# Russia may not win prolonged war of attrition, economist warns 2026-08-16T10:24:20+00:00 | World & Diplomacy | Indian Opinion Desk Corroboration: 1 independent outlet Andrei Klepach, chief economist of Russian state-owned bank Vnesheconombank (VEB), has warned that Moscow may not be able to defeat Ukraine in a prolonged war of attrition. Speaking at a session of the Nikitsky Club, he said Western sanctions, soaring military spending, and Ukrainian strikes on ports, oil refineries, and chemical plants are mounting economic costs. The Moscow Times reported his remarks. Klepach said Russia is losing the technological and economic competition globally, falling behind not only China and the US but also Ukraine, whose economy is surviving with massive financial assistance. He warned that Russia's economy entered a recession this year, with civilian industries such as aviation, construction, and food production in decline. The central bank's strict policies are responsible for roughly half the downturn, he added. He cautioned that the conflict, now longer than the Great Patriotic War, shows no end in sight and that losses from Ukrainian strikes are becoming a significant macroeconomic barrier. US President Donald Trump's tightened sanctions have pressured India and China to reduce purchases of Russian oil, limiting growth to 1-1.5%. Klepach predicted these pressures could lead to a social crisis in Russia. ## Coverage - livemint.com This story was synthesised by AI from the source linked above. Tags: Andrei Klepach, Russia, Ukraine, Vnesheconombank Canonical: https://indianopinion.org/russia-may-not-win-prolonged-war-of-attrition-economist-warns/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/russia-may-not-win-prolonged-war-of-attrition-economist-warns/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes. How this brief was made: an AI model read the report linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/