Russia ANNOUNCES DEFAULT! Moscow has gone BANKRUPT. A KREMLIN SPLIT erupts against Putin

Added: 2026-05-25

[00:00:07][music] Today on the air of the program Your Money, details about the split within Putin's elites, a record trillion rubble deficit in the budget, sanctions against Patriarch Kirill and Kadirov's business.

[00:00:28]I'm Sergey Malnif. Welcome and let's begin.

[00:00:37]The economic situation in Russia continues to deteriorate. The hole in the Treasury has already reached 6 trillion rubles. This is an anti-record for the deficit of Putin's budget in the entire history. And it's telling that such a collapse is happening during a period of colossal growth in oil prices.

[00:00:54]So where is your money disappearing to?

[00:00:56]Let's figure it out.

[00:00:58]Putin is leaving Russia without money and without a future. The hole in the Kremlin's treasury has reached a new record.

[00:01:05]>> Honestly, I don't know. I mean, it's hard to call this anything other than bankruptcy. In other words, it's unclear where they will get this money from.

[00:01:13]>> The budget deficit in the aggressor country for the first four months of this year has exceeded the record deficit for the entire year of 2025. It has reached 5 trill777 billion rubles >> by the end of the first quarter. that is January to March it was already 4.6 6 trillion rubles and now there's another increase of more than a trillion rubles in just 1 month and this is a catastrophe that is already obvious to everyone. Let's take a closer look at it. So the budget revenues for 4 months amounted to 11 trill721 billion rubles. That is well the state managed to collect just under 12 trillion rubles. At the same time expenditures amounted to 17 trill8 billion rubles. In other words, almost 18 trillion rubles.

[00:02:01]>> The difference between revenues and expenditures. That is the deficit. Those very nearly 6 trillion rubles. [music] But this is the federal budget deficit.

[00:02:10]And regional budgets are not lagging behind in setting anti-records either.

[00:02:14]>> Literally at the end of April, Silanov spoke at the Federation Council and said that they expect most likely, as you understand, this is an underestimated forecast. They expect about 2 trillion rubles. the total deficit of the consolidated regional budgets this year.

[00:02:29]>> Simple calculations show that if the deficit is already at a record high in the first four months, by the end of the year, it will reach absolutely unimaginable proportions.

[00:02:38]>> I thought it would be 15 trillion rubles, but here it could even reach 18 if things continue as they are now. Of course, oil and gas revenues might slightly improve this situation just a little.

[00:02:50]And maybe the government will start actively cutting expenses starting from the end of the second quarter and the deficit will probably not be 18 but a bit more reasonable. But if it's already six now and growing by a trillion each month, then if the current trend continues, the budget deficit will still be enormous.

[00:03:08]>> The hardest period is autumn and the end of the year when all these deficits sharply increase. But even now 6 trillion is the federal deficit. 2 trillion is the regional one. Honestly, I don't know. I mean, it's hard to call this anything other than bankruptcy. In other words, it's unclear where they're going to get this money from.

[00:03:27]>> A hole in the Treasury that's spreading to unbelievable proportions year after year, battered by war, by the military economy, inflated by Putin's bloody plans, economists are certain.

[00:03:39]>> Well, first of all, the expenses, but we see that in previous years, advances were limited to January and February, but now this has stretched into May. In April, the federal budget spent almost 5 trillion rubles, 4.7. In other words, they can't keep expenses under control.

[00:03:57]Why? The model of a centralized state military economy can't generate income on its own. It constantly demands money from the budget.

[00:04:05]>> The Kremlin doesn't really have much to hope for. Oil and gas revenues for April, although significantly higher than in March, still remain very low, more than 20% less than in April 2025.

[00:04:17]The expected military windfall from the war in Iran did not materialize. Even if the Hormus Strait remains closed, additional revenues in May will amount to only 850 to 900 billion rubles. Of course, this will replenish the aggressor country's budget more than if oil prices were at January levels.

