Russian Economist Sacked After Warning War Is Hurting Economy

Andrey Klepach, one of Russia’s most prominent economists, has been removed from his post as chief economist at the country’s national development bank. His dismissal comes days after a speech he gave became public, in which he reportedly said the war in Ukraine is damaging Russia’s economy. Russia’s state news agency TASS confirmed on Sunday that Klepach “no longer holds the position” at the bank. The agency did not provide a reason for the change. Klepach had served as the bank’s chief economist and was known for his cautious public assessments of Russia’s economic outlook. In the speech, he warned of rising costs and strain caused by the ongoing conflict—remarks that contradicted official narratives of economic stability. His removal marks one of the most visible career consequences for a senior Russian official publicly acknowledging the war’s financial toll. The development comes as Western sanctions continue to pressure Russia’s financial system. The bank has not yet named a successor.