The Economic Trap Keeping Putin in the War

Mike sits down with author and sanctions expert Edward Fishman to break down the mounting economic pressure on the Kremlin. They discuss how Western restrictions on Russian oil exports are cutting deep into Moscow’s revenue, why the sanctions regime is proving more durable than many expected, and how the strain on Russia’s finances is creating a political trap that makes it far harder for Vladimir Putin to wind down the war in Ukraine—even if he wanted to. Fishman lays out what the numbers show, how the Kremlin is attempting to adapt, and why the economic squeeze could shape Putin’s next moves on the battlefield.