Four years after Russia's full-scale invasion of Ukraine, the Russian economy is showing clear signs of structural exhaustion. The contours of a genuine economic endgame are coming into view for Russia. This is the finding of a new Kiel Report published by the Kiel Institute for the World Economy and the Stockholm Institute of Transition Economics.
I wouldn’t say the Russian side is doing well, I completely agree with all of that.
But if someone has “hit their limits” like the article claims it means they can’t go on anymore. The fact that they can still ramp up attacks and aren’t losing ground massively means that hasn’t happened yet.
The war is at an impasse right now and I don’t think the next few months of the war are going to be very pretty…