How Long Can Russia’s Weakening Economy Support Putin’s War on Ukraine?

In 2025 signs of weakness in the Russian economy are increasingly visible: high inflation, growing financial stresses, gasoline and food shortages, rapidly slowing oil revenues, shortages of key manufacturing parts, failed auctions of sovereign bonds, and depletion of its sovereign wealth fund. Many analysts predict the Kremlin’s ability to maintain its war economy will be severely stressed in the coming months, especially as Ukrainian strikes reach more Russian infrastructure and degrade the petroleum industry that pays for the war. Join noted economists Anders Aslund and Volodymyr Lugovskyy and Hudson Senior Fellow Thomas Duesterberg for an event that will analyze how growing economic problems are affecting Vladimir Putin’s war effort and his ability to avoid an economic crisis.

Refining capacity is the greatest vulnerability in the United States’ critical minerals supply chain. After a decades-long campaign to price out competitors, China now dominates the refining sectors for many minerals and metals that are central to the global economy and to the US defense sector. In some sectors, Chinese firms account for as much as 90 percent of global capacity. This dominance is central to Beijing’s quest to recenter the international system away from the US and toward China. Washington needs to engage in a strategic and sustained effort to escape this predicament—and African nations will play a critical role. Hudson Senior Fellow Joshua Meservey will host senior representatives from Rainbow Rare Earths, ReElement, and US Strategic Metals—firms on the frontier of the critical minerals industry—to discuss what this effort will entail. The discussion will cover the scale of the challenge, how the US government can better support domestic and allied refining, and how African nations can climb the critical minerals supply chains.

On October 10, Chinese Communist Party authorities handcuffed and detained the lead pastor of Zion Church, Ezra Jin Mingri, beginning China’s largest crackdown against a single house church in over 40 years. Party officials also detained or disappeared an estimated 30 other pastors and associates of Zion Church. Days earlier, the CCP escalated its rhetoric in the ongoing trade war between the United States and China. Beijing often demands that other nations remain silent about its human rights record as part of negotiations. But Pastor Jin’s arrest is a reminder of the human cost of acquiescence to that demand. Join Hudson for a conversation with Pastor Jin’s daughter and son-in-law about Pastor Jin, why he and the other detained Zion Church members matter for US foreign policy, and what the US government can do to secure the church members’ release. Senator Ted Cruz (R-TX) and Representatives Young Kim (R-CA), John Moolenaar (R-MI), and Jim McGovern (D-MA) will provide virtual remarks.

Hudson Institute’s Center for Peace and Security in the Middle East will host a conference, featuring a keynote address by Senator Steve Daines (R-MT), to examine the implications of the recent Armenia-Azerbaijan peace agreement. The conference will also explore the evolving role of the United States in the South Caucasus and assess how renewed peace efforts could reshape the Eurasian strategic landscape.

Southeastern Europe presents many opportunities to the transatlantic community, yet the region still poses numerous challenges. Adversaries have taken advantage of local divisions to cause security problems that could quickly escalate to strategic threats. The region also suffers from poor energy security, and many Southeastern European nations have stalled in their progress toward Euro-Atlantic integration. Concurrent with the World Bank–International Monetary Fund annual meetings in Washington, DC, Hudson will host a high-level discussion on Southeastern Europe. The first panel will explore the geoeconomic opportunities and challenges, while the second will examine the geopolitical and security dimensions of the region.

Hudson Institute’s Nadia Schadlow will host a conference on the future of America’s industrial base. The event will bring together representatives from new firms at the forefront of reindustrialization—companies working to address supply chain vulnerabilities, strengthen national security, and overcome institutional barriers. Company representatives will discuss their experiences, how their firms have navigated obstacles, and what changes the United States needs to make to fortify its manufacturing base. Additionally, investors and manufacturing sector experts will outline the most effective frameworks for attracting private capital and building sustainable public-private partnerships.

The China threat has become increasingly acute during President Donald Trump’s second term. While the White House and Congress navigate economic, security, and political relations with Beijing, the Chinese Communist Party (CCP) continues to undermine the security and sovereignty of the United States and other nations. By funding Russia’s war in Ukraine, bolstering Iran’s military capabilities, and deepening engagement with North Korea, the CCP seeks to increase its global influence and weaken the US and its allies. Congressman John Moolenaar (R-MI), chairman of the House Select Committee on the CCP, will join Hudson Senior Fellow David Feith to discuss how Washington should approach the US-China relationship in an era of rising geopolitical competition.

The “no limits” partnership between China and Russia appears to be deepening. China’s provision of weapons components has served as a lifeline for the Kremlin in its war of aggression against Ukraine. Meanwhile, the two nations’ information warfare is increasingly aligned in its anti-American and anti-Western messaging. Yet there is an asymmetry between Beijing and Moscow. Join Hudson Institute for a panel discussion on how the United States and its allies can combat the rise of this authoritarian alliance.

Both Washington and Bucharest underwent leadership changes in 2025. Less than four months after President Donald Trump’s second inauguration, Romanians elected a new president, who soon formed a new government. Hudson will welcome a key member of this new Romanian administration, Minister of Foreign Affairs H.E. Oana-Silvia Țoiu. Foreign Minister Țoiu entered office amid heightened tensions between Moscow and the West. Russia has repeatedly violated North Atlantic Treaty Organization airspace, including a drone incursion into Romanian skies on September 14. And in late August, a Russian naval drone struck a Ukrainian vessel in the Danube River on the Romanian border. With Peter Rough, Foreign Minister Țoiu will discuss Black Sea security, the war in Ukraine, Russia’s hybrid attacks, and Romania-US relations.

The North Korean government continues to threaten the United States and global security. In particular, Kim Jong Un helps Russia with its invasion of Ukraine by supplying artillery shells, ballistic missiles, and troops. Meanwhile, the Kim regime is a menace to its own people. Washington can counter the threat from Pyongyang and prioritize North Korean human rights by supporting radio broadcasts and foreign media in the country, assisting escapees, and funding efforts to investigate human rights abuses. Such policies would both challenge the Kim regime and promote American interests abroad. Join Hudson Institute for a panel discussion on the connection between human rights in North Korea and US national security. Representative Young Kim (R-CA) will deliver a virtual keynote address.