Is This Model’s Missing Arm a Victim of Retouching or Camera Angle?

The August cover of Russian Vogue, has photographers debating what happened to the cover model’s limb

missing arm
missing arm
© Vogue Russia

The victims of grotesque Photoshop hack jobs are well documented. So when the August issue of Russian Vogue came out with a mysterious missing arm the knee-jerk reaction of many might be to cry Photoshop of Horror. But on closer inspection, it maybe a play of camera angle and cropping.

After a little trial and error here in the office, it seems more than feasible that the elbow could be blocked by the model's head. It's also possible that it could be sticking up in the area that has been cropped out. What do you think? Heavy handed Photoshop, or unfortunate camera angle?