Former Russian Finance Minister Warns Wartime Economy Risks Total Collapse
4 Articles
4 Articles
Former Finance Minister Zadorov calls Russia's transition to a war economy 'pure fantasy'
He stated that militarizing the economy is impossible and unnecessary, as it requires years of building new institutions, rules, and enforcement mechanisms. A sudden shift would break the working system and cause an economic downturn, which is...
Russia's economy is "no need" to be turned into a military one, which is "impossible" to do, as stated by former Russian finance minister (1997-1999) and former head of the Open Bank, Michael Zadornov, in an interview with RBC.
This was stated in an interview with RBC by Mikhail Zadornov, one of the last finance ministers of the Boris Yeltsin era, who held this position during the 1998 default.According to Zadornov, who until 2023 headed the bank FC “Ostitia”, and before that headed the retail The “daughter” of VTB, military, or militarized, economy is a fantasy of clean water, which will be impossible to realize. The military economy is a complete failure of the worki…
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