The Kremlin's Ceiling is falling in…

The article is on the sanctions causing the Kremlin to cut the budget for the next three years. This is based on a few factors involving sanctions other than on oil. The Kremlin can not borrow money in larger part because it is not a trustworthy borrower. The budget has to be pretty much balanced.

The article cites how well oil is doing for Russia. The article is not looking at the G7 actions to come.


While the Kremlin’s coffers are being boosted by rocketing energy prices, spending on its military has soared and non-energy tax receipts are being hit by the shrinking of its economy.

The plans will help balance the budget but will mean lower spending on state programmes funding transport, science and technology development, and defence, despite the conflict in Ukraine.

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