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OSW Commentary |
| Iwona Wiśniewska
On 28 November, Vladimir Putin signed the Russian Federation’s 2026 budget law and approved the overall parameters of the budgets for 2027–28, after the document had passed swiftly through parliament. In drafting next year’s budget, the…
OSW Commentary |
| Iwona Wiśniewska
Low export prices for crude oil and the slowdown in economic activity that has persisted since mid-2024 have severely constrained the Kremlin’s financial capacity and forced the government to undertake a major revision of its economic…
OSW Commentary |
| Iwona Wiśniewska
Putins elite divides the spoils in Russia large-scale nationalisation and re-privatisation of assets
The war against Ukraine and sweeping Western sanctions have triggered another major wave of asset redistribution in Russia – one of the largest since the collapse of the Soviet Union. The actual scale of this process is difficult to…
OSW Commentary |
| Iwona Wiśniewska, Filip Rudnik
Since the beginning of 2025, Russian oil exporters have faced difficulties that are negatively impacting the state’s oil and gas revenues. Sanctions, combined with a strong rouble and falling global oil prices, are increasingly…
OSW Commentary |
| Iwona Wiśniewska
The sharp increase in wartime budget spending in 2024 has helped to sustain Russia’s high economic growth rates, particularly double-digit growth in manufacturing industries serving the military. However, the number of economic challenges…