How Russia Put Its Future at Risk by Remaking Its Economy for War

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by Paul Sonne

February 24, 2026

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Russia's heavy military expenditure on the war in Ukraine is putting its future at significant risk by neglecting long-term economic development. President Vladimir Putin has prioritized the conflict above all else, redirecting half of the federal budget towards the war effort. While this strategy has temporarily stabilized Russia's position in the conflict, it comes at a substantial cost—both human and economic. The financial allocation on tanks, shells, bombs, and military benefits yields no lasting developmental value, according to Alexandra Prokopenko, a former Russian central bank official. Before the war, Russia faced challenges like economic stagnation, reliance on natural resource extraction, and a shrinking population due to declining birth rates. Authoritarianism further compounded these issues. The invasion of Ukraine in 2022 intensified these problems by diverting state resources into military efforts,

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Originally published on NYT Homepage on 2/24/2026