Vladimir Putin has to deal with surprising criticism of the Ukraine war. © GAVRIIL GRIGOROV/afp
Andrei Nechayev predicts an imminent financial crisis in Russia. Spending on the Ukraine war would have to be reduced.
Moscow - Criticism of the Kremlin in the Ukraine war can be heard primarily from Russian military bloggers. Former intelligence officer Igor Girkin, in particular, has been venting his displeasure with the conduct of the war since Russian troops invaded Ukraine. But critical voices can now also be found elsewhere in Russia.
In any case, former Economy Minister Andrei Nechayev did not hide his opinion during a panel discussion at a financial forum in Yekaterinburg. "It's not bad that we're screwed," the 70-year-old said bluntly. "But it's bad that we've made ourselves at home in it."
Andrei Nechayev predicts a financial crisis in Russia. © Mikhail Metzel/Imago
Western sanctions are causing problems for the Russian economy
With these words, Nechayev explicitly referred to the Kremlin leadership, which is doing nothing to change the difficult economic situation in the country. The blame for the misery is the Western sanctions imposed because of the Ukraine war, which would plunge Russia into a financial crisis next year. There are still enough reserves, but they will soon be used up. The recommendation he made was clear: Russia must reduce spending on the war, otherwise the country will have to rely on foreign loans in the coming year.
The 70-year-old cited the budget deficit, mass emigration, capital outflows abroad and the decline in oil and gas revenues as other reasons for the crisis. As reported by the British newspaper The Times, he added that Western franchises such as "McDonald's could be replaced by Russian pancakes (blini), but high-tech products could not."
The frank words are surprising. Under the draconian rules introduced by Vladimir Putin, those who criticize Russia's so-called "special military operation" in Ukraine face arrest and imprisonment.
So far, Russia has resisted the sanctions – with the help of China
Since Russia's attack on Ukraine, the West has imposed unprecedented sanctions, including far-reaching trade restrictions. Ahead of the G7 summit in Japan, the US and Britain announced new punitive measures. The US official said that all G7 countries were preparing new sanctions and export controls. In addition, the meeting of the leading democratic industrialized nations is also about closing loopholes in existing sanctions. The aim is to increase economic pressure on Russia and make it even more difficult to maintain its war machine.
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So far, the resilience of the Russian economy in the face of numerous sanctions has surprised many specialists. The country's gross domestic product has been affected only slightly, food is still on the shelves and unemployment is at its lowest level in 30 years.
Agreements with countries such as China have so far helped Russia fill the gaps torn by Western sanctions. However, Nechayev's statement seems to confirm the skeptical voices that assume that Moscow is obscuring the figures and data in order not to admit that the market in Russia is heading for a collapse. (cs)
