While Putin scores some personal triumphs, the country’s economy is chronically ill and is unlikely to get the treatment it needs

Russia’s Narrowing Economic Horizon

by Dmitri Travin

2014 dawned as a year of triumph for Russian President Vladimir Putin. Forbesmagazine named him the most powerful person in the world, 

and he did indeed have some considerable successes in 2013.

• First, he emerged victorious from the tussle with the EU over Ukraine. 
• Second, he managed to propose a sensible way forward for dealing with the situation in Syria, so for the first time in decades leading foreign politicians were actually listening to the Kremlin. 
• Third, next month will see Sochi hosting the Winter Olympics, which means that for more than two weeks the attention of the world will be focused on Russia. 

Many people consider Russia’s selection as host country for the Olympics a personal Putin coup and by the end of February his popularity ratings will almost certainly have improved.

But in fact Putin is facing a very testing time: the Russian economy is in such a bad state that the difficulties of the 2008-2009 crisis and the 2011-2012 protests will pale into insignificance by comparison.


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