Russia Ukraine war latest: Putin minister issues recession warning while Russia admits massive losses on frontline

Russian ambassador to the UK has unintentionally confirmed Russia’s huge losses on the battlefield.

The ambassador Andrey Kelin, speaking to the CNN, dismissed the a million casualties determine however stated that “about 600,000” Russian troopers had been combating in Ukraine

The figues additionally tallies with Ukrainian estimates from January.

Mr Kelin then answered a query on Russian military recruitment.

“I am not a specialist on this space, however as I perceive it we have now 50-60,000 a month, these volunteers who’re coming, recruiting, posting, they usually want to get engaged on this factor (in Ukraine),” he stated.

Russian economic system is more likely to face recession quickly, the nation’s economic system minister stated yesterday.

Russia is internet hosting the St Petersburg Worldwide Financial Discussion board for the fourth time since invading Ukraine in February 2022, an offensive that precipitated sweeping Western sanctions on Moscow and a widespread company exodus from the nation.

The economic system minister Maxim Reshetnikov stated Russia’s economic system on the verge of recession, however claimed there’s home cash to spend after two years of elevated defence spending fuelled development.

“The actual query is: the place are the buyers?” stated one Russian participant of the discussion board who spoke on situation of anonymity.

Sergei Aleksashenko, a former deputy governor of Russia’s central financial institution now dwelling overseas, stated few severe companies would take into account Russia as an funding vacation spot even when the battle had been to finish tomorrow.

“Everybody can clearly see the state of affairs with property rights is getting worse day by day,” Mr Aleksashenko advised Reuters.

“Stopping the battle itself doesn’t considerably cut back the extent of political dangers,” Mr Aleksashenko stated, pointing to market dangers as nicely.