As Ukraine’s economy burns, Russia clings to a semblance of prosperity

Kyiv could require $500bn to get the country back on its feet. But Moscow has so little debt that even sanctions have not done much damage ... yet

Factories destroyed. Roads blown to pieces. Power plants put out of action. Steel exports decimated. A flood of refugees out of the country. Ukraine - the poorest country in Europe - has paid a heavy economic price for a two-year war against Russia waged almost entirely on its own soil.

The figures are stark. More than 7 million people - about a fifth of the population - have been plunged into poverty. Fifteen years of human development have been lost. In the first year of the war, the economy contracted by 30%.