In this interview we test the claim that skeptics are “deluding themselves” and present the data that Moscow cannot erase. A 17 percent key rate paired with inflation above 8 percent points to a system in distress. Deficits are rising, debt service is consuming more of the budget, and the National Welfare Fund is being drained to keep the illusion alive. Professor Yuriy Gorodnichenko, a Ukrainian-born economist and faculty member at the University of California, Berkeley, speaking with Kyiv Post’s Jason Smart provides this critical assessment of Russia’s economy. His insights on Russia’s economy combine rigorous data analysis with deep knowledge of post-Soviet systems, making his warnings especially significant.