Oligarchs Fire Up Over Putin’s “Bankruptcy Road”
It’s a full‑blown financial ruffle in Moscow’s elite circles. The Russian super‑rich are sounding the alarm louder than a red flag at a rally, blaming President Vladimir Putin for a route that looks more like a crash course in bankruptcy than a smooth business plan.
Why the Elite is Fuming
- • More than 40,000 sanctions have turned Russia into a very expensive country—good for investors, bad for anyone trying to buy a loaf of bread.
- • Inflation is soaring like a hot air balloon that can’t find a flat ride, pushing prices of everyday staples—think butter and potatoes—into the stratosphere.
- • Interest rates are climbing faster than a sushi roll, meaning borrowing money is now the world’s most expensive hobby.
- • Central Bank’s next move is to hike rates even higher, a move that’s said to be “a serious challenge to the economy and industry,” according to billionaire Alexei Mordashov.
Elite Voices: Labeled “Bankruptcy Paths”
Gal V. Sergey Chemezov, a proud Putin sidekick and heavy‑handed businessman, told Interfax:
“Taking out a loan at a crazy interest rate is suicide for a business. It’s a path to bankruptcy.”
He added a touch of existential dread: “Is this the right medicine? I hope the cure isn’t worse than the disease.”
The Central Bank’s Role in the Drama
Elvira Nabiullina, the central bank’s governor, has become the unwitting scapegoat. A former RBI official confessed to WSJ that the power elite’s frustration is brewing like a storm, and Nabiullina is the “convenient target” for the collective venting.
Consumer Price Index Takes a Sharp Turn
- • November CPI jumped to 8.9% from 8.5% the month before—an upward trend that’s keeping the average Russian out of the “budget travel” section of grocery stores.
- • Food prices are flipping out, as our beloved lettuce dreams now cost more than a radio moped.
Bottom Line
Russia’s bright‑wired business class is in a state of mild anarchy, with a strong desire to keep lifting their spirits (and their wallets) while staying loyal to the Kremlin. The question remains: will Putin’s “path to bankruptcy” finally lead to a billionaire’s downfall, or is it just another unseasoned plot twist in the drama of Russian economics?
