Article StartPresident Vladimir Putin has arrested his own military chief, meanwhile the highly-respected head of the Russian Central Bank bank boss has quit, indicating Putin’s crumbling inner circle.
The head of the Russian Central Bank, Elvira Nabiullina, 58, has reportedly handed in her resignation amid claims she stood up to Putin over his war in Ukraine, which is into its third week.
Meanwhile, General Roman Gavrilov, the deputy chief of Russia ‘s Rosgvardia unit, which was the spearhead of the first push into Ukrainian territory, has been arrested by the feared Federal Security Service of the Russian Federation, The Daily Star reports.
Elvira Nabiullina, Governor of Russia