Unbalancing Act. What the 2025 Budget Says About the Russian Economy

After the long-awaited decision of the United States to allow the use of Western-made weapons against internationally recognized Russian territory, Russia retaliated by launching an Oreshnik missile, which it claims is a newly developed intercontinental ballistic missile. With many details about the new missile still unknown, the danger of possible nuclear escalation looms over the world, leaving decisionmakers in the West grappling with the question of how to navigate such dangerous terrain.Host - Alex GabuevGuest - James ActonMusic by Liam Gordon

For many, the recent victory of Donald Trump in the U.S. presidential election looks like a clear win for the Kremlin. Trump has promised to stop the war in Ukraine swiftly—presumably on terms more favorable to Moscow than to Kyiv. But does the president-elect really have what it takes to convince Moscow to stop its relentless assault on Ukraine? What steps does he need to take to attempt to secure the promised peace deal? What will happen if those efforts fail?

Russia is using agents of influence, propaganda, vote buying, and the Orthodox Church to retain influence in Moldova. With a presidential election looming, the people of Moldova must decide whether they want to continue the EU-integration course led by President Maia Sandu, or whether to spurn it and pursue a different path, all while Russia tries to seek and invent new ways to remove agency from what it considers “a potential part of Russia.” You can read Maksim Samorukov’s recent paper on Moldova here: https://carnegieendowment.org/research/2024/10/moldova-russia-strategy?lang=en&center=russia-eurasia Host – Alexander GabuevGuests – Paula Erizanu and Maksim SamorukovProduced by Dmitrii KuznetsovMusic by Liam Gordon

Despite predictions that the Russian military budget had reached its peak, the recently announced 2025/26 budget shows otherwise. To keep the war machine oiled and functioning, the Russian government is once again raising military spending substantially to levels not seen since the collapse of the Soviet Union. Some in the Russian elites believe that ongoing high demand in the military industrial complex will expedite economic growth. Several miscalculations by the West and a lack of massive military achievements from Ukraine have allowed the Russian economy to withstand the pressure of sanctions. But how sustainable is the current economic strategy, and how long can Putin fund his atrocious war while damaging crucial yet vulnerable economic sectors like healthcare, education, and science?Read Kolyandr's piece on Western sanctions for Carnegie Politika:https://carnegieendowment.org/russia-eurasia/politika/2024/09/russia-eu-sanctions-trade?lang=en&center=russia-eurasiaHost — Alex GabuevGuests — Alexandra Prokopenko, Alexander KolyandrProducer — Dmitrii KuznetsovMusic by Liam Gordon 

In August, the Ukrainian armed forces managed to pull off an incursion into Russian territory. Unlike previous forays executed by small paramilitary groups, the incursion into Russia's Kursk region appears to be more strategic and serious. Russia was forced to retreat, leaving behind a lot of conscripts who were taken as prisoners of war by the Ukrainian army. While the operation seems to be slowing down, its long lasting consequences are still not clear. Regional governments in border regions of Russia are trying to maintain the facade of life as usual while evacuating people from the affected area.The Kremlin, meanwhile, is looking for a way to counteract the enemy's operation and recover from such a reputational blow for a nuclear state.

Russia’s unjustified aggression against Ukraine has revitalized NATO, and this new energy was on display at the recent 75th anniversary summit of the alliance. While there were some long-term decisions to boost European deterrence against the Russian threat, other key questions were left unanswered. Can Ukraine become a full member of the alliance? When can this happen? The open-ended confrontation in Eastern Europe, and the risks posed by a belligerent Russia, have resulted in a situation that is more ripe for escalation than the darkest days of the Cold War.In this episode, renowned historian Mary Elise Sarotte discusses the roots of the current crisis. Author of Not One Inch: America, Russia, and the Making of Post–Cold War Stalemate, Mary Elise Sarotte is also Marie-Josée and Henry R. Kravis Distinguished Professor of Historical Studies at Johns Hopkins University. What should the U.S. and Europe do before it’s too late to help Ukraine? How are the historical cases of Norway and West Germany joining NATO relevant to Ukraine today? What can history teach us when it comes to preventing the security situation in Europe from getting even worse?Further reading:- Sarotte, M.E., A Better Path for Ukraine and NATO, Foreign Affairs

The war in Ukraine has left a group of “in-between” European countries more vulnerable and insecure than ever before. These countries—Armenia, Bosnia and Herzegovina, Georgia, Moldova, and Serbia—find themselves in what we have termed an “arc of instability” between Russia and the European Union.

Putin has visited North Korea for the first time in 24 years. The visit reflects the two countries' deepening alignment amid Pyongyang's active support for Russia's aggression against Ukraine. Andrei Lankov provides insights into the signals being exchanged between Moscow and Pyongyang, and addresses the question of whether a real alliance might be on the cards.

Following his fifth presidential inauguration, Russian President Vladimir Putin has approved a new government. The most significant change is to the Defense Ministry, which will now be led by Andrei Belousov, a Keynesian economist and former deputy prime minister. Coming amid the ongoing war in Ukraine and notable arrests within the Defense Ministry, the reshuffle has prompted questions about Kremlin priorities. What will Belousov's first moves as defense minister be? How will his predecessor Sergei Shoigu’s role evolve, and how might it impact the frontline in Ukraine?

Responsibility for the March 22 terrorist attack at the Crocus City concert hall has been claimed by the Afghanistan-based Islamic State Khorasan (ISIS-K), and most of the suspects are migrants from Tajikistan. Yet Russian authorities remain steadfast in their insistence that Ukraine and "Western forces" orchestrated the indiscriminate murder of over 140 people. What does this fixation on Ukraine signify for Russia’s regime stability? Is there genuine conviction within Putin’s inner circle that Ukraine masterminded the attack? And what real threats does Russia face from radicalization in Central Asia?