[00:04:36]However, these billions do not solve the problem of the huge deficit.

[00:04:40]>> Everyone admits that the additional budget revenues from oil turned out to be significantly lower than expected.

[00:04:46]All of this, of course, is a consequence of Ukraine's strikes on Russia's export capacities on ports, on oil refineries, and a result of the sharp reduction in oil production because it is precisely the MET or mineral extraction tax is calculated based on oil production, and production has fallen to a 16-year low.

[00:05:06]>> Even with a half empty budget, the main priority for the Russian authorities remains the war against Ukraine.

[00:05:12]Meanwhile, public sector workers, teachers, and doctors are experiencing salary delays and funding for government programs is being halted. For example, the authorities have abandoned the construction of a railway to Kanti Manisk, Russia's oil capital. A project promised more than 10 years ago has been crossed out, removed from the list of priorities. But this won't patch the hole in the budget because the war consumes everything. Analysts believe that Putin will have to increase the money supply. To put it another way, this means that you are completely unable to borrow any money from international sources abroad. Instead, you are strictly limited to borrowing exclusively from your own domestic population. You can only achieve this borrowing from the people through the implementation of certain specific measures which might potentially be quite harsh, restrictive, or even extremely difficult for the general public to endure in the long run.

[00:06:03]Will they?

[00:06:06]So far, it seems they're trying to distance themselves from such measures.

[00:06:10]So the only real option left >> is still the printing press.

[00:06:15]>> That's basically it. The Kremlin will cover its deficit at the expense of Russians who will once again see shocking prices in stores. Today the population of the Russian Federation, which not so long ago was so fervently rejoicing over the war against Ukraine, is sinking deeper into depression. This is indicated by the February monitoring of the Institute of Psychology. It showed an increase in financial anxiety and psychological distress across all social groups. Symptoms of depression were noted by 42 respondents. Moreover, it seems that the majority in Russia are tired of the war. The continuation of aggression gives them a sense of collapse and lost hopes. That's what Russian sociologists are saying.

[00:06:56]However, Russians are in no hurry to take to the streets and demand the withdrawal of troops from Ukraine.

[00:07:09]In the faces of the regime segment today, we have Mikall Ofki, the head of the Ross Telecom Corporation, which has transformed from a telecommunications operator into a key tool of censorship and surveillance, carrying out all the Kremlin's orders and providing the technical foundation for digital control over society. Oski, a United Russia Party member, is a typical representative of the system who built his career on corrupt connections. For his loyalty to Putin, he gained access to your money and to a life of luxury.

[00:07:40]Let's get to know this figure a little better.

[00:07:43]WhatsApp, Telegram, YouTube. For millions of Russians, these names have become symbols of the ongoing struggle to stay connected. While users are searching for a working VPN, the offices of Ros Telecom are buzzing with activity. WhatsApp is dead and Telegram will die in the coming days. Max is growing so everything is fine.

[00:08:01]>> Roscom Nadzor only issues directives but it is this state giant that is the hands technically killing the free internet and [music] >> actually Ross Telecom is the one behind all of this >> monitoring of traffic and testing the throttling of foreign services. All of this is happening under the leadership of one person.

[00:08:18]>> Subscribers of course complain but we are not at all concerned about the YouTube problem. That's their problem.

[00:08:24]Mikoski, a true product of the St. Petersburg political school. His career took off in the 1990s within the structures of banker Vladimir Kogan, who was called the wallet of the security services. When Valentina Matienko became the head of St. Petersburg, Ofki became her right-hand man. First as vice governor for finance and then as head of the administration. We understand that we will have to reduce the parameters of the city budget. We are forced to abandon a whole range of programs, but the main thing is to see the prospects.

[00:08:53]>> His management style was always marked by cold cynicism. Even when the city treasury lost hundreds of billions, he would announce it dryly and calmly. In 2017, after a stint at VTB by Medvev's decree, he was thrown into the digital control front heading Ross Telecom.

