Although its economy is very vulnerable, Moscow has no financial incentive to stop the war.
Russian President Vladimir Putin may reconsider his position on continuing the war against Ukraine if the West can squeeze Russian oil revenues, according to a Reuters study. Despite the sanctions and restrictions, Russia had a positive trade balance of $51B last year. The situation may change if Ukraine’s allies can reduce Russia’s export earnings to the extent that it would lead to a deficit in the balance of payments. Exports could fall by $80B. However, the Russian Federation may refuse