As of: March 27, 2024, 4:47 a.m
By: Bona Hyun
Comments
Press
Split
In its search for sources of money for Russia's economy, the Russian elite could find itself in Putin's sights.
His measures primarily serve one goal.
Moscow – Russia's economy is groaning under Vladimir Putin's economic leadership and Western sanctions.
Since international donors are gradually turning away from him, the president is looking for additional sources of income.
He wants to use this to finance high military spending - and prepare for a possible conflict with NATO.
Putin is apparently squeezing Russian billionaires – because Russia's economy is running out of money
According to an analysis by the Institute for the Study of War (ISW) think tank, Putin could target the so-called siloviki for financial aid.
Siloviki are Russian representatives of the military and secret services who gained economic or political power in the era of Putin or Boris Yeltsin.
According to ISW analysts, Putin has signaled that measures for long-term financial stability in Russia could affect the elite group.
Putin could “inflict some pain” on some wealthy siloviki.
Vladimir Putin is apparently targeting the Siloviki in order to advance preparations for a conflict with NATO.
© NATALIA KOLESNIKOVA / AFP
According to The Conversation,
the siloviki include
former KGB and now FSB intelligence officers.
The informal leader of the Siloviki is said to be Igor Sechin.
He is the chairman of oil giant Rosneft and is considered the second most powerful person in Russia.
Some members of the Russian business elite were critical of the Ukraine war and feared its impact on the Russian economy and society.
But as
The Guardian
reports, many have now come to terms with the war.
Putin wants to stimulate the economy - Russian billionaires in the president's sights?
According to the ISW, Putin's attempts to stabilize the Russian economy and financing indicate that Putin is preparing for a possible "future large-scale conflict with NATO" and a long war in Ukraine.
Putin could also jeopardize his previously close relationship with the Russian elite in general for his preparations.
Putin has already criticized the elite group in Russia.
In his speech to the Federal Assembly on February 29, he appeared to distance himself from the group and sympathize with military veterans.
Those who “filled their pockets due to the economic processes in the 1990s” are not the elite, the ISW quoted Putin as saying.
The “real elite” are workers and military men who have proven their loyalty to Russia.
My news
Baby happiness after the end of his career: Olympic ski champion becomes a father for the first time a few days after retirement
Sweater, park bench, daffodils: The hidden messages in Princess Kate's video reading
Bankruptcy of German industry giant: next traditional company goes bankrupt
Seriously injured ski jumping ace with devastating bedside diagnosis
After attack in Moscow: Putin ally Lukashenko accidentally torpedoes Ukraine claim read
“That’s disrespectful”: Civil servants earn as little as citizens’ benefit recipients – and the traffic lights are watching
Putin has recently been sending threatening gestures towards the West and NATO
Recently, Putin has also increasingly threatened the West and NATO.
If there is a direct conflict between Russia and NATO, the world will be “only one step away” from a third world war, Putin declared in Moscow about his “victory” in the presidential election, which is actually not a presidential election.
“I believe that anything is possible in today’s world,” the Kremlin chief replied when asked about the likelihood of a direct conflict between Russia and NATO,
Ukrainska Pravda reported.
But so far it seems unrealistic that Putin will carry out his threats.
Because as things currently stand, Russia would be inferior to the West in many respects.
Putin's war chest is shrinking as allies turn their backs on him and important sources of income are lost to him.
In addition, Western sanctions are taking a toll on the Russian economy, which can be seen in the stubborn inflation and the shortage of skilled workers.
Despite the economic situation, Putin probably wants to continue his “war economy” this year – the people in Russia will have to bear the consequences.
(bohy)