logo
episode-header-image
Sep 2022
17m 27s

The real state of the Russian economy

Bbc World Service
About this episode

As Ukraine seemingly makes dramatic advances on the battlefield, we look at what this may say about the situation inside Russia itself. Military analysts are describing what seems to be a depleted Russian military machine, lacking in morale, but also possibly lacking in the kinds of military equipment it needs to sustain its war effort. One estimate in August put the loss of hardware (not including missiles) at $16 billion. That's hard to replace, given the supply problems and falling growth brought about by wide-ranging western economic sanctions.

We look inside the country at the way the economy is progressing, with the thoughts of one Russian business-owner, Dmitry Nechaev, and from western-based economists, Sergei Guriev at Sciences Po University in Paris, and Elina Ribakova, deputy chief economist at the International Institute of Finance. The US-based political scientist Stephen Crowley, of Oberlin College, then considers how much a weakened economy is likely to create the type of political pressure to make President Putin reassess his war strategy.

Presenter/producer: Ed Butler

(Image: Russian President Vladimir Putin at the desk in his office; Credit: BBC)

Up next
Yesterday
Power Players: What does Mamdani's Manhattan mean for the world?
Democratic socialist Zohran Mamdani rode a wave of anti-Trump sentiment and cost-of-living pressures to win the New York City mayoralty. But talk of new taxes to fund spending spooked some on Wall Street. Six months in, has he found a balance? Presenters: Michelle Fleury and Will ... Show More
26m 1s
Apr 7
Headspace: from mindfulness app to military partner
Headspace started life as a mindfulness app. Now it's partnering with the US Navy and investing in artificial intelligence for mental health support.The company's CEO Tom Pickett speaks to us about therapy, the increasing role of technology, and tackling burnout at scale.If you'd ... Show More
17m 28s
Apr 7
Anthropic: the $300bn AI firm at war with the White House
Anthropic’s rise from startup to one of the world’s leading players in artificial intelligence has been staggering, but so in recent weeks has been its row with the US Government.Today, we look at that journey to becoming a 380 billion dollar company, ask why Claude has become on ... Show More
17m 28s
Recommended Episodes
Feb 2025
The real Russian economy. With Sergei Guriev
<p>The war in Ukraine is a humanitarian crisis. It is also an economic problem. Sanctions from the US and Europe are meant to make war too expensive for Russia to continue. President Vladimir Putin claims those sanctions have failed and his economy is strong. But what is propagan ... Show More
42m 16s
Apr 2022
Sergei Guriev: Is Moscow outmanoeuvring the West's sanctions?
What will it take to end the war Vladimir Putin has initiated in Ukraine? In military terms, Russia now seems intent on a grim campaign of attrition in the east and south - a strategy which is already taking a terrible human toll. Could economic isolation inflict enough pain to f ... Show More
22m 58s
Mar 2024
The Economic War: How Hard Are Sanctions Hitting Russia?
Since Russia launched its full-scale invasion of Ukraine, it has been subject to thousands of sanctions from the West - but despite this, Russia’s economy is thriving. So how is the world’s most sanctioned country getting around them? And what does this tell us about how effectiv ... Show More
27m 4s
Aug 2025
Why Russia’s wartime economy is starting to crack, with Elina Ribakova
When the EU and US hit Russia with fresh sanctions in 2022, many analysts expected the country’s economy to crack. Instead, Russia has shown strong GDP growth, powered in large part by a massive boost to war-related industries. Now, the effects of that boost appear to be fading. ... Show More
28m 8s
Sep 2025
Fortunes of war: is Russia’s economy slowing?
The collapse of Russia’s wartime economy has long been foretold, yet massive fiscal stimulus has compensated for the effect of sanctions. Though the pinch is now being felt, the labour market is surprisingly resilient. Protesters in China are getting more creative. And why car to ... Show More
23m 30s
Sep 2025
Fortunes of war: is Russia’s economy slowing?
The collapse of Russia’s wartime economy has long been foretold, yet massive fiscal stimulus has compensated for the effect of sanctions. Though the pinch is now being felt, the labour market is surprisingly resilient. Protesters in China are getting more creative. And why car to ... Show More
23m 30s
Mar 2022
The Ukraine War: A View from Moscow
<p>Russia’s war in Ukraine thus far has not gone Moscow’s way. Russian President Vladimir Putin appears to have expected that Russian forces would capture Ukraine without much resistance, but Ukrainian forces have put up a fierce fight. The Western response has been more united t ... Show More
41m 46s