The governor of the Central Bank of Russia has announced the launch, by 2025, of the new 1,000 ruble banknote, worth around 9 euros, which will depict the Meteor, a high-speed passenger hydrofoil. This symbolic choice, designed to evoke speed, innovation and connection, however, seems in stark contrast with an economic reality marked by international sanctions, growing military spending and increasingly marked social inequality. In such a context, a question arises spontaneously: how many of these banknotes will actually end up in citizens’ pockets?
The Russian economy is therefore facing increasingly difficult challenges. As reported by the Economist, Vladimir Putin is grappling with a situation marked by growing inflation and state resources severely tested by the conflict in Ukraine. Despite this, some analyzes indicate that Moscow may still have the reserves necessary to support the war effort. The International Institute for Strategic Studies and the Carnegie Russia Eurasia Centerin fact, they estimate that Russia is able to finance military operations for at least another two or three years, an objective that can however be achieved at an extremely high human and economic cost.
Since February 2022, Russia’s invasion of Ukraine has resulted in massive human losses and exorbitant economic expenses. According to the Ukrainian General Staff, Russian victims, including dead and wounded, would exceed 750,000, while Western estimates, reported by Sky TG24, reduce the figure to around 600,000. Faced with these figures, the Kremlin, which has avoided disclosing official statistics for months, has intensified recruitment, aiming to increase the number of active soldiers to 1.5 million. Including support personnel, the Russian army could now reach a maximum of 2,389,130 personnel, as set by a recent decree. This is the third expansion of the military since the invasion began, but experts believe it will not be the last, given the ongoing conflict and the need to prepare for potential future clashes.
At the same time, the government introduced large compensation payments for the families of fallen soldiers. In June 2022, a decree established an indemnity of five million rubles (around 75,900 euros) for the families of soldiers who died during the SVO (Specialnaja Voennaja Operacija) in Ukraine or in other missions.
According to Vladislav Inozemcev, an economist quoted by the Wall Street Journal, these compensations, which can exceed 150,000 euros including monthly subsidies and tax breaks, represent an increasingly difficult public expense to sustain. At the same time, they contribute to a paradoxical phenomenon of “wealth redistribution” in the most disadvantaged regions of the country, where the conflict has had a particularly significant impact.
Rural and peripheral areas, already marked by endemic poverty, see the war as an opportunity to guarantee an economic future for families, even at the cost of their lives. This mechanism, although it provides temporary relief to many struggling families, turns the lives of young soldiers into a monetary bargaining chip.
The overall cost of these compensations, given the estimated 750,000 fallen soldiers, could exceed 75 billion euros, further worsening an already weakened economy. However, it should be underlined that the actual figures may differ, as the available information does not always offer a complete picture of the situation on the ground, due to the complex and constantly changing nature of government policies and the war context.
With a front worn down by devastating losses and a growing shortage of soldiers, the role of the private military company Wagner is strengthened, having now become a parallel instrument to the official armed forces. Known for its operations in Syria, Libya and Ukraine, Wagner is conducting an intensive recruitment campaign through the ‘Wagner Legion Istra’. Using concerts, visits to military facilities and autograph sessions with veterans, the company promotes an image of patriotism and sacrifice, trying to attract new soldiers, often young people from the most disadvantaged regions.
A significant example of this strategy is the interview on channel 360, where five Wagner commanders addressed an appeal to young Russians (a sort of Call to Arms), recounting their experience and promoting the values of the group. These leaders – Radimir, Marks, Rusich, Ratibor and Kep (nom de guerre) – underlined Wagner’s strict code of ethics, declaring: “Prigozhin he was the founder of Wagner, but the true essence of the group lies in the men who are part of it. They are patriots who fight for the motherland, men whose sacrifice is in the service of a national cause. This is what we want to pass on to the new generations of fighters”.
However, there is no shortage of contradictions. On the one hand, the commanders reiterate the Wagner code of ethics and honor, which prohibits looting, rape and violence against civilians. On the other hand, missions in Africa and the Middle East have been marked by allegations of human rights abuses and violations, raising doubts about the real application of these principles. Added to this is the economic weight of Wagner’s activities, supported by public and private resources, which further aggravates an already compromised financial situation.
The cost of the conflict is also reflected in the impressive numbers of Russian losses reported yesterday by Ukrainskaya Pravda: 369 aircraft, 329 helicopters, 9,532 tanks, 19,644 armored vehicles, 21,073 artillery systems, 1,023 anti-aircraft systems, 1,253 multiple rocket launchers, 31,127 vehicles and tankers , 28 ships and 20,111 tactical drones, as well as the ‘Rostov-on-Don’ submarine. Translated into costs, these losses amount to over 150 billion euros, a figure that grows dramatically when including materials, logistics and labour.
Socially and economically, the new 1,000 ruble note, with its appeal to speed and innovation, increasingly appears like a tone-deaf symbol in a stagnant economy. Russia seems suspended between a display of strength and a reality of internal attrition. And while the Meteorglides swiftly across the water, the real question remains: how many more lives will be lost before this cycle of destruction finds an end?
