Russian dictator Vladimir Putin faces a "narrowing window" to reach a peace deal in Ukraine, as Russia struggles with a growing budget deficit to finance its war. This is reported by Bloomberg, informs UNN.
Details
Thus, according to unnamed sources familiar with the matter, Russian officials are concerned that budget expenditures this year will again exceed the planned level if additional war spending is needed: they are trying to find new sources of revenue of up to 1.2 trillion rubles ($16 billion) to balance the key budget indicator.
This is equivalent to an additional 0.5% of gross domestic product on top of the planned deficit for this year of 1.6% of GDP amid declining energy revenues and the impact of the artificial strengthening of the ruble
It is indicated that Moscow sees little chance of a breakthrough in peace negotiations.
While Russian and Ukrainian military delegations are clarifying technical details related to the implementation of any potential ceasefire, territorial disputes require political decisions at the leadership level
The authors add that Russia's budget situation could worsen further as US sanctions force oil producers to lower already low oil prices.
Recall
President of Ukraine Volodymyr Zelenskyy stated that territorial issues cannot be resolved without a direct meeting with the Russian leader. Ukraine is open to negotiations with the participation of Russia and the United States, and also counts on security guarantees.