Russia’s biggest state development corp fires Andrei Klepach, its chief economist, for saying in May that Moscow is losing its war of attrition with the West, and losing it ‘in some ways’ to Ukraine

VEB.RF, Russia's state development corporation, fired chief economist Andrey Klepach after remarks he made in May resurfaced in mid-August and went viral. Klepach had told a Moscow Exchange forum that Russia was losing its war of attrition with the West, and in some respects even to Ukraine, citing falling investment, stagnant productivity and mounting inequality. VEB.RF said his personal assessments did not match the corporation's own position; corporation head Igor Shuvalov removed him reportedly after a call from higher up.

Klepach, who spent twelve years in the post and eight more as a deputy economic development minister, had argued Russia would not collapse but would keep falling behind economically and technologically, warning of a possible social crisis comparable to 1917 or 1991. Independent economists quoted by The Bell called his analysis sound and unremarkable by professional standards; one critic countered that his conclusions were shallow and merely echoed complaints Putin himself has voiced about the central bank.

The dismissal came only after Klepach's months-old comments were picked up by The Moscow Times and spread widely, suggesting visibility, not novelty, triggered the firing.

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