This week, it was reported that Russian oil and gas revenues, vital for the economy, fell by a fifth in 2025.

It has also been well documented that industries such as housing developers and the coal industry have been among the hardest hit as interest rates soar.

Another industry feeling the pinch is the construction sector. Russian newspaper Izvestia reported last year that three major firms were headed for bankruptcy, with combined debts of nearly £900,000.

SC Donstroy in the city of Rostov-on-Don collapsed into bankruptcy after accumulating a debt of 11 million rubles (£105,000).

Meanwhile, construction company LLC "STEK" was declared bankrupt last year with debts of 39 million rubles (£373,000).

Stroyproekt Group, was reported to be on the verge of bankruptcy with, while Regionstroy met this fate with debts of around 43 million rubles (£402,000).

This week, Ukraine's foreign intelligence service said the Russian economy is stuck between recession and rising prices.

They added: “Strict monetary policies by Russia’s central bank have effectively stifled business activity and intensified stagnation, which has now taken on a systemic character.

“Additional pressure comes from the budgetary side. The state has reduced incentives through tax changes, and in 2025, maintaining high expenditures amid falling revenues has led to a growing deficit."