In Putin’s State, Fear Governs Business

The essence of Putin's regime embodies a personalistic dictatorship where the state is synonymous with his identity, creating a ruling dynamic that emphasizes dependency and fear. Private businesses operate under the shadow of state control, acknowledging that their security and legality are contingent on placating Putin. This pervasive uncertainty fosters an unfavorable investment climate, as potential investors must navigate the risks associated with Putin's arbitrary governance. The intertwining of personal power and state function results in a system that stifles prosperity and discourages genuine entrepreneurial growth, illustrating a stark contrast between the existence of private enterprise and the overarching threat posed by the state.