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Economist of Russia’s state-owned bank admits Russia’s defeat in a war of attrition with the West

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Economist of Russia’s state-owned bank admits Russia’s defeat in a war of attrition with the West

Economist of Russia’s state-owned bank admits Russia’s defeat in a war of attrition with the WestVEB Chief Economist Andrey Klepach said that Russia is losing the technological and economic competition, including to Ukraine. Hepredicts a social crisis in the Russian Federation due to rising costs and a declining economy.

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16 of August 2026

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