Alexander Mertens is a finance professor at the National University of Kyiv-Mohyla Academy and an economics and finance professor at the International Institute of Business in Kyiv, Ukraine.
The recent hike in Russia’s key interest rate to 21% by the Central Bank in late October has stirred renewed debate among media and economists about the Russian economy’s outlook and how economic trends could influence Kremlin policies. Today, few predict an "imminent collapse" of the Russian economy. However, signs of deteriorating trends and economic challenges confront Russian President Vladimir Putin's regime with a dilemma: continuing the aggressive war or quickly ending it are both likely