Kremlin State Bank Chief Warns Russia Could Lose Ukraine War of Attrition

Russia’s top state bank has predicted Moscow may lose the “war of attrition” against Ukraine. VEB.RF’s chief economist Andrei Klepach argued that as long as Western countries keep supporting Ukraine, Russia cannot win the economic confrontation. He pointed to escalating sanctions-driven costs, reduced investment, and a widening technological gap. Klepach also cited damage from Ukrainian strikes on ports, infrastructure, chemical plants, and oil refineries, warning that Russia’s costs are mounting and Ukraine’s economy has not collapsed.