EconomyRussian state bank chief economist reportedly fired after warning of defeat in economic war with West

Andrei Klepach, chief economist at Kremlin-controlled state bank VEB.RF, was reportedly dismissed on Aug. 16, a day after Russian media circulated his warnings that Russia was losing its economic and technological competition with the West. He said Russia would not collapse but was almost certain to face a social crisis. The Kyiv Independent could not immediately verify the claims.

RussiaAndrei KlepachVEB.RFeconomic competition

TThe Kyiv Independent★★★☆☆2026-08-16 21:00Original