18 September 2025
Publications
Stagflation and an impoverished population: how the Kremlin is paying for the war against Ukraine
Stagflation and an impoverished population: how the Kremlin is paying for the war against Ukraine

Russia's economy has been knocked off balance. Record levels of military spending, low energy revenues and the depletion of the National Wealth Fund are taking their toll. Macroeconomic indicators point to the onset of stagflation in the Russian economy.

News
05:21
Warehouses catch fire after Russian drone attack on Kyiv Oblast
06:55
Putin sacks close adviser Kozak who called for talks with Ukraine, preferring to prolong war – ISW
Putin sacks close adviser Kozak who called for talks with Ukraine, preferring to prolong war – ISW
07:24
Russian attack on Poltava Oblast causes power outages, several trains delayed
07:37
Russia loses 930 soldiers and 33 artillery systems over past day
08:22
Battlefield sees 184 combat clashes, hottest situation on Pokrovsk front – Ukraine's General Staff
09:06
Drones attack Russia's Volgograd, home to Lukoil refinery
09:25
Polish defence minister arrives in Kyiv
Polish defence minister arrives in Kyiv
09:27
Ukrainian air defence downs 48 Russian drones overnight, 26 drones hit targets
10:12
Gas stations in Russia close due to force majeure at refineries – Russian media
10:46
Russians hit Chernihiv Oblast's Nizhyn, killing rescue worker and wounding two others
11:04
Zelenskyy signs off ratification of 100-year partnership agreement with UK
11:20
Ukrainian drones hit Volgograd oil refinery, operations suspended
Ukrainian drones hit Volgograd oil refinery, operations suspended
11:39
Ukrainian parliament backs petition to award Hero of Ukraine title to murdered former MP Parubii
Ukrainian parliament backs petition to award Hero of Ukraine title to murdered former MP Parubii
12:44
Explosions and fire erupt at Gazprom petrochemical plant in Russia's Bashkortostan after drone strike – photos, video
12:50
Poland and Ukraine to sign drone cooperation agreement, Polish defence minister says
12:58
Ukrainian ground drone Rys PRO evacuates wounded soldier from frontline
13:35
Ukraine's Security Service drones responsible for Bashkortostan petrochemical strike, sources say – video
Ukraine's Security Service drones responsible for Bashkortostan petrochemical strike, sources say – video
13:38
Kremlin press secretary insists that Putin ally Kozak resigned
13:57
What the politicisation of Iryna Zarutska's murder in the US means for Ukraine
14:23
UK police detain three alleged Russian spies
UK police detain three alleged Russian spies
14:26
Number of casualties rises to 5 after Russian 17 September strike on Poltava Oblast – photo, video
15:00
Ukraine and Poland set up joint working group on UAVs, Ukrainian defence minister says
15:07
Ukraine brings back bodies of 1,000 fallen defenders
15:33
Russians drop FAB-250 bomb on Kostiantynivka: five killed – photos
16:19
Zelenskyy reports on new counteroffensive
Zelenskyy reports on new counteroffensive
17:10
European Commission to present 19th sanctions package against Russia on 19 September 
17:12
Ukrainian Armor begins serial production of UB60D FPV drone with 60-mm mortar
17:47
Ukraine considers former Polish PM's remarks about Zelenskyy provocative and unacceptable
Ukraine considers former Polish PM's remarks about Zelenskyy provocative and unacceptable
17:57
Putin has disappointed Trump, once again – video
18:17
Russia considers new tax hike despite Putin's pledges – Reuters
18:18
Some US weapons funded by NATO already in Ukraine, more on the way
18:19
Why a political crisis has erupted in Lithuania and whether it poses risks for Kyiv
18:39
Trump sees Russian oil revenues as key factor in forcing Putin to peace
19:39
Civilian injured in Russian drone attack on Kyiv Oblast
19:41
Russian drone debris found in Latvia
Russian drone debris found in Latvia
20:16
EU rushes to cut off Russian LNG under pressure from Trump – Bloomberg
EU rushes to cut off Russian LNG under pressure from Trump – Bloomberg
21:07
Russians drop aerial bombs on Vozdvyzhivka in Zaporizhzhia Oblast: four injured
21:25
Ukraine will soon increase interceptor drone launches to 1,000 per day – Ukrainian defence minister
Ukraine will soon increase interceptor drone launches to 1,000 per day – Ukrainian defence minister