President Vladimir Putin will continue to rule behind the scenes after installing the current Central Bank chairwoman as his proxy, the Bloomberg news agency predicted in its annual worst-case scenario guide on Monday.
Putin, who announced plans to seek a fourth term this month, is widely expected to win the 2018 presidential elections, which would extend his rule into 2024.
Bloomberg’s “Pessimist’s Guide to 2018” forecasts that Putin will appoint Russian Central Bank Head Elvira Nabiullina as his successor after he retires in 2024.
The scenario envisions plummeting demand for oil, Russia’s main export, spurred by a global electric car revolution.
“The biggest turmoil is felt in Moscow and Riyadh as budgets are obliterated by lower oil prices,” Bloomberg forecasts for 2021. “Riots break out outside Russian factories."
By 2028, according to the outlook, Russia faces an existential crisis as Putin disappears from the scene.
“In Russia, no one has seen Putin in years and Nabiullina scrambles to prevent the breakup of the country."
Earlier this year, the Bloomberg Businessweek magazine suggested that Nabiullina could be named Prime Minister after the March 2018 elections.