The Kremlin’s Failing Monopoly
Few Russian policymakers, much less the Russian public, expected oil and gas prices to collapse as they have. If prices remain stagnant at current levels, the regime that Vladimir Putin created - one based on a combination of repression and redistribution - is doomed to failure.
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CAMBRIDGE – Ever since Vladimir Putin came to power a decade ago, the Kremlin regime has relied on two pillars: the security forces and energy exports. By suppressing internal rivals and absorbing their assets, the regime created a dual monopoly.