Russian economy: Putin is starting to show fear too

On Friday, the Kremlin leader stated that Russia must, “under no circumstances”, fall into recession, as the country’s economy experiences an unprecedented slowdown.

At the St Petersburg International Economic Forum, Vladimir Putin said: “Some specialists and experts are pointing to risks of stagnation and even recession. We must not allow this under any circumstances.”

On the brink of chaos

On Thursday, Russia’s Minister of the Economy, Maxim Reshetnikov, warned that Russia was “on the brink” of recession and that decisive measures were needed to avoid economic chaos.

Indeed, despite relatively good results in 2023 and 2024 in the context of the war in Ukraine, Russia is facing a much harsher 2025, marked by tough Western sanctions, soaring inflation and extremely high interest rates.

(MH with Manon Pierre – Source: 20 Minutes – Illustration: ©Unsplash)