British Intel: War against Ukraine likely to negatively impact outlook of Russian economy

Russia’s war against Ukraine is highly likely to negatively impact the outlook for the Russian economy, an intelligence update by the UK Defense Ministry has suggested.

“Imports have risen faster than exports, likely contributing to the rouble depreciating since the start of the war – highly likely a driver of inflation. As Russia ramps up its defense spending at the cost of other areas, the risk of the Russian economy overheating remains likely,” the British intelligence said on X.

Latest Defence Intelligence update on the situation in Ukraine – 18 January 2024.

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