Via Foreign Policy
Russia began its invasion of Ukraine on the 24th of February 2022, and ever since, both countries have not been doing well economically. A big part of the Ukrainian economy relies on manufacturing however, due to the ongoing war with Russia it has been arduous for Ukraine to manufacture any kind of goods. Ukraine is also known for its exports, especially seed oils, however, after Russia's claimed invasion of Mariupol(one of Ukraine’s main seaports) has stopped various kinds of export. The World Bank has predicted for Ukraine’s economy to collapse by 45.1% amid Russia’s invasion.
Russia’s invasion of Ukraine has put them on the verge of bankruptcy. Interest rates have doubled, the stock market has fallen at a very large scale, and the rouble/ruble(Russian currency) has fallen immensely to add to that Russian citizens are not even allowed to convert any of the money they have into any foreign currency. Economists estimate that the Russian economy which was predicted to increase by 2% in the next year is now predicted to fall by 15% due to their invasion of Ukraine and even if Putin reaches a point where he claims victory over Ukraine, it will be worse for the economy of Russia, Installing a puppet government and occupying Ukraine would involve the responsibility of rebuilding the destroyed infrastructure which is something Russia cannot afford at whatever cost. Meanwhile, the European Union is projected to drastically decrease its energy dependency on Russia.