ADVERTISEMENT
HIS APPROVAL RATINGS ARE SAGGING. His foreign war is floundering while economic woes multiply at home. His erstwhile loyal supporters are rebelling, and there are elections coming up. Donald Trump? Yes, but his role model in the Kremlin is having the same problems.
Another big difference between Trump and Putin, obviously, is that the elections to the state Duma coming up in September are very unlikely to pose a threat to Putin: Over his twenty-six years in power as president and prime minister, the Russian political system has perfected the art of both rigging the vote and keeping undesirables off the ballot in the first place to such a point that only a genuine tsunami of popular anger might be able to break through.
Yet alarm bells are going off. At a recent televised meeting of high-level officials, a petulant Putin demanded to know “why the trajectory of macroeconomic indicators is currently below expectations.” Despite still being fueled by military spending, Russia’s GDP grew just 1 percent in 2025—and shrank by nearly 2 percent in January and February of this year. The budget deficit is growing, and oil revenues are falling despite the spike in oil prices caused by the war in Iran—thanks mainly to Ukraine’s remarkable success in taking out, or at least temporarily disabling, Russia’s oil depots and oil-processing facilities. Those strikes are also adding to the general sense of instability: Even the official Russian media have been reporting on the massive fires following two waves of drone strikes at the southern Russian port city of Tuapse, not only a major transport hub but a popular seaside spot. A viral video shows a tearful Russian woman lamenting that she just wanted to live by the sea with her child, but “now the sea is all fucked up” by oil spills and “those drones are flying around and smashing the fuck out of everything.”