Russia's military is so hard up for manpower that it now pays more than the oil and gas sector

Tue, 05/07/2024 - 04:04

Russian President Vladimir Putin toasting Russian soldiers with a glass of champagne. — Russian President Vladimir Putin toasts with Russian soldiers after awarding them with the Gold Star medal on the eve of the "Heroes of the Fatherland Day" at the Kremlin in Moscow on December 8, 2022.
Mikhail Metzel/Getty Images

Russia has a manpower crunch because of its war with Ukraine.
Russia's military is paying more in sign-on bonuses and salaries than the oil and gas sector.
Russia's oil and gas revenues have been keeping its war chest filled.

Russia is facing a labor crisis as its war with Ukraine siphons manpower away from the country's economy.

The manpower crunch has gotten so bad that the Russian military is now offering sign-on bonuses and salaries that are so competitive that even the country's lucrative oil and gas industry isn't keeping up, Bloomberg reported on Monday.