ONE trillion dollars. That may be the cost to Russian investors of Vladimir Putin’s rule. It is the equivalent of about $7,000 for every Russian citizen.
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The calculation stems from the fact that investors regard Russian assets with suspicion. As a result, Russian stocks trade on a huge discount to much of the rest of the world
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Most Russian citizens will not notice the problem since they do not own stocks individually or collectively
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The more the government spends on interest, the more it has to tax its citizens and the less money it has available to spend on services.