Kremlin economist warns Putin of looming social crisis as war drags on

At a recent forum in Moscow, Andrei Klepach, the chief economist of the state-run Vnesheconombank, warned that Russia is slipping behind in the global technological and economic race, losing not only to China and the United States but also to Ukraine. He argued that the ongoing war’s attrition is eroding Russia’s economy, with Ukrainian drone attacks on ports, oil and gas facilities, chemical plants and logistics raising costs and stalling growth.

Klepach likened the situation to the 1991 Soviet collapse and the 1917 February Revolution, suggesting a social crisis could emerge unexpectedly. His remarks arrived while President Vladimir Putin embarked on a renewed charm offensive to shore up domestic backing for the “special military operation,” despite repeated setbacks and fuel shortages at home. Kremlin insiders, including former presidential speechwriter Abbas Galyamov, noted that Putin has previously paid close attention to Klepach’s counsel, urging him to heed the warning now. The economist’s statements have largely disappeared from Russian search results, indicating possible censorship.