Russia's economy is an 'illusion' built on debt, and a banking crisis is ready to explode, intel report says, while the Kremlin may seize pensions

A European intelligence report seen by Reuters warns Russia's economy is an illusion built on debt, with a banking crisis imminent. 10% of corporate loans may default, and 15% of retail loans at top banks are non-performing. The Kremlin may seize $40 billion in pension savings to fund the Ukraine war.