World Trade· August 17, 2026 at 10:29 a.m.
Russian Bank Chief Economist Fired After Criticizing Wartime Economy
Key takeaways
- Andrei Klepach served as chief economist at VEB since 2014
- Klepach was fired following critical remarks about the economy
- He warned Russia was falling behind China, US, and Ukraine
Andrei Klepach, the chief economist at Russia's second-largest state-controlled bank VEB, has been dismissed following a series of critical remarks about the country's economy. In a speech delivered to fellow economists in May, Klepach warned that Russia was falling behind China, the US, and even 'in some respects Ukraine' in economic terms. The dismissal came days after Russian media reported on his scathing comments.
