Does Russia have higher inflation than US and Canada? If so, why in this particular case does money supply increase doesn't lead to higher prices?
The annual inflation was 5.8% in March 2021 in Russia. There are many reasons for this inflationary pressure such as the weakening of the ruble (Russian Currency) in comparison to the United States dollar. There is another reason for high inflation due to high government spending at the end of 2020 and at the beginning of the year 2021. In comparison to Russia, the inflation rate in the US is 4.16 % as of May 12, 2021. In Canada, the inflation rate is 2.2% in March 2021. Therefore, Russia has more inflation compared to the United States and Canada.
Moreover, your assumptions about deficit financing are reasonable and correct.