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Get access to global coverage at an exclusive 35% discount at https://economist.com/moneymacro Further reading mentioned in the video: Russia’s besieged economy: https://www.economist.com/finance-and... Ukraine’s hellfire is intensifying the Kremlin’s fuel crisis: https://www.economist.com/europe/2025... Vladimir Putin is testing the West—and its unity: https://www.economist.com/leaders/202... If you appreciate the research, consider buying me a 'coffee' at https://ko-fi.com/moneymacro or supporting long-term for membership benefits via: / moneymacro WANT AN IN-DEPTH INDUSTRIAL POLICY MASTERCLASS? △ https://school.moneymacro.net/p/indus... LIKE CHATTING ECON WITH ME? △ Follow me on Twitter: / joerischasfoort △ Follow me on LinkedIn: / joeri-schasfoort △ I have a private Discord server for Senior and Chief economist Patrons / members. SOURCES: I've linked my sources in the blog that goes along with this video. Links are in the text. https://www.moneymacro.rocks/2025-10-... Timestamps: 00:00 Intro 01:10 Why Russia’s war economy is surprising 03:05 War economics 101 05:01 The monetary trilemma 09:57 Why Russia’s war economy will NOT collapse 13:34 Is Russia’s war economy just getting started? 16:21 Conclusion and sponsor Attribution: Music by Epidemic Sound: http://nebula.tv/epidemic Thank you to AP Archive for access to their archival footage. Stock footage and others clips by Getty Written by Dr. Joeri Schasfoort Edited by Natalia Karpacz