What would Russia do if it could no longer afford both its Baltic and Black Sea fleets?
Short answerIt would fight to retain the Black Sea Fleet, while the Baltic Fleet might have to become either much stronger or smaller and faster.
NotesRussia was unlikely to allow its Black Sea Fleet to disappear because that force serves interests Moscow would regard as essential. The Baltic presents a different challenge. Finland and Sweden moving toward NATO would sharply worsen the fleet's operating environment. The remaining options were to concentrate enough power to contest the sea or rely on smaller, faster units with a better chance of surviving within a constrained theater.