Moscow plans tax hikes and spending cuts to sustain defense spending as the economy strains under war costs, shrinking oil revenues, and Western sanctions, Reuters reports. Falling energy profits, not concessions, could force the Kremlin toward negotiations of a peace deal with Ukraine.

Moscow plans tax hikes and spending cuts to sustain defense spending as the economy strains under war costs, shrinking oil revenues, and Western sanctions, Reuters reports. Falling energy profits, not concessions, could force the Kremlin toward negotiations of a peace deal with Ukraine.

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