Sanctions have thrust Vladimir Putin’s inner circle into the public domain. In response, the state has lent sanctioned individuals a helping hand. While previously, they would get individual government contracts, the lucky few are now setting their sights on entire industries via the mechanism of public-private partnerships. The president sees state capitalists as patriotic businesspeople, and they realize that sanctions have made Russia the only place where they can make money.
America’s allies worry about the reliability of U.S. engagement to shape the global financial system. Current trends suggest other economies will grow and leave the United States with a declining share of the global economy.
Nonresident Scholar Geoeconomics and Strategy Program
Rozlyn C. Engel is a nonresident scholar in the Geoeconomics and Strategy Program at the Carnegie Endowment for International Peace, where she focuses on macroeconomic risks, U.S. economic policy (foreign and domestic), long-term economic trends shaping the global security landscape, and economic intelligence analysis.
Lehne is a visiting scholar at Carnegie Europe in Brussels, where his research focuses on the post–Lisbon Treaty development of the European Union’s foreign policy, with a specific focus on relations between the EU and member states.
Hamza Meddeb is a nonresident scholar at the Carnegie Middle East Center, where his research focuses on economic reform, political economy of conflicts, and border insecurity across the Middle East and North Africa.
Paul Stronski is a senior fellow in Carnegie’s Russia and Eurasia Program, where his research focuses on the relationship between Russia and neighboring countries in Central Asia and the South Caucasus.