Putin can fund Ukraine war for years to come, ex-official says as Trump's resolve is tested

Russian President Vladimir Putin has capable superior to money the warfare successful Ukraine for years to travel contempt economical unit mounting, the erstwhile caput of the country's cardinal slope told CNBC connected Friday.

"The Russian system is adjacent to stagnation," Sergey Aleksashenko, erstwhile lawman president of Russia's cardinal bank, told CNBC's "Europe Early Edition."

Aleksashenko said connected Friday the "mood is not good," with the Bank of Russia forecasting maturation of conscionable 0.9% for the country's system this year, compared with 4.3% past year.

But helium added that the "glass is fractional full," with the cardinal slope gradually bringing ostentation down and assorted industries moving successful other directions.

Asked whether Putin has capable wealth to concern the warfare successful Ukraine, Aleksashenko said: "Unfortunately, yes."

"Despite each rumors, contempt the increasing fund deficit, contempt the increasing borrowings by the Minister of Finance, helium has capable wealth to concern the war," helium told CNBC.

"I americium rather definite that helium is capable to concern the warfare different two, 3 years, astatine least. Maybe more," helium added.

Russia's full-scale penetration of Ukraine began successful aboriginal 2022, with troops present successful their 4th wintertime of conflict.

Aleksashenko's comments came aft NATO main Mark Rutte issued a stark informing to allies that they were astatine superior hazard of onslaught by Moscow.   

"We are Russia's adjacent target, and we are already successful harm's way," helium said successful a code successful Germany connected Thursday. "NATO's ain defenses tin clasp for now, but with its system dedicated to war, Russia could beryllium acceptable to usage subject unit against NATO wrong 5 years."

Despite planetary efforts to bring the warfare to an end, Putin has signaled helium is consenting to support waging the warfare to execute Russia's aims. Last week, helium warned that Russia would take a cardinal Ukrainian territory "by force" if Kyiv's troops did not retreat willingly.

In a bid to ramp up the economical unit connected the Kremlin, European officials person announced proposals to usage frozen Russian assets to enactment Ukraine's reconstruction — a determination that Russian officials person called tantamount to justification for war.

On Friday, Russia's cardinal slope announced it was suing Belgian clearing location Euroclear successful a Moscow tribunal "for betterment of losses caused to the Bank of Russia."

"The actions of the Euroclear depository caused harm to the Bank of Russia owed to the inability to negociate currency and securities," it said successful a statement, according to a Google translation. It said the suit was besides "in transportation with the mechanisms of nonstop oregon indirect usage of the Bank of Russia's assets without the consent of the Bank of Russia, which are officially being considered by the European Commission."

Euroclear declined to comment, and the Belgian authorities had not responded to a petition for remark erstwhile this nonfiction went live.

Ukraine and its European allies are besides scrambling to support U.S. President Donald Trump – whose medication wants a bid woody with some Moscow and Kyiv – onside.

While Russia has publicly touted its "alignment" with Washington, Trump has been hitting retired astatine European leaders.

On Wednesday, he said helium didn't privation to beryllium "wasting time" discussing the bid program with his European counterparts, according to NBC News, adding that helium had already exchanged "pretty beardown words" with officials successful the region.

"Sometimes you person to fto radical combat it out, and sometimes you don't," helium said.

Earlier this week, helium claimed Ukrainian President Volodymyr Zelenskyy hadn't work the U.S.′ draught bid connection to extremity the war, portion Russia was "fine with it."

The proposal, initially drafted by the U.S. and Russia without input from Ukraine, has been altered from its original 28-point version that reportedly included Ukraine giving up onshore successful its eastbound Donbas portion and slashing the size of its military. However, concessions of Ukrainian onshore and information guarantees for Kyiv remain sticking points successful the bid plan, which Ukraine is reportedly nether pressure from the U.S. to hold to earlier Christmas.

The White House said Thursday that the U.S. remained engaged successful the bid process. But Press Secretary Karoline Leavitt told reporters that Trump was "extremely frustrated with some sides of this war" and "sick of meetings conscionable for the involvement of meeting."

Trump spoke with the leaders of the U.K., Germany, and France successful a telephone connected Wednesday, and Leavitt said the president was "aware" of a caller connection sent by Ukraine's Zelenskyy.

"He doesn't privation immoderate much talk, helium wants action. He wants this warfare to travel to an end," Leavitt said of Trump during the property briefing. "The medication has spent much than 30 hours, conscionable successful the past mates of weeks, gathering with the Russians and the Ukrainians and the Europeans."

"If we consciousness similar those meetings are worthy of idiosyncratic connected the United States's clip this weekend, past we volition nonstop a representative," she added.

— CNBC's Holly Ellyatt and Silvia Amaro contributed to this article.