Is Russia Actually Losing?
Patrick Boyle On Finance

Is Russia Actually Losing?

2026-07-12
Russia's war economy is running out of road. Ukrainian drone strikes have knocked out roughly a third of Russia's oil refining capacity, forcing an energy superpower to ration petrol at home and import gasoline from India — while Crimea sits under a state of emergency with the air-raid sirens switched off so the tourists aren't disturbed. In this video we look at what the numbers actually say: a contracting economy despite record military spending, a National Wealth Fund down from 6.5% of GDP to 1.8%, a first-quarter b...
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