• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons

2

MacKenzie Scott's approach to her $26 billion giving spree was inspired by a book she read in college about writing

3

Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says

1

AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons

2

MacKenzie Scott's approach to her $26 billion giving spree was inspired by a book she read in college about writing

3

Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says
PoliticsRussia

Former top Russian official admits the country is over Putin and can ‘imagine a future without him’ — even elites bail as Kremlin seizes their assets 

Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
Down Arrow Button Icon
Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
Down Arrow Button Icon
May 16, 2026, 6:07 PM ET
Russian President Vladimir Putin attends a ceremony to lay flowers at the Tomb of the Unknown Soldier by the Kremlin wall in central Moscow on May 9, 2026.
Russian President Vladimir Putin attends a ceremony to lay flowers at the Tomb of the Unknown Soldier by the Kremlin wall in central Moscow on May 9, 2026.Alexander NEMENOV / POOL / AFP via Getty Images

Russians are starting to acknowledge that President Vladimir Putin has led the country to a dead end and can’t shape its future, according to a former senior official in the Kremlin.

Recommended Video

In a recent Economist op-ed authored anonymously, the former official pointed out that fellow government peers in Moscow, regional governors and businessmen have stopped using the first person plural when describing Putin’s actions.

In other words, Russia’s elites found a subtle way to no longer express solidarity with Putin, describing what “he” does rather than what “we” do.

That shift took place last spring, but does not signal a rebellion is imminent, the former official added, as the state still controls key levers of repression and fear.

At the same time, the regime has stopped bothering to sell a narrative of national restoration or modernization to the rest of the country, which is losing enormous amounts of blood and treasure in the battlefields of Ukraine.

“The irony is that Mr. Putin started the war to preserve power and the system he has created,” the official wrote. “Now, for the first time since the conflict began, Russians are starting to imagine a future without him.” 

The mounting costs of Putin’s war on Ukraine have contributed to the nation’s shift, as Russians grapple with higher inflation, more taxes, crumbling infrastructure, tighter censorship, and myriad new restrictions.

High inflation has also kept interest rates high. As companies and other borrowers struggle to service debt, defaults have climbed and warnings of a financial crisis have multiplied.

Another factor is pushback from Russian elites, who are banned from living abroad and have lost the protection of Western laws that preserved their wealth.

The former official estimated that the state has seized around $60 billion in assets from private businessmen over the past three years, either outright nationalizing their property or redistributing it to cronies.

“It is not that the elites have suddenly discovered a taste for the rule of law or democracy,” the op-ed said. “But even those loyal to the regime crave rules and institutions that can resolve conflicts fairly.”

Meanwhile, as the rules-based global order fades, Russia can’t game the system as much by exploiting institutions like the United Nations Security Council. The West’s decline also means Russia is losing its foil, creating an identity crisis.

Finally, Russia’s previous social contract—which let citizens enjoy private lives as long as they stayed out of politics—has collapsed, the former official added.

Instead of providing convenience, services and consumption, the regime only inflicts repression, intrusion and censorship.

“People are required to be loyal without being told what future that loyalty serves,” the official said.

The Kremlin’s internet blackouts have raised howls among ordinary Russians as the regime tries to limit information on economic woes and soaring casualties in Ukraine.

And the country’s disconnection from the regime comes as Putin has removed himself from public life, literally retreating into a bunker.

He spends more time in underground bunkers micromanaging his war, paranoid about a coup or an assassination attempt by Ukrainian drones, sources told the Financial Times.

One person who knows him told the FT that Putin devotes 70% of his day to the war and only 30% to other duties, including the economy.

The quagmire in Ukraine and persistent inflation have weighed on sentiment. Even a survey from Russia’s state-owned pollster showed Putin’s approval rate has fallen to 65.6% from 77.8% at the start of the year and prewar levels well above 80%.

“The system can persist for as long as Mr. Putin remains in power,” the former Russian official wrote in the Economist. “But his every move to preserve and expand it accelerates decay.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Jason Ma
By Jason MaWeekend Editor

Jason Ma is the weekend editor at Fortune, where he covers markets, the economy, finance, and housing.

See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

trump
PoliticsWhite House
MAGA hates AI, but Trump agrees with Bernie it might be time for partial government ownership
By Nick LichtenbergJune 5, 2026
2 hours ago
jack
PoliticsElections
A Kennedy, Kellyanne Conway’s ex-husband and a former Palantir data scientist debated AI regulation. Welcome to the Manhattan primary
By Anthony Izaguirre and The Associated PressJune 5, 2026
9 hours ago
trump
Arts & EntertainmentWhite House
Trump says Knicks owner James Dolan invited him to Game 3 of the NBA Finals and he’s going
By Collin Binkley and The Associated PressJune 5, 2026
10 hours ago
Putin is running out of money to wage war on Ukraine, and this Russian-occupied territory is running out of fuel as Kyiv smashes supply lines
EnergyRussia
Putin is running out of money to wage war on Ukraine, and this Russian-occupied territory is running out of fuel as Kyiv smashes supply lines
By Jason MaJune 5, 2026
10 hours ago
pulte
North AmericaWhite House
Trump backs down on Bill Pulte after bipartisan Senate revolt
By Josh Boak and The Associated PressJune 5, 2026
11 hours ago
Senate passes $70 billion immigration bill to fund ICE following efforts to stop Trump’s $1.7 billion settlement fund
PoliticsImmigration
Senate passes $70 billion immigration bill to fund ICE following efforts to stop Trump’s $1.7 billion settlement fund
By Mary Clare Jalonick, Joey Cappelletti and The Associated PressJune 5, 2026
12 hours ago

Most Popular

AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons
AI
AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons
By Marco Quiroz-GutierrezJune 5, 2026
19 hours ago
MacKenzie Scott's approach to her $26 billion giving spree was inspired by a book she read in college about writing
Success
MacKenzie Scott's approach to her $26 billion giving spree was inspired by a book she read in college about writing
By Sydney LakeJune 5, 2026
21 hours ago
Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says
Economy
Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says
By Nick LichtenbergJune 5, 2026
21 hours ago
Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy
Cybersecurity
Ohio city workers are covering automated license plate readers with trash bags as officials sound the alarm on 'egregious violations' of privacy
By Sasha RogelbergJune 3, 2026
3 days ago
10,000 Boomers a day, $39 trillion in debt, and no benefit cuts: Bessent stakes Social Security on the Trump economy
Economy
10,000 Boomers a day, $39 trillion in debt, and no benefit cuts: Bessent stakes Social Security on the Trump economy
By Nick LichtenbergJune 4, 2026
1 day ago
Current price of oil as of June 5, 2026
Personal Finance
Current price of oil as of June 5, 2026
By Joseph HostetlerJune 5, 2026
15 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.