The end of Putin’s regime will spring from war spending chaos, former central bank advisor says

Ukraine’s intelligence service reports that Moscow is using war expenditures as a tool to enforce loyalty among regional governors, signaling deepening financial control measures. Coverage from *The Economist* and *Financial Times* frames Russia’s war economy as structurally unsustainable, though not yet in immediate collapse, while *Fortune* cites a former central bank advisor linking regime instability directly to war spending chaos.

Reuters’ *Breakingviews* and *The Economist* emphasize systemic fragility rather than an imminent crisis, focusing on long-term erosion rather than abrupt failure. No single outlet claims a definitive timeline for collapse, but all underscore the unsustainability of current policies.

Watch for: (1) Further leaks or reports on governor compliance mechanisms tied to war funding; (2) shifts in Western sanctions or secondary economic pressures that could accelerate instability; (3) signals from Russian officials or regional leaders about fiscal or political adjustments. Coverage does not yet specify whether military performance or domestic unrest will trigger the next phase of crisis.