Part 5/11:
While the Russian economy may not be on the brink of collapse, the sustainability of its growth amidst mounting challenges raises questions about the Kremlin’s capacity to fund its ongoing military operations. Analysts point to excessive corporate debt, which ballooned by 71% since mid-2022, with significant portions of the credit extended under pressure from the Kremlin to support war industries. This situation risks creating a pool of toxic debt that might destabilize Russia's banks and economy.