(MOSCOW) – Prominent Russian state media figures and military bloggers have begun to openly criticise the Russian government’s handling of a domestic economic crisis, marking a significant shift in the information space of the Russian Federation. High-profile propagandists, including Vladimir Solovyov, are now publicising data that highlights the deteriorating state of national business and finance. Observers suggest this rare public dissent from within the loyalist camp indicates a potential loss of central control by the Russian dictator, Vladimir Putin.
The criticism focuses on the impact of high interest rates which analysts predict could lead to a systemic collapse of the Russian banking sector by 2026. Reports indicate that thousands of businesses, including retail outlets and restaurants in Moscow, have been forced to close. The construction and metallurgy sectors are also experiencing severe stagnation, with a massive surplus of unsold residential property in major urban centres.
The Russian federal budget faces further pressure as oil prices remain significantly below government targets. The Central Bank of Russia had projected a sale price of approximately 5,500 Russian Roubles ($59) per barrel, but current market rates for Russian crude have dropped to between 2,500 and 3,600 Roubles ($27 to $39) per barrel due to heavy discounting for the Indian market. In response, the Kremlin has intensified its search for domestic revenue, including increasing Value Added Tax (VAT) and implementing special fees on the metal industry. In 2025, the Russian government reportedly confiscated approximately 1.4 trillion Roubles ($15 billion) in assets from large enterprises.
There is growing speculation regarding the potential for nationalisation of major companies and the introduction of general conscription to sustain the war effort. Experts suggest such measures could alienate the oligarch class that has historically supported the regime of the Russian dictator. Meanwhile, the Kremlin has restricted access to communication platforms such as Telegram and WhatsApp to prevent the organisation of anti-government protests as the economic situation worsens.
