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Boris Titov, Russia's special representative for relations with international organizations, attends the general meeting of the Russian Union of Industrialists and Entrepreneurs (RSPP) in Moscow, Russia, on March 18, 2025. / Reuters, Yonhap

As the war with Ukraine enters its fifth year, warnings have emerged that the Russian economy could spiral out of control if it remains focused entirely on defense industries. Amid the prolonged war, internal concerns regarding an economic slowdown and the wartime economic footing appear to be surfacing.

Boris Titov, appointed by Russian President Vladimir Putin in 2024 as his special representative for relations with international organizations to achieve the Sustainable Development Goals, stated in an interview with local business media outlet RBC that the defense economy and civilian economy have always coexisted, and the key lies in maintaining a balance between the two.

Likening the current state of the Russian economy to warriors in Norse mythology, Titov emphasized that this is not a normal economy, but a kind of "berserk mode" that can only be sustained for a very limited period, urging a prudent reassessment of whether to maintain the wartime system. The term "berserk" describes entering a state of extreme frenzy and fury in combat to fight fiercely without fear, which can be interpreted as meaning the Russian economy is running out of control.

The Russian government has recently tightened pressure on the private sector by pushing for tax hikes and asset redistribution, encouraging corporate donations to fund the war, and warning of sanctions against enterprises lacking adequate drone defense installations.

Some hardliners have even proposed the wartime total mobilization of the Joseph Stalin regime during World War II as an economic model.

However, as the economic slump in non-military sectors drags on, an undercurrent of internal pushback is also emerging.

According to Reuters, Russia's economic growth rate is projected to reach just 0.4% this year, with concerns raised that it could drop further amid ongoing Ukrainian strikes targeting refineries and grain infrastructure.

Earlier, Moscow Mayor Sergei Sobyanin criticized the trend, stating that collapsing the ordinary economy means collapsing the entire nation.

Reuters reported that ahead of parliamentary elections scheduled for this month, war fatigue is spreading, accompanied by growing public demand for a peace agreement.

                                                                                                         Lee Jeong-eun