Russia's finances are 'in the shit,' says a former Russian economy minister.Mikhail Klimentyev/Sputnik/AFP A former Russian economy minister warned of a looming financial crisis in Russia, per local outlet The Insider. "It's not that we're in the shit, it's that we've decided to settle down in it," Andrei Nechayev, a former economy minister said. Russia's energy revenues have slumped 50% in the first quarter of 2023. A former Russian economy minister has blasted the country's sanctions-hit economy and warned of a looming financial crisis.