Russian President Vladimir Putin (Image: Getty)
Russian business elites opposing the war in Ukraine are “gaining momentum”, Vladimir Putin’s key propagandist has said. Vladimir Solovyov spoke about the war against Ukraine on Russian radio show “Full Contact”, describing how Russian economic elites are turning their backs on Putin.
Oligarchs and major business figures have long been central to Putin’s hold on power in Russia. However, since the invasion of Ukraine four years ago and the resulting sanctions, many of the country’s wealthiest individuals have seen their fortunes hit significantly hard.
“Now our ruling [class] view the current top leadership as a toxic figure – not even an asset, but a liability,” Maksim Kalashnikov, a Russian writer and commentator, has commented.
“They very much want this war to end, for the return of the old good times, when one could freely travel to the West, not fear sanctions, sell hydrocarbons, and regain the European market,” he added.
In the recent radio speech, Solovyov, a big proponent of the war, acknowledges this widening gap between the Kremlin and the business elites.
He says: “When I see that merchant dirtbags, etrenched in all sorts of cabinets, are starting to say, ‘let’s start negotiations, why are we doing this? You are depriving our kids of a future,’ what freaking future? What future do you have, pathetic merchant pigs? Don’t you understand noone wants you in the West?”
He asks whether they are trying to “organise something akin to Chile in 1973”, referring to the military overthrow of the socialist president Salvador Allende.
“Are we going to deal with this somehow? We should be more strict. Our law enforcement agencies need more powers. And we should deal with it more harshly, very harshly,” he says.
Solovyov concludes his speech by criticising Elvira Nabiullina, the former economic advisor to Putin and the current Governor of the Central Bank of Russia. She is widely credited with keeping the Russian economy afloat despite the financial pressures of the Ukraine war. She once reportedly threatened to quit as head of Russia’s central bank over the decision to invade Ukraine.
As Moscow is forced to borrow more money to finance the war against Ukraine, Russia’s Central Bank estimates that the country’s total external debt, covering both public and private sectors, soared by 10.4% in 2025, reaching $319.8billion.
Solovyov says: “Those who oppose us are gaining momentum. Look, the enemy is declaring, ‘we will give this many billions to purchase and produce heavy-load drones, this many billions for production, $90 billion is being alloted’.
“Meanwhile, what is Nabiullina saying, along with her colleagues? She isn’t saying anything about it, not one word about military production. Nothing at all, this problem doesn’t exist. White pants, black top, black eyeglasses, no problems. She doesn’t see anything.”
It comes as security around Putin has been significantly tightened in recent months. Reports claim surveillance systems have been installed in the homes of close staff members, while staff working near the Russian president face strict rules, including limits on phone use and bans on public transport.
Increased precautions reportedly followed a series of assassinations targeting senior Russian military figures, including the killing of a top general in December. Putin has also reduced the number of places he regularly visits, including avoiding some of his usual residences near Moscow and Valdai.
