Russian citizens are increasingly experiencing significant financial hardship as a result of the ongoing military engagement initiated by President Vladimir Putin. Economic indicators show rising inflation, a weakened national currency, and shrinking consumer purchasing power. Sanctions imposed by Western nations have restricted access to key technologies and financial markets, further straining domestic industries. Data from 2023 and early 2024 reveal a 15% decline in real wages and a surge in import costs, contributing to widespread economic discomfort. Small businesses face closures, and unemployment is climbing in regions dependent on manufacturing and trade. While government spending on defense remains high, public investment in social services and infrastructure has slowed. Analysts suggest that without a shift in policy or resolution to the conflict, economic pressures on ordinary Russians will likely intensify.
— news from The Japan Times
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Russians are starting to feel real economic pain from Putin’s war The Japan Times