Russia’s economy is an ‘illusion’ built on debt, and a banking crisis is ready to explode, intel report says, while the Kremlin may seize pensions

Russia's economy faces a banking crisis due to high consumer and corporate debt, with 10% of corporate loans and 15% of retail loans at top banks potentially non-performing. The Kremlin may target pension savings to address budget shortfalls as energy revenue declines and the Ukraine war strains finances.