俄罗斯经济痛点加剧，克里姆林宫巩固权力

By Editorial Dept - Oct 02, 2026, 9:45 AM CDT

Russia came out of its parliamentary election with Putin stronger on paper and the country considerably harder to read. United Russia now controls 349 of the State Duma’s 450 seats, its largest majority ever, and some 50 Ukraine war veterans are entering parliament. There is the anticipated analysis of documented election manipulation, and indeed, the Kremlin was under pressure to think outside the box amid public war fatigue. But Putin is not losing control, and Moscow is not desperate. The election showed how impossible it has become to challenge the Kremlin through the Russian political system. But economically, it’s a different story. 

Moscow expects growth of only around 0.6% this year; capital investment is falling, and interest rates remain at 14%. The federal deficit reached 5.8 trillion rubles through August, and oil and gas revenues were down 16.7%. More than half of senior Russian business executives surveyed by RBC expect conditions to deteriorate through year-end.

The war against Ukraine may be the coffer that breaks the Kremlin’s back, but not just yet. Unemployment remains extremely low, real wages are rising, and high oil prices could add as much as 1 trillion rubles to the liquid portion of the National Wealth Fund this year. Moscow has the money to keep fighting, in other words, and its new budget makes clear that it intends to. Military spending rises 27% next year to 17.1 trillion rubles, paid for with higher taxes, more borrowing and cuts elsewhere.

And…

COMMUNITY MEMBERSHIP

(FREE)

GLOBAL ENERGY ALERT

($697 $279 PER YEAR)

• Breaking energy stories before they hit the mainstream media
• Top quality analysis from industry veterans
• Exclusive investment opportunities
• Digestible data breakdowns
• Geopolitical insights from our network of over 600 operatives
• Risk-free 30-day money back guarantee