If Putin wins in Ukraine, the British economy will be in the firing line | Phillip Inman

We and the EU must show the Russian leader we mean business and seize $300bn of his country's central bank funds

Vladimir Putin is digging deep to win the war with Ukraine. And it could be only months before the tide turns in his favour. If he pummels Ukraine into submission, a military victory will quickly become a wider economic disaster, which is why we underestimate at our peril how much we need to focus on the war.

The Russian leader, who was inaugurated for a fifth term as president a fortnight ago, ditched his old friend and defence minister Sergei Shoigu on Monday in favour of an economist to make sure Moscow's war machine runs more efficiently. That economist, Andrei Belousov, has been likened to Albert Speer, the architect who served as the minister of armaments and war production in Nazi Germany.