Putin Moves to Militarize Russian Society, ISW Says
The Kremlin is raising taxes, seizing assets and tapping pension savings as military spending climbs and borrowing options narrow.
- In June, the Russian Finance Ministry announced support for draft legislation to transfer nearly $40 billion in private pension savings into a state-managed fund to cover war-driven fiscal shortfalls.
- The Finance Ministry canceled three of four bond auctions in June and July due to lack of buyer interest, forcing an indefinite suspension as the Kremlin sought alternative funding sources.
- Prosecutors filed claims to seize assets worth roughly $60 billion between early 2022 and late 2025, while state extraction from firms like Gazprom left little remaining to tap.
- Moscow's orders to shoulder more social expenses left 73 out of 89 regions with budget deficits in 2025, up from 49 in 2024, straining local capacity to fund military bonuses.
- While publicly claiming to protect the social contract, the government has penciled in a 27.9 percent rise in utility rates for 2026-28, shifting war costs onto household balance sheets.
28 Articles
28 Articles
Central Bank and Finance Ministry Warn Putin of War’s Impact on Economy
Executive Summary: Senior Russian officials, including Ministry of Finance and Central Bank of the Russian Federation representatives, warned Russian President Vladimir Putin in early June that continued war spending is straining the economy. Defense spending is projected to consume about a third of the entire 2026 budget, making fiscal balance increasingly difficult. Russia’s Ministry of Economic Development cut its 2026 GDP growth forecast f…
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Putin binds Duma and the population closer to the war and wants to keep mobilized in the army.
Putin has ordered preparation of Russian Federation’s budget for coming years of war: Kremlin has already spent more than $746 billion, - Russian media
Russian dictator Vladimir Putin has ordered that priority funding for the defence sector be included in Russia’s federal budget for 2027–2029. Despite record military spending, the Russian Federation’s budget deficit continues to grow, and the authorities are being forced to cut civilian...
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