Russian officials are warning Putin that a financial crisis could arrive this summer, report says, while his war on

[Yo_Mama_Been_Loggin]

Ukraine becomes too big to fail

The Kremlin’s financial situation is becoming increasingly dire and could come to a head in a matter of months as oil revenue shrinks while President Vladimir Putin shows no intention of ending his war on Ukraine.

Russian officials have been warning Putin with growing alarm that a financial crisis could hit by the summer, sources told the Washington Post. They pointed to weak oil revenue, which crashed by 50% in January from a year earlier, and a budget deficit that continues to widen, even after Putin hiked taxes on consumers.

A Moscow business executive also told the Post that the crisis could arrive in “three or four months” amid spiraling inflation, adding that restaurants have been closing and thousands of workers are getting laid off.

The economic strains go back to Russia’s invasion of Ukraine four years ago. As sanctions took hold and Putin mobilized the economy for a prolonged war, a tight labor market and high inflation forced the central bank to keep interest rates high. Recent easing has failed to prevent spending declines in several consumer categories.

https://www.yahoo.com/news/articles/russian-officials-warning-putin-financial-211434255.html

[Turbineguy]

1. Is Putin's vig in danger of reducing?