russia’s financial “rainy-day fund” is being rapidly depleted by the war and sanctions
One of russia’s largest state-owned banks has acknowledged that the liquid portion of the National Wealth Fund (NWF) could be fully exhausted within a year. ▫️ According to estimates by Gazprombank’s Center for Economic Forecasting, at current oil prices ($36–40 per barrel), the Fund’s resources would last approximately 1–1.3 years. If prices fall to $30–35…