[00:09:09]>> Taking this opportunity, I would like to talk a little about the landline telephone. There was a lot of hype about it. A lot of hype. We are moving in the right direction. I don't want to get into a discussion about this right now, but the state performs a very important function of ensuring the security of the country as a whole and of each of us.

[00:09:27]And we are part of this struggle. While Sievki publicly reminisces about telephone handsets and advises children to play not in Roblox, but with a landline device, his personal wealth is growing exponentially. As soon as he came to power, the official began acquiring elite apartments. First an apartment of 277 m in the center of St. Petersburg, then another one of 210 m registered in the name of his wife Natali. Moving to Moscow only raised the stakes. The family acquired apartments on Voro Vigori and an apartment in the Golden Triangle of Kamovniki on Korobenikov Lane. Here, Yvski's neighbor became the head of Roseneft Eigorin. The market value of such real estate is about 200 million rubles.

[00:10:08]>> Money is such a well, it's a fleeting thing. A winery called 78 is a family business registered in the name of his son Dmitri. At the age of 26, Yvki Jr.

[00:10:19]became the owner of 1 and a half thousand hectares of land in Crimea.

[00:10:22]That's the territory of three Vaticans.

[00:10:24]Officially, Dimmitri works at VTB, where he earns about 18 million rubles a year, which clearly wouldn't be enough to buy an apartment in the Russian house in St. Petersburg for 165 million. And >> now they make wine here. The media reports that it's about 30,000 bottles a year. What's most interesting is that for Dimmitri, this is quite a large and labor intensive business. It's all just a hobby for the soul because officially he works in a completely different place. I'm sure you'll guess where with just one try. Of course, at VTB [music] Bank, the second son, Alexander, is not left out either. He and his wife own two neighboring apartments in the elite residential complex Skull Park with a total area exceeding 250 m. [music] In total, investigators discovered that the family of the champion of a sovereign internet owns real estate worth more than a billion rubles.

[00:11:14]>> The most important value that all of us have gained is freedom. Asski is not just a hired manager. He is a member of the general council of United Russia and is currently writing the program with which the party will go to the elections in September. The circle closes. He blocks independent information. He provides the technical foundation for proper voting and he also receives billion ruble bonuses from the state.

[00:11:36]While the country sinks into digital isolation, the family of the internet's executioner enjoys the fruits of that very isolation in their luxurious residences.

[00:11:53]Thanks to Victor Orban being sidelined from power, the next 21st package of EU sanctions against Russia will be one of the most extensive. Brussels plans to expand bans against the shadow fleet banks and Russia's military-industrial complex. The sanctions list may also be expanded to include none other than Patriarch Kiril. What did Russia's richest priest oligarch do to deserve such an honor? Let's show you.

[00:12:18]The chief propagandist of the Russian world, one of the closest confidants of Russian President Vladimir Putin, patriarch Kirill of Moscow and all Russia is now in the EU's crosshairs.

[00:12:33]After Victor Orban's defeat in the Hungarian elections, the European Union received the green light to ramp up pressure on Russia, which had previously been blocked by Budapest, according to Politico citing sources in diplomatic circles. Work has already begun in Brussels on the 21st package of sanctions, which is planned to be agreed upon by midsummer.

[00:12:52]Undoubtedly, it should be understood that Victor Orbin played the role of a sort of representative of Russia in the European Union and was the person through whom a huge number of initiatives related to imposing sanctions were blocked. And this is not speculation. This is information that surfaced before the elections in England when it was to put it another way, although it was not exactly presented in that specific manner, but rather they presented an extensive and substantial body of evidence of connections and most importantly highly sensitive intercepted telephonic conversations of the Hungarian top leadership including foreign minister Sijarto, Russian foreign minister Lavough and various other high-ranking government officials.

[00:13:34]One of the key new measures should be personal restrictions against the leadership of the Russian Orthodox Church and Patriarch Kiril himself.

