Russia Is Raising Taxes and Seizing Assets to Keep the Ukraine War Funded: Russia can still finance its war in Ukraine, but the Kremlin is relying on increasingly costly ways to find the money. Moscow is raising taxes, cutting civilian investment, borrowing from domestic banks and taking control of private property as military spending exceeds earlier plans.
A Foreign Policy examination of Russia’s wartime finances describes a government with resources left to use, but fewer painless options. The question is no longer whether Vladimir Putin can pay for another year of war.