equipment. As the war continues, it is useful to understand the initial economic costs to Russia and the outlook for Russia's economy.
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