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Briefing Notes

High-level discussion of Russia’s economic problems is taking place for a reason

Putin spotlights economic decline as elections near, fueling elite tensions, pressure on government, and rising influence of security services

Short Analysis

Hidden reserves, deferred budget reductions, and another key rate cut

The Russian economy is gradually losing resilience and drawing down its reserves. The war in the Persian Gulf provides the Kremlin with temporary relief, but does not resolve underlying problems

Short Analysis

The Orbán International: How Moscow, Mar-a-Lago, and European nationalists built a shared reality

Orbán stands at the centre of a transnational alliance that casts him as both defender and disruptor of the European order, with Hungary’s election set to test the strength of that project

Short Analysis

Worse than drones: Russians react acutely to blocking and shutdowns, and resentment is growing

Internet shutdowns and messaging app bans have become one of the most sensitive pressure points in Russia, contributing to a gradual decline in support for the authorities

Briefing Notes

Loyalty, not money: Why Putin seeks ‘voluntary contributions’ from big business for the war against Ukraine

Putin’s call for ‘voluntary’ business contributions is less about funding the war and more about reaffirming elite loyalty in an increasingly coercive system

Short Analysis

Could Russia become a mediator between the US and Iran?

Russia positions itself as a potential intermediary in the Iran war to convert limited leverage in the Middle East into bargaining power over Ukraine

Briefing Notes

The Iran card and new flashpoints: How Moscow is raising the stakes in its confrontation with the West

Russia escalates rhetoric and pressure on Europe, leveraging the Iran conflict to influence Ukraine negotiations and challenge Western unity

Short Analysis

A declining power in denial: How Russian media see Europe’s leaders

Russian media portray Europe’s leaders as divided, weak, and in decline, amplifying internal dissent and contradictions to undermine the perception of European unity and strength

Briefing Notes

High-level discussion of Russia’s economic problems is taking place for a reason

Putin spotlights economic decline as elections near, fueling elite tensions, pressure on government, and rising influence of security services

Short Analysis

Hidden reserves, deferred budget reductions, and another key rate cut

The Russian economy is gradually losing resilience and drawing down its reserves. The war in the Persian Gulf provides the Kremlin with temporary relief, but does not resolve underlying problems

Short Analysis

The Orbán International: How Moscow, Mar-a-Lago, and European nationalists built a shared reality

Orbán stands at the centre of a transnational alliance that casts him as both defender and disruptor of the European order, with Hungary’s election set to test the strength of that project

Short Analysis

Worse than drones: Russians react acutely to blocking and shutdowns, and resentment is growing

Internet shutdowns and messaging app bans have become one of the most sensitive pressure points in Russia, contributing to a gradual decline in support for the authorities

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New Eurasian Strategies Centre
Based in London and Washington, D.C., NEST Centre brings together the best expertise on Russia and the surrounding region. Its mission is to identify the forces shaping Russia’s long-term future, analyse their impact and develop strategies to bring about peaceful and positive development of the country 

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Short Analysis

Putin should worry about the Trump-Xi relationship

For Russia, the implications of a U.S.-China rapprochement – even if based on convenience rather than conviction – are profound.

Briefing Notes

A budget without a future: How the Russian economy stays afloat

Russia’s 2026–2028 budget shows managed stagnation: war spending dominates, society adapts to economic pressure, but optimism is starting to fade

Reports

Marriage without love: The Sino-Russian partnership and what it means for the world

The main risk for the West is Russia’s growing structural dependence on China, not the formation of a formal alliance 
Bobo LoJohn LoughSergey AleksashenkoSergei MedvedevAleksei Chigadaev
Bobo Lo, John Lough, Sergey Aleksashenko, Sergei Medvedev, Aleksei Chigadaev

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