In this episode, we delve into how the Russian economy transitioned into a wartime economy. What does the structure of the Russian economy and the 2024 state budget reveal about Putin's strategy? Does the Kremlin possess sufficient resources for a long war? Will Russia persist in gradually nationalising remaining foreign assets? Will the government seize the assets of Russian business figures who have not explicitly endorsed the war? How does this affect the sentiment of large and small businesses in Russia? 

ECFR’s new podcast on Russia, “Under the Overcoat”, explores the deeper trends beneath the surface of daily politics. To dive deeper into Russia’s economy during war, our host Kadri Liik is joined by Mikhail Komin, ECFR visiting fellow, and Andrei Yakovlev, economist and fellow at German research institute Hanse-Wissenschaftskolleg. 

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