How Russia and Putin defied sanctions to achieve Top Income Status in World Bank's latest rankings

Russia has been promoted to the high-income category by the World Bank for the 2025 fiscal year. This surprising rise, despite Western sanctions due to the Ukraine war, is attributed to a significant increase in military-related activities, boosting GDP and GNI per capita by 11.2%. A noted Russian economist, Prof. Alexander Dynkin, highlighted Russia's self-sufficiency in energy, raw materials, food, and skilled labour as key factors. President Putin emphasised expanding ties with Africa, the Middle East, and Asia. While Russia’s economy is growing, mainly due to war expenditures, the well-being of its citizens remains in question.