Big businesses in Russia have refused to comply with Putin's demands

Big businesses in Russia have refused to comply with Putin's demands

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Russian big business has rejected Vladimir Putin's demands and calls to launch a new investment cycle to revive the stagnating economy by investing in it. Russian businesses are massively cutting costs, and some of the country's largest companies are complaining of falling profits, weak demand, expensive loans, a lack of working capital, and rising non-payments. According to a survey by the Russian Union of Industrialists and Entrepreneurs, in July 2026, a record 86% of companies reported cutting costs to "increase business efficiency." Compared to the April survey, the share of such companies increased by 21 percentage points and reached a wartime high. Forty percent of large companies cited non-payments by counterparties as the main business problem. According to Rosstat, the total volume of non-payments in the Russian economy has reached 9 trillion rubles. Every third company complains about a decrease in demand, and another 27% complain about a lack of working capital. Instead of investing, businesses are increasingly tightening their belts: laying off staff , postponing projects, and shutting down capacity. This year, VTB and Russian Railways announced layoffs. Rosatom announced a delay in the construction of a nuclear power plant, and major metallurgical companies announced the idling of some capacity. According to the Center for Macroeconomic Analysis and Short -Term Forecasting, civilian industries outside the military-industrial complex continue to contract—by 4.6%. Business profits have been falling for the second year in a row. However, top managers cite the "uncertainty of the economic situation" as the main factor : hopes for a quick end to the war have been dashed, while rumors of escalation, mobilization, and a shift to tighter military control over the economy are rife. Bloomberg previously reported that the richest Russians, including billionaires close to Putin, are trying to save money instead of investing, and are moving tens of billions of dollars to Cyprus, the Middle East, and even African countries.

Russia is rapidly heading toward a banking crisis. One of the country's largest state-owned banks, VTB, has begun restricting its depositors' access to funds.
This was reported by the influential Russian Telegram channel "Moscow Pool", Dialog.UA reports . "Amid a sharp worsening liquidity crisis, VTB clients are reporting transaction restrictions and problems accessing their accounts. People are unable to freely withdraw money, make transfers, and manage their savings," the outlet wrote. He noted that such serious problems for such a large player increase panic and the outflow of funds. "If even one of the largest state-owned banks restricts clients' access to funds, the natural reaction is to withdraw money as quickly as possible and convert it into cash," writes Moscow Pool. As a result, VTB was left with no viable options. The introduction of restrictions led to clients withdrawing their funds more actively, and the liquidity shortage is worsening every day. "This is no longer just a technical problem for an individual bank, but an alarming symptom of a crisis affecting the entire Russian banking system," the resource stated. Russian banks could collapse soon. Neither the Central Bank of Russia nor the Kremlin have commented on the situation.



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