Part 4/9:
Understanding the dynamics of these commercial loans is critical. The Kremlin's interventions mean that banks are forced to lend to companies they might otherwise deem too risky, often at lower interest rates than would typically be required. Thus, the surge in lending appears more a product of coercive policy rather than a burgeoning economy of thriving businesses. This risky lending strategy raises the specter of a financial crisis, primarily if these companies default on their loans.