Russia’s economic challenges are expected to worsen in 2025, driven by rising military expenditures and the impact of international sanctions, the UK Ministry of Defence informed on X. According to the report, on October 25, the Central Bank of Russia (CBR) raised its based interest rate to 21 percent. This is the highest rate since the beginning of Russia’s invasion of Ukraine and reflects the CBR’s concerns about rising inflationary pressures in the Russian economy. CBR governor Elvira Nabiullina stated that “more drastic changes” regarding monetary policy might be needed to deal with inflat…