Why hasn't the Russian economy collapsed?

Russia’s economy remains resilient despite a $320 billion debt and extensive Western sanctions due to its role as a critical global supplier of oil, gas, and fertilizers. Strategic maneuvers, such as shifting trade to China and seizing $170 billion in foreign assets to create a loyal business class, have buffered the regime against international pressure. Economists Alina Rybakova and Timothy Ash note that weak enforcement of secondary sanctions has allowed Russia to bypass restrictions effectively. Domestically, Vladimir Putin has implemented "smertonomika" or death economics, a system of massive cash payouts for military service and death benefits that exceed a worker's lifetime earnings. This "macabre Keynesianism" targets impoverished regions, stimulating local economies while suppressing social unrest by making military participation financially attractive. However, this stability relies on continuous war spending, leaving the nation vulnerable to a future labor shortage and a potential economic collapse once military expenditures cease.