Russian economy on brink of collapse in 2025 – Ukrainian sanctions envoy

Vladyslav Vlasiuk, the Ukrainian president's commissioner for sanctions policy, said this on Ukrainian television, Ukrinform reports.

"The most important conclusion we can draw at this point is that the Russian economy is confidently heading for collapse. This is a significant achievement of the sanctions imposed by us and our international partners, even if not all measures have been comprehensive," he said.

Vlasiuk highlighted the severe economic challenges Russia is facing, particularly in sectors unrelated to its military industry. In his opinion, these pressures will culminate in a collapse of the Russian economy in 2025.

He also stressed the ongoing work required by Ukraine and European Union states to enhance the effectiveness of sanctions against Russia and its allies.

"The European Union has sanctioned approximately 76 tankers in Russia's shadow fleet. Combined with actions by the United Kingdom and the United States, the total stands at around 120 tankers. While this has created significant hurdles for Russia in selling oil to India and China, increasing logistics costs and reducing profits, the shadow fleet numbers at least 600 tankers. And this is not only Russian oil, there is also Iranian oil, there is also Venezuelan oil. We must say frankly that the issue is larger and older than it seemed -- it didn't originate this year [in 2024] or with Russia alone," Vlasiuk said.