[00:13:42]Previously, Hungary consistently removed him from the lists despite the active support of the Russian Orthodox Church for Russian aggression against Ukraine.

[00:13:50]Now, the removal of the Hungarian barrier paves the way for sanctions against hierarchs who ideologically justify the war.

[00:13:58]Hungary is no longer a country that, let's put it this way, will do whatever Russia asks. And most importantly, as Mater says, Hungary will not block initiatives that arise in the EU. One of these initiatives concerns the Russian Orthodox Church, since there's already an overwhelming amount of evidence that the Russian Orthodox Church is not, let's say, a religious organization, but rather a division of the Russian FSB, and that is exactly how it should be regarded.

[00:14:25]Patriarch Curiel has faithfully and loyally served the dictator for many years. He has turned Russian orthodoxy into a political and religious machine for the Kremlin and personally bless the war and the army for mass killings and destruction. The topic of war has become the main theme in the patriarch's sermons.

[00:14:42]>> I would like to humbly invite every one of you here today to [music] join in this prayer in order that the Almighty Lord may bestow his divine blessing upon the Russian land. When I speak of the Russian people, I am referring to the ancient land of Russ. It is from this common heritage that there [music] emerged the great Russians and the Ukrainians, also known as the little Russians, and all the other diverse peoples. But it is that very Rus to which we are all historically connected.

[00:15:11]>> The EU is also preparing to target the logistical schemes of Russian oil exports. The tightening of sanctions against violator tankers aims to cut off the flow of foreign currency that fuels the war machine. Europe hopes that a depleted budget will force Putin to soften his stance and abandon unrealistic demands at the upcoming negotiations.

[00:15:31]>> The very important point is that the sanctions are not stopping. In Russia, they constantly say their propaganda says, "Look, just a little longer and Ukraine will stop resisting. Just a little longer and there will be no new sanctions. just a little longer and the sanctions will be lifted. But what is really happening? Ukraine continues to resist and the European Union keeps imposing sanctions just as it did before. The main thing is that they are sending a clear signal that we will continue to do this and we are not going to lift the sanctions. The new package of sanctions will also target tankers from Russia's shadow fleet, Russian banks, financial institutions, militaryindustrial companies, and firms selling stolen Ukrainian grain.

[00:16:11]And now this is yet another signal to Russia. Don't think that the sanctions will be lifted anytime soon. On the contrary, more will be added in the near future. And yes, maybe this won't have a fatal effect on your economy, but it will push it even closer to a very difficult situation. We can already state that there is a recession. And now there is only one question. Will this recession turn into a depression or not?

[00:16:33]Right now, all these statements about sanctions are exactly the kind of statements that push the trajectory of the Russian economy from recession toward depression.

[00:16:41]>> In Brussels, they've only just started working on the 21st package of sanctions. So, right now, the ministers are just throwing out initial ideas.

[00:16:49]According to the plan, everything should be ready and approved sometime in June or early July.

[00:16:57]>> [music] >> Dissatisfaction among the Russian elites with the war, the economy, and censorship is growing. But in the Kremlin, instead of at least trying to calm the important and wealthy, all efforts are being thrown into hiding Putin. After all, he's having another flare up. He sees a coup everywhere.

[00:17:17]Although maybe he's not just imagining it. How likely and how close is a split among the elites? Let's watch.

[00:17:25]Kremlin elite in fighting grows.

[00:17:27]Anti-war and anti-ensorship factions are expanding. A factional clash is inevitable.

[00:17:32]>> What's happening is terrible.

[00:17:34]>> This is a brief summary of a recent article from the Washington Post.

[00:17:37]Journalists citing sources write that internal contradictions within Russia's ruling circles have intensified to previously unseen levels.

[00:17:47]There is a completely obvious conflict between the presidential administration and the FSB's second directorate. These guys have been given a lot of authority and have started to tighten the screws very hard. The presidential administration is trying in some way to make Putin understand that the situation could get out of control.

