'People are losing everything': Ukraine's drones could crash Russian banks

Ukraine's drones have been targeting Wildberries, Russia's largest online retailer, for the past four weeks, causing significant damage and disruption. The Ukrainian government accuses Wildberries of aiding President Putin's military and claims the attacks are part of a long-range sanctions campaign to cripple Russia's economy. Wildberries, which contributes about 2% of Russia's GDP, is a prime target due to its extensive operations and heavy reliance on debt.

Many Russian and Ukrainian media outlets report that Wildberries took out substantial loans with VTB Bank and Sberbank, both heavily influenced by the Kremlin. If Wildberries were to fail, it could trigger a financial chain reaction, affecting Russia's banking system and ultimately the Russian government. The company's founder, Tatyana Kim, described the attacks as a "terrorist attack," while Ukraine's drone commander claimed ordinary Russians are addicted to the convenience provided by Wildberries.

Analysts warn that the attacks could lead to severe defiscalisation and exacerbate Russia's economic crisis, which is already struggling due to Western sanctions and the prolonged war.