Part 5/14:
This wave of asset confiscation underscores the Kremlin’s desire to reassert control over key industries, especially those related to strategic resources such as gold. It also hints at a shrinking financial safety net for Putin, with Russia’s national wealth fund—once a major buffer—dwindling rapidly. Liquid assets have plunged to the lowest levels in years, threatening to run out by 2026 if current spending—and war efforts—continue unabated.