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PULSE POINTS
❓WHAT HAPPENED: The Kremlin responded to President Donald J. Trump’s warning about the Russian economy, claiming it has sufficient reserves to achieve its goals.
👤WHO WAS INVOLVED: Kremlin spokesman Dmitry Peskov, Russian President Vladimir Putin, President Donald J. Trump, and Russian Deputy Prime Minister Alexander Novak.
📍WHEN & WHERE: Statements were made on Tuesday and Wednesday, with comments from Moscow during an energy conference.
💬KEY QUOTE: “As for the Russian economy, it has a sufficient and considerable margin of safety to allow the country’s leadership and all of us to implement the plans that we set for ourselves.” – Dmitry Peskov
🎯IMPACT: Economic conditions in Russia remain a focal point in the broader geopolitical competition between Moscow and the West.
IN FULL
The Kremlin on October 14 dismissed President Donald J. Trump’s warnings that Russia’s economy is on the verge of collapse due to the ongoing war in Ukraine. Trump claimed that Russia’s military involvement in Ukraine is severely damaging its global image and economic stability, referencing “long lines waiting for gasoline” as a sign of internal strain.
Responding to those remarks, Kremlin spokesman Dmitry Peskov said Russia’s economy remains resilient. “Russia has considerable reserves,” he claimed, adding that the country’s economic foundation is strong enough to support President Vladimir Putin’s long-term objectives. Peskov also emphasized that Putin remains open to negotiations aimed at ending the conflict in Ukraine.
“As for the Russian economy, it has a sufficient and considerable margin of safety to allow the country’s leadership and all of us to implement the plans that we set for ourselves,” he said.
Amid public concerns about gasoline shortages, Deputy Prime Minister Alexander Novak sought to reassure the Russian public. Speaking at an energy conference in Moscow, he said, “The balance is maintained between production and consumption, and we… are doing everything to ensure that this remains the case.” His comments came after reports of temporary fuel shortages in certain regions, which the government attributes to logistical issues and high seasonal demand.
Despite those assurances, economic forecasts suggest trouble ahead. The Russian government has projected a sharp slowdown in GDP growth, down to just 1.0 percent in 2024, following a stronger performance in previous years. The International Monetary Fund (IMF) has gone further, revising its 2025 forecast to just 0.6 percent. Still, Russian officials insist the economy has outperformed many Western nations, including G7 countries, even under heavy international sanctions.
The war in Ukraine continues to strain Russia’s international relationships, particularly with the United States. According to recent reports, the Trump administration has agreed to provide Ukrainian forces with intelligence specifically targeting Russian energy infrastructure, including oil refineries and pipelines. Kremlin officials argue that Washington and NATO have already been supplying Kiev with intelligence on a regular basis.
The situation has escalated further with renewed nuclear rhetoric. Dmitry Medvedev, a former Russian president and close Putin ally, recently warned that “Russia can use weapons a bomb shelter won’t protect against,” a remark widely interpreted as a threat toward the United States. In response, the Trump administration reportedly deployed nuclear submarines as a show of force.
At the same time, Moscow is expanding its influence beyond the West. Russia recently hosted a Taliban delegation, where Foreign Minister Sergey Lavrov warned against any foreign military return to Afghanistan. The comments came amid reports that Trump is exploring a reoccupation of Bagram Air Base, a move Russia strongly opposes.
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