Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

New Sanctions Risk Wrecking Putin’s 6-Year Plan, Kudrin Warns

Alexei Kudrin / Kremlin.ru

New rounds of Western economic sanctions will make it next to impossible for President Vladimir Putin to achieve his ambitious domestic policy goals, Russia’s chief auditor has said.

Putin outlined plans to spend 8 trillion rubles ($120 billion) on infrastructure, technology, investment and social issues during his 2018-2024 presidency. A decree he signed after his inauguration in May set the goals of turning Russia into a top-5 world economy, halving poverty and increasing natural population growth.

Former Finance Minister and current head of Russia’s Audit Chamber, Alexei Kudrin, warned that the president’s targets could be derailed under new sanctions, including those proposed by U.S. lawmakers.

“We must clearly understand: If sanctions are ramped up, the goals that the president has set will become practically unattainable on many of the indicators,” he was quoted as saying Wednesday.

Kudrin called on “the reduction of tensions” in Russia’s foreign policy “to at least keep or lower the sanctions regime,” Interfax reported.

“That’s the metric I’d use to measure the effectiveness of our foreign policy.”

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more