Economist Igor Lipits Explained Why The Kremlin Decided To Attack Ukraine

Russia has lost all hope of economic development.

Russian economist Igor Lipits identified the main reason behind the decision to start a war with Ukraine. He shared his conclusions with viewers of the YouTube channel The Breakfast Show.

According to him, this decision had no economic logic behind it: “This issue had no economic dimension whatsoever. I recorded a video. It’s on my channel. A video about why the war started. It made no economic sense; it wasn’t intended to yield any benefit for Russia, cooperation, or any other strategic positioning. It was an exclusively ideological construct. It was devised to protect Putin and preserve his position amid economic stagnation and the downturn of the Russian economy (the new so-called ‘Putin stagnation’).”

The expert also spoke about the fatal miscalculations made by those who organized the attack on Ukraine and the long-term consequences they have had for the Russian economy: “Everything was handled so incompetently from an economic standpoint that it will have long-lasting, dire economic consequences for Russia. From my point of view, Russia has now been economically destroyed. It will never be able to return to sustainable growth. Russia has lost its scientific and technological potential, and we economists proceed from the assumption that scientific and technological progress is the main driver of economic progress. If you are unable to fuel economic progress with scientific and technological developments, then how will you become wealthy?”

Lipits emphasized that neither oil revenues nor the lack of technological growth will be able to sustain the country, and that the demographic situation in Russia continues to deteriorate at an accelerated pace: “Oil will not sustain Russia, nor will scientific and technological progress. Russia is experiencing rapid depopulation, and the Russian press is already publishing forecasts that by the end of the century, only 70 million people will live in Russia—that is, half as many. Fewer people, no technological progress, no income—what economic benefits could there possibly be? Russia has lost all chances for economic development and cooperation with Europe, and without cooperation with Europe, it has never developed,” Lipits concluded.

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