[00:18:05]They are not attacking each other yet, but they are sacrificing their own pawns without hesitation. As the publication claims, this is clearly seen in the example of Ilia Rameslo, the very same pro-war propagandist who previously cooperated with the Kremlin and attacked the opposition, but is now criticizing Putin. The main reason for all the problems currently in our country is not Kiryenko, not the messenger Max, not the presidential administration, but the person at the very top who controls all of this, Vladimir Putin. That's obvious.

[00:18:34]For criticizing the authorities, the FSB even locked him up in a psychiatric hospital. But a month later, he was released from the place with padded walls. Only 30 days of detention for a Kremlin critic. This story is completely atypical. This is exactly what indicates that the craft is serving the interests of one of the Kremlin factions. And in this, it's not hard to believe. And all these statements by individual propagandists about their disagreement with the Russian authorities about their dissatisfaction. To me, it seems like this is a manifestation and a hint from different influence groups that something could actually happen and it might not be never. It could happen in the near future.

[00:19:11]Remelo himself, of course, will never admit this, but according to him, the confrontation inside the Kremlin is pure truth.

[00:19:18]I get the impression that part of the system is already starting to work against Putin. Essentially, this is similar to what happened at the end of the Soviet Union when people hated the Communist Party and did everything they could to bring about its demise. Putin's Russia will follow the same path as the Soviet Union. Everything is repeating itself.

[00:19:36]>> And here's another interesting point.

[00:19:38][music] According to sources cited by the publication, the current confrontation is very reminiscent of a similar split during Yeltson's time in 1996.

[00:19:47]Back then too, there were two opposing camps, the security forces and the progressive secular group. But which one Putin will support now is hard to say.

[00:19:55]For now, you could say he's playing against everyone. For example, the Kremlin oligarchs, representatives of the so-called progressive camp have suffered.

[00:20:03]the Russian elite again those who remember very well the meeting with with Putin right after the start of the full-scale war where Putin said this won't affect you more than four years have passed and it does affect them right now we are witnessing a classic violation of the social contract that Putin had not with the population although that is also being violated but primarily with the oligarchs because when Putin first ascended to the presidency right at the end of 1999 and the beginning of the 2000s he essentially told the wealthy the oligarchs look I won't interfere in your private business affairs it's your own business I won't take your money but in exchange for that you must not get involved in the political landscape at at the same time the security forces are also getting hit there has been a sharp increase in cases of arrests and trials of members of the military command although before this Putin never touched corrupt officials from the ministry of defense but now danger hangs over everyone especially if they are people Sergey Shyigu yes the worst hit are the associates of the former minister of defense, now secretary of the security council.

[00:21:06]>> I would like to thank Sergey Kushovich Shooyu for what he has done over the past years to build the armed forces.

[00:21:13]>> It is not clear exactly why Putin turned against the friends of his tame reindeer herder, but there are rumors that this is how Putin is trying to reign in Shyu himself. Earlier, the publication Important Stories wrote that Putin is in a panic, fearing that a coup is being prepared and he will be overthrown.

[00:21:29]Putin's paranoia has become so acute that he even moved Kabiva and the children out of Valdai while he himself stays holed up in his bunker. In the presidential administration, visitors go through two levels of security checks, including a full inspection by FSO officers. The FSO has significantly reduced the list of places the president regularly visits. Neither he nor his family visit their usual residences in the Moscow region or in Valdai anymore.

[00:21:53]Employees working near Putin are now forbidden from using mobile phones. They are required to use devices without internet access. These employees are also forbidden from using public transportation. They travel exclusively in FSO vehicles. Surveillance systems have been installed in the homes of cooks, photographers, and security guards.

