Tuesday, November 5, 2024

Vladimir Putin crippling economy as Ukraine war costing Russia 1.7m workers

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In addition to haemorrhaging troops in Ukraine, Vladimir Putin is also threatening to cripple the Russian economy with his commitment to the war, a new report noted.

Analysis from the independent news outlet Novaya Gazeta Europe suggested that up to 1.8 million Russian men have been deployed to Ukraine since the start of the war in 2022.

The approximation included both professional military personnel and adult males called up to serve when Putin announced a partial mobilisation in September 2022.

Ukraine this week updated its estimate of Russian casualties since the start of the war to 565,610 – including both soldiers killed and injured.

Estimates of Russian losses have varied as the Kremlin has not provided an update in months, and the range of losses and injuries has varied.

However, a large number of Russian men involved in the war have also returned home with permanent injuries and are unable to fill the roles they held before the war.

The Russian outlet argued that Putin’s refusal to end the war in Ukraine suggests more men could be conscripted or pushed into volunteering, cutting the workforce further.

Economists have warned the surge in military personnel could have a long-standing impact on Russia’s economic growth because of the shortage of labourers.

They warn the workforce drop could increase wages ultimately driving up inflation.

Novaya Gazeta estimates that the Russian economy could lose “between 1.7 million- 1.9 million people in total between the start of 2022 and the end of 2024” even if Putin were to decide not to call for further mobilisation.

They suggested another call to arms would deliver a much bigger hit to the economy, as up to another 2.8 percent of the whole Russian workforce might have to head to Ukraine.

The workforce crisis had also been exacerbated by the departure of an unprecedented number of Russian men and women from the mainland since the start of the war.

Independent outlet The Bell found that since the invasion, “at least 650,000 people that left Russia have yet to return.”

A large number of Russian passport holders leaving the country have headed to neighbouring states, namely Armenia, Georgia and Kazakhstan.

The publication, however, noted that the countries experiencing a surge in arrivals from Russia had not responded to requests to share official numbers and that theirs was a “low estimate.”

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