Russian economy

Putin eyes first tax hike in a decade to fund war

Putin’s consideration of implementing the first significant tax increase in over a decade to fund the ongoing war in Ukraine is alarming and speaks volumes about the priorities of the Russian government. As a Russian citizen, I can’t help but feel a sense of betrayal by a leader who is willing to burden us with higher taxes to fuel a conflict that many of us did not ask for. It is disheartening to see our hard-earned money being funneled into a war that only serves Putin’s interests, while ordinary citizens bear the brunt of the financial strain.

The fact that Putin is eyeing tax hikes on corporate profits and high-earning individuals to fund the war is a clear indication of the economic impact that the conflict in Ukraine is having on the country.… Continue reading

Ukraine pounds targets in Russia, key refinery seriously damaged

The situation between Ukraine and Russia continues to escalate, with Ukraine launching drone attacks that have successfully hit key Russian targets, including a crucial oil refinery. The impact of these attacks isn’t just about physical destruction; it’s also about the strategic losses that Russia is facing. Russian officials reported that the drones were forced to crash into an oil refinery, severely damaging a distillation unit and knocking out half of the refinery’s production. This is a significant blow to Russia’s economy, as they are losing billions of dollars worth of assets every week.

In modern warfare, there are no stalemates. It’s not just about front lines and land gains; it’s about hitting neuralgic points and strategically weakening the enemy.… Continue reading