[00:22:13]It's hard to say who is stirring up the story about Akumor, but judging by the mood, even the rival factions within the Kremlin have something in common. Any member of the Russian elite sees their story, the story of Talikov, the story of Ivanov, and starts to wonder where is the guarantee that I won't be next, that they won't come for me. And those who might be on that list, they start to realize that maybe they need to act preemptively. Just like back in the day, Berea and others acted ahead of time when Stalin wanted to purge them, but in the end, they purged Stalin. That's why I'm more than certain that even among Putin's closest circle, there are people right now who are thinking that actually for for their own safety, maybe just maybe Putin needs to be stopped somehow so that he doesn't stop them. And it's not out of the question that by someone else's hands they might actually pull off if not a prian style mutiny than a palace coup against Putin.

[00:23:12]While the residents of Chetchna affected by the floods are unable to receive compensation or new housing, Kadov is busy promoting his wife's businesses and selling his son's products. It sounds strange, but it's a fact. The once formidable head of the republic has become an advertising agent. More details about this coming up.

[00:23:31]On April 15th, a new hypermarket opened in Groznney, becoming one of the largest retail outlets in the republic. And it has essentially replaced Sidland, which left the market and closed down in 2024.

[00:23:43]>> Today, we have gathered for an important and truly significant occasion, the opening of a modern hypermarket in Kustom.

[00:23:50]This is not just a new retail facility, but an important step towards creating a modern and comfortable environment for life in our republic. Officially the investor in the new hypermarket is the Shik Zed Foundation which declares its support for business in Cheschna for socioeconomic development. However, according to open sources, the company Trade City may be behind the Vikdom chain associated with this facility. Its profits in 2024 exceeded 250 million rubles. Previously, the owners of the structure were named as Raman Kaderov's wife Mednikadova and her business partner. These same assets are also used to control the region's largest shopping center, Grony Mall, also known as TC Berkut.

[00:24:29]>> Custom is a modern complex with a total area of about 10,000 square meters, which includes a sales floor, a food court area, and rental spaces, all integrated into a single well-designed system. Additionally, the hypermarket features products from the new brand Mardzo. This is a confectionary company registered in 2025, and it is also connected to the Kadirov family. During the opening, sweets, including chocolate and glazed fruits, were specially presented to the head of the republic.

[00:25:04]Ramzan Kadro himself personally attended the ceremony and toured the shopping aisles, paying special attention to locally produced goods. One of the central moments was the introduction to the energy drink K13, which the head of the region tasted on camera.

[00:25:18]I don't know what this product is. I don't know what this product is. I don't know what this product is. I don't know what this product is. I don't know what this product is. An energy drink. K12 is the best energy drink. More in one than just an energy drink.

[00:25:32]>> This product is associated with his son Adam Kadirov. Particular attention is drawn to the change in the position of the head of Cheschna. Back in 2012, Rams and Kadirov spoke out sharply against energy drinks, calling them harmful and contrary to religious norms. At that time, their sale in the region was even banned.

[00:25:49]>> Doctors have proven that they harm health, cause exhaustion of the body, depression, or uncontrollable aggression. And what do we see on storeshelves everywhere? Beautifully packaged cans containing this poison are openly sold. I believe that today there is an urgent need to ban the sale of energy drinks in the republic at the legislative level.

[00:26:08]>> Despite only a formal lack of direct connection, the K13 brand is actively promoted within the family circle.

[00:26:14]Commercials are published on social networks, including videos featuring car drifting and the drinks branding. The footage also features the inscription DSAM. This is the unofficial call sign of Adam Kadov, which is used in his circle, including on car license plates and merchandise. Relatives, children of officials, and representatives of the region security forces have also joined in the promotion.

[00:26:34]>> Actually, to be honest, this is quite in character for Kadirov.

[00:26:41]Contradictory statements from Kadirov are a topic that's already been worn out. There are just so many contradictions in him. As for these energy drinks themselves, apparently they saw that there was money to be made from this.

[00:26:54]Right now, they're getting into any kind of easy money they can find.

[00:27:07]This was the program your money. We show the truth about how Putin's criminal regime and his war are making all Russians poorer.