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The Russian government is artificially propping up its economy and lying to its own people, said Czech Foreign Minister Jan Lipavský in a post on X, as reported by Ukrinform.
“The Russian economy is surviving only due to artificial stability, strict control, and wartime populism. Official statistics no longer reflect reality, and economic strain will only grow as the war continues,” Lipavský wrote.
Russians are facing rising inflation, while state-controlled media blatantly lie. According to Lipavský, the seasonally adjusted annual inflation rate reached 4% in June 2025, but actual price increases in services, energy, and imports are much higher. The burden falls hardest on the poor, he noted, while propaganda paints an illusion of success.
“Typical Putinism. The Kremlin distorts reality and manipulates the public — a scenario we know all too well from our communist past,” the Czech diplomat emphasized.
Lipavský also warned that the Kremlin is lying to itself. Non-performing loans in Russian banks have already increased by 1.2% this year, and are expected to reach 6–7% by 2026. Some banks are already pleading for state assistance. While Moscow claims the banking sector is stable, it is pushing financial institutions to restructure loans instead of addressing losses. Official figures, Lipavský argued, are merely a façade to hide deepening problems.
“The more the Kremlin manipulates and lies, the more severe the consequences will be.”
The minister underscored the importance of European unity and called the new EU sanctions package a step in the right direction.
As reported, the EU adopted its 18th sanctions package last week, focusing primarily on Russia’s energy and banking sectors.
