‘We are in a race now between how long can the Ukrainian military hold up versus how long can the Russian economy hold up,’ the US Treasury secretary said.
U.S. President Donald Trump greets Russian President Vladimir Putin on the tarmac after they arrived at Joint Base Elmendorf-Richardson in Anchorage, Alaska, on Aug. 15, 2025. Andrew Caballero-Reynolds/AFP
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President Donald Trump recently said Russia’s economy is “absolutely terrible right now,” after calling Moscow a “paper tiger.”
Trump wants to ramp up the pressure by choking off the sale of Russian oil to the likes of China and India.
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of “The War on Cash.”
