Business

Russia’s budget is coming apart at the seams. The war is extraordinarily expensive for Russia, and unlike Ukraine, it has no partners to help carry the burden. Its only real lifeline is the price of oil, which is why it is so important to preserve sanctions against Russia and prevent the Kremlin from turning oil revenues into ballistic missiles.

Between 2025 and 2026, Ukraine’s miltech sector made a significant leap forward: dozens of companies are now producing advanced weapons tested in real combat against the Russian army. In just a few years, the industry has grown fiftyfold in monetary terms alone.

Russia’s wartime spending is running into a problem: how to maintain record levels of military output as hydrocarbon revenues decline, reserves are depleted, and the budget comes under growing strain.

You may already know the long journey coffee takes from distant farms to expert roasters to your morning mug. Now add Russian airstrikes to that process. Across Ukraine, even under fire, people still brew. This is how they keep the ritual alive.

Under the sound of incoming drones and missile strikes, a small farm in Ukraine’s Kherson region continues to operate. They are feeding the country, whilst living on the frontline of Russia’s war.

Nearly four years into the war, investment in Ukraine’s defense-tech ecosystem continues to rise, making it one of the few industries in the country experiencing growth. This raises a simple question for investors: why park your money in Ukraine?