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Putin has run out of moves

The broad consensus among Russia-watchers is that the country is facing a prolonged bout of stagflation. Growth this year is unlikely to exceed 1%, and inflation is still stuck at 6% (or more). Moreover, the most promising option for reviving the economy is the least likely to be pursued, because it requires President Vladimir Putin's willingness to end the war in Ukraine. The downside risks are legion. Russian troops have barely advanced in Ukraine this year, and Russia cannot spend more on i

Vladimir Putin gestures during a visit in Ulan-Ude, Russia, on August 10, 2026.

Fedorov’s call for wartime elections, explained

The Kyiv Independent's Deputy Chief Editor Oleksiy Sorokin and Chief Editor Olga Rudenko debate whether Ukraine could hold an election during the war, what would need to change to make it possible, and whether delaying elections indefinitely could become a threat to Ukrainian democracy.

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In response to Russia's full-scale invasion, PepsiCo announced it would suspend production and sales in Russia in March 2022 — and yet, last year it still paid $237 million in income tax to the Russian state. PepsiCo, one of the largest food and drink producers in the world, remains Russia's fourth-largest foreign business — with 60,000 workers and 19 factories still producing Pepsi Cola for Russian shelves under new names, Lyubimaya Cola and Evervess Cola. That continued presence means more m

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