Who can endure longer: Russia and Ukraine after four years on the brink of financial exhaustion

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Who can endure longer: Russia and Ukraine after four years on the brink of financial exhaustion

Four years have passed since the beginning of Russia’s invasion of Ukraine. What started as a "regional conflict” has escalated into a global economic shock that has fundamentally changed the way the world trades, spends, and invests.

As Ukraine marks four difficult years since the full-scale Russian invasion on February 24, 2022, the conflict has turned into an exhausting war of financial endurance. Although human and territorial losses remain at the forefront of global awareness, the key economic indicators of Russia’s invasion reveal immense pressure on the country and its international partners. Ukraine faces an unprecedented dual challenge: financing a continuous, day-to-day defense against

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