1/5 Russia’s 3.5% GDP growth and soaring inflation in 2024 were two sides of the same coin, both driven by war spending, lending & tight labor market. @KSE_Institute January Chartbook: 🇷🇺 Economy in Early 2025 –Vulnerabilities, Depleted Buffers, No Crisis.

5/5 The reality is clear: staying in Russia = financing the war. Every day they stay, billions flow to the Kremlin. Leaving is possible. Leaving is necessary. Leaving is urgent.

7/7 Chinese and UAE firms keep Russia’s oil flowing above the price cap. In Dec, China’s Prominent Shipmanagement handled 5% of crude exports, while three Chinese and four Emirati firms controlled 9% and 16%. Greek companies led oil product shipments with 15%.

6/6 Selling to Russia’s shadow fleet pays well: Greek film producer Paris Kassidokostas-Latsis sold two tankers for $84M via Marla Tankers—nearly double what he paid six years ago. Belgian firm Euronav (now CMB. TECH) made $135M off five vessels that later joined 🇷🇺 fleet.

2/2 Strong revenues helped offset the heavy spending: oil & gas revenues surged 26%, non-O&G revenues rose 26%, and spending increased 24% vs 2023.