In this episode of The PDB Afternoon Bulletin: 

• First—Behind the Kremlin’s battlefield posture, Russia’s economic foundation is quietly deteriorating. New data shows Moscow’s budget deficit on pace to nearly triple this year, as oil and gas revenues — the lifeblood of the Russian state — plunge to their lowest levels of the Putin era.

• Later in the show—A top Russian military intelligence officer was shot and seriously wounded in Moscow on Friday, marking the latest attack on Russia’s top brass inside the capital. I’ll break down what happened, who Moscow is blaming, and how this could impact peace efforts.

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