Russia's National Wealth Fund emptied — Kremlin faces painful choices

Russia's National Wealth Fund, designed to cover pension fund shortfalls, has been effectively emptied after the Kremlin drew on it heavily as the budget shifted from surplus to deficit. A commentator likens the behaviour to an addict raiding a family member's savings. The fund's depletion means Russia faces painful fiscal decisions, and the Kremlin is reportedly trying to conceal the scale of the economic crisis from the public.

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