The latest Stratfor Intelligence Report analyzes the rapidly deteriorating fiscal and economic conditions of the 83 Russian regions. Part of the problem is the Kremlin’s ever more confiscatory policy vis a vis the regions. Only 37% of the income generated by the regions stays in the regions, while Moscow subsidies returns no more then 20% of the rest. Regional taxes have gone up 12%, as federal aid to the regions has collapsed from $56 billion in 2012 to $28 bln in 2014 and is down another 15% in 2015. As a result, 63 of the regions are near default and 20 have already defaulted technically.