Rising internal pressures are stifling Russia on the fourth anniversary of the Ukraine war

Emily Ferris, a senior research associate at the Royal United Services Institute (RUSI), says the system's capacity to survive is not infinite and depends on very specific factors: “The sustainability of the economy depends on oil prices, the impact of Ukrainian attacks on refineries, and Russia's ability to continue exporting to China,” she says, adding that although the Kremlin has managed to make the economy appear “robust,” it does so at a significant social cost: “The government is pressuring its domestic companies with domestic loans, there is high inflation, and higher taxes; those who suffer most from this ‘squeeze’ are the middle class, not the oligarchs.”