As Russians struggle due to financial crisis, President Putin wears jacket that costs as much as a SUV

MOSCOW: As Russia is going through an unprecedented economic crisis, its citizens are struggling to make ends meet. At the same time, Russian President Vladimir Putin seems to have a flamboyant lifestyle. He recently wore a Rs 10 lakh Loro Piana jacket at a pro-war rally in Russia. The price of this jacket is 13181 US dollars. It will cost around Rs 10 lakh.

The jacket Putin wore at the rally was 25 times more expensive than what an average Russian citizen earns in a month. Most designer shops in Russia are closed due to sanctions imposed on the nation by various countries and companies following the Ukraine invasion. Yet it is still unclear where Putin got his new jacket from.

As of March 11, Russia's annual inflation was 12.54 percent. Russian economists are debating how to overcome the crisis.