Foreign affairs analysts note that Russia currently controls approximately 20% of Ukrainian territory, a significant portion of which is in complete ruin. Too few people are left in the occupied territories for an economic boom to occur. There is also a lack of industry and infrastructure suitable for commercial production. Even those territories occupied in 2014 that did not suffer significant damage have not yet restored their economic output to 2013’s level.
Currently, the occupied territories depend entirely on subsidies from the Russian budget. Even more, any possible economic benefit that Moscow could receive from these conquered territories will not only be meager, but will have also come at a staggering price.
In addition to the hundreds of thousands of Russian soldiers killed in combat, Russia’s material losses are also on an unimaginable scale. From 500,000 to 1.3 million young, educated, and wealthy citizens have fled Russia itself, and sanctions have seriously damaged the economy.
“So it is unlikely that Putin will go down in history as the one who won an economic and strategic prize for Russia,” analysts conclude.