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The Wall Street Journal

The Wall Street Journal

Investing and finance 6,720,000 subscribers

How Putin’s War Pay Is Creating New Wealth in Russia | WSJ

01.09.2026
Published: 01.09.2026 Category: Investing and finance

Episode details

Episode description

Russian soldiers receive millions of rubles when signing contracts for the war. This injection of cash is transforming the social fabric of remote Russian cities, such as Ulan-Ude, in Russia’s Buryatia region. New apartments and cars purchased with war money come with a hefty price tag: as modern real estate is being built, graves are piling up, and a generation of men is disappearing. WSJ spent months interviewing current and former residents of Ulan-Ude, and analyzing social media footage, to offer a rare look at how war money is transforming the remote Russian city. Chapters: 0:00 Russia’s war boomtowns 1:48 Mobilization in Ulan-Ude 5:02 Where the money goes 5:54 The recruitment strategy 8:23 The societal costs WSJ Originals features in-depth reporting, investigations and on-the-ground journalism that uncovers the forces shaping business, politics and the world around us. #Russia #Ukraine #WSJ

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