The Russian economy has been financing a full-scale war against Ukraine for three years. Military spending has spun up the inflation flywheel, drained labor resources, and taken away most of the reserves that were accumulated in peacetime.

The latest major Russian attack comes a day after Ukraine fired six British Storm Shadows and six US-made ATACMS ballistic missiles during its largest aerial bombardment of Russia in the war so far. Ukraine’s military command called the aerial attack on Tuesday morning, which also involved hundreds of drones, Kyiv ’s “most massive” yet.