A leaked European intelligence brief says Vladimir Putin’s war economy is pushing Russia towards an ‘explosive’ banking crisis, with more than 500,000 people declared bankrupt in 2025 and banks increasingly exposed to bad loans, it was reported on 6 July 2026.
The assessment, prepared for EU officials ahead of a new sanctions push, centres on Russia’s lenders, household debt and the sheer strain of financing a war that refuses to get cheaper.
After War Lending Surge
The news came after months of signs that Russia’s financial system has been under pressure, even if official language in Moscow has stayed calm and managerial. In February, the Kremlin-aligned Centre for Macroeconomic Analysis and Short-Term Forecasting said a banking crisis…