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Similarly much-touted financial sanctions have led to a bigger role for state-owned banks which, unsurprisingly enough, are also filled with KGB veterans. If anything, further sanctions wouldn’t just fail to hurt Mr Putin’s war cabinet, they would secure its members' place as the top beneficiaries of Russia’s deepening economic autarky. The same logic is true of domestic politics: as the country descends into a near-permanent state of siege, the security services will be the most important pillar of the regime. That further cements the hard men’s grip on the country.

After two years of covid-induced self-isolation for Kremlin bosses, there is a clear tendency toward tunnel vision and a dearth of checks and balances. Russia’s interests are increasingly becoming conflated with the personal interests of the people at the very top of the system.

-- Alexander Gabuev, Feb 19th, 2022.

https://www.economist.com/by-invitation/2022/02/19/alexander-gabuev-writes-from-moscow-on-why-vladimir-putin-and-his-entourage-want-war