Russia’s War Economy: How It Survived—and What Comes Next

‘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.

9/27/2025|Updated: 9/27/2025

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.”