Russia’s economy is struggling. But that won’t bring Putin to the negotiating table
20 December 2025
Featured in CNN
Russia and Ukraine
Western sanctions have not inflicted enough pain on Russia’s energy-focused economy to change Moscow’s plans for the war, Richard Connolly at the Royal United Services Institute (RUSI) told CNN. “As long as Russia’s pumping oil and they’re selling it at a fairly reasonable price, they have enough money to just muddle along,” said the senior fellow in international security at the UK-based think tank. “I’m not saying it’s a really rosy picture for them, but they’ve got enough for the economy not to be a factor in Putin’s calculus when he’s thinking about the war,” Connolly added.

