Jason Jay Smart

Russia’s economy is unraveling under the weight of war, inflation, and a collapsing credit system. While the Kremlin projects strength, the reality is catastrophic:
-Credit card defaults have surged by 70% in four months.
-Banks are bleeding liquidity despite emergency repo auctions
-Food inflation has hit 92% (potatoes), 48% (onions), 36% (butter)
-Interest rates remain stuck at 20%, strangling growth
-The state has capped cash withdrawals to prevent a silent bank run

… And now, even the Kremlin’s own economists are sounding the alarm:
According to a new report from Moscow’s Center for Macroeconomic Analysis and Short-Term Forecasting (CMASF):

💥💥”A systemic banking crisis… would involve at least one of three conditions: non-performing loans exceeding 10% of total banking assets, a significant withdrawal of funds by depositors, or large-scale bank recapitalizations exceeding 2% of the country’s GDP, ” reports The Moscow Times in June 2025.

👉 This is no longer just an economic downturn. This is the implosion of Putin’s war economy from within.