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Russian banker fired over wartime economy speech
Archived — this story has rotated out of today’s deck. It is kept here in full.
The gist
VEB.RF fired chief economist Andrei Klepach after he warned Russia's economy lags China, US, and Ukraine.
The firing signals Kremlin intolerance for public dissent on wartime economic policy.
Background
Andrei Klepach, chief economist at Russia's state development corporation VEB.RF, was dismissed after presenting a report warning that Russia cannot win an economic 'war of attrition' and that its economy is falling behind China, the US, and in some respects Ukraine. The dismissal follows a pattern of crackdowns on dissent regarding the war and economic policy.
How it unfolded
- earlier this yearKlepach presented a report warning Russia cannot win an economic 'war of attrition'.
- Aug 16, 2026VEB.RF dismissed Klepach following his statements about Russia's economic problems.
- Aug 17, 2026News of the firing spreads, with multiple outlets reporting on the dismissal.
Still unverified
The exact wording of Klepach's report and the official reason for his dismissal have not been publicly disclosed.