IMHO, that's the key.
Will Russia print money to cover the shortfall?
Perhaps the ruble will end up like the Zimbabwe dollar.
Doesn’t matter. This is not a prediction, nor propaganda but a statement of fact looking at the Russian budget for 2022 and 2023
“S&P Global Commodity Insights estimates Russia’s fiscal breakeven oil price at $114/b in 2023, up from $64.47/b before its invasion of Ukraine, as the Kremlin’s outgoings to fund the war add to its overall budget spending.”
The top exports of Russia are Crude Petroleum ($113B), Refined Petroleum ($81.8B), Petroleum Gas ($37.7B), Coal Briquettes ($19.1B), and Gold ($19.1B)
The oil and gas add up to 50% of exports.
The remaining includes heavily military equipment which is on hold as Russia can’t produce enough for itself, leave alone exports
IMHO, that's the key.
Will Russia print money to cover the shortfall?
Perhaps the ruble will end up like the Zimbabwe dollar.