When Russia invaded Ukraine, it expected a quick victory. But almost a year later, Moscow continues to spend huge sums to send more soldiers and equipment to the front lines. Meanwhile, international sanctions are also targeting its primary source of revenue: oil and gas exports.

And yet, even as these costs of war climb and jeopardise Russia’s long-term economic growth, there are few signs Vladimir Putin will back down, no matter the long-term consequences.

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In this episode: 

  • Sergey Aleksashenko (@Saleksashenko), former deputy minister of finance and first deputy chairman of the central bank of Russia
  • Polina Ivanova (@polinaivanovva), Financial Times correspondent covering Russia

Episode credits:

This episode was produced by Miranda Lin with Chloe K Li and our host, Malika Bilal. Chloe K Li, Ashish Malhotra and Negin Owliaei fact-checked this episode.

Our production team includes Chloe K Li, Miranda Lin, Ashish Malhotra, Negin Owliaei, and Amy Walters. 

Our sound designer is Alex Roldan. This episode was mixed by Tim St Clair. Aya Elmileik and Adam Abou-Gad are our engagement producers. Alexandra Locke is The Take’s executive producer, and Ney Alvarez is Al Jazeera’s head of audio.

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