Eight EU finance ministers have highlighted that the Kremlin is disseminating fa…

In their letter, the ministers outlined numerous indicators that Russia’s military-driven economy is faltering. While current sanctions are effective, they emphasize the need for increased pressure on Putin’s regime and ongoing support for Ukraine.

Putin’s claims of robust economic growth are primarily fueled by the military industry and government subsidies, signaling an overheated rather than a stable economy. The ministers pointed out that military factories are operating at maximum capacity, and labor shortages are so severe that prison terms are reportedly being replaced with forced labor.

Other economic issues highlighted include:

– Rising inflation that remains uncontrollable despite high interest rates.
– Halving of the National Welfare Fund’s liquid assets.
– Embargoes on fuel and sugar exports.
– Strict capital withdrawal controls.

The letter warns that if Putin does not alter his policies, the Russian economy could face significant losses. Achieving this will require time, patience, and stronger sanctions, particularly in strategic sectors like energy, finance, and technology.

The ministers also stressed the importance of continuing and intensifying support for Ukraine, including more weapons and ammunition. They reiterated their countries’ substantial financial and military contributions to Ukraine, pledging to maintain this support as long as necessary.

The column was signed by the finance ministers of Sweden, Denmark, Estonia, Finland, Latvia, Lithuania, the Netherlands, and Poland.

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