Eurasia Outlook asked its experts to reflect on the dramatic events of 2014 and to share their predictions for Russia's future and for its role on the global stage going forward.
Eurasia Outlook asked several experts what, if anything, can be done by Russian policymakers in order to weather the perfect storm descending on the country’s economy.
The falling oil price and rapid devaluation of Russian currency not only affect the economy, the budget, and the joking habits of the elite, but also have an effect on Moscow’s foreign policy.
In reduced economic circumstances the big test for Russia is whether it will be forced to retrench, or whether Vladimir Putin will take his chances on expansionist foreign policy at a moment when there’s less money to go around to combat legitimate threats.
The financial troubles of the ruble represent the most striking and dangerous strategic challenge facing the Russian state since the conflict in Ukraine began.
Facing Western sanctions, some Russian pundits are rushing to find an easy way out through increased cooperation with Asia. However, nothing can replace the West for Russia.
The Kremlin now sees the U.S. goal as the toppling of the Putin regime. That said, expecting Putin to back off betrays a lack of understanding of the gravity of the situation. It is no longer just a struggle for Ukraine, but a battle for Russia.
There are few if any reasons for Russia to worry about an immediate negative impact on trade and economic interests of signing of the AA/DCFTA by Ukraine, Moldova, and Georgia. The Russian government’s position is more likely to reflect concerns about the loss of geopolitical influence rather than trade and economic relations.
The initiatives outlined by Putin in his speech at the St. Petersburg International Economic Forum may lay the groundwork for radical changes in economic policy.
