PoliticsRussia’s VEB.RF fires chief economist after warning it is losing the war of attrition
Russia’s state development corporation VEB.RF has dismissed chief economist Andrei Klepach over remarks that Moscow was losing its economic and technological race with the West and, in some respects, Ukraine. Klepach also warned that rising costs and imbalances could eventually trigger a serious social crisis.
MMeduzaOriginal★★★☆☆2026-08-17 17:07
Russian state economist fired after warning of bleak economic futureAndrei Klepach, chief economist at state development bank VEB.RF, was dismissed after warning that Russia was losing its economic “war of attrition” with the West, falling behind technologically and economically, and could face a social crisis. As the EU prepares broader sanctions, higher oil prices may still give Moscow time to sustain its war effort.
Senior Russian banker fired after warning over wartime economyAndrei Klepach, chief economist at state-controlled development bank VEB, was fired after criticizing Russia’s economic outlook and warning that Moscow could not win a prolonged economic war of attrition with Ukraine. He had said Russia was falling behind China, the US and, in some respects, Ukraine.
- Russia’s VEB.RF fires chief economist Andrei Klepach after remarks on losing economic ‘war of attrition’
Russia’s state development corporation VEB.RF dismissed chief economist Andrei Klepach after media circulated his remarks that Russia could not win the economic “war of attrition.” Sources linked the move to his criticism of Russia’s economic and political course, while VEB.RF confirmed his departure without giving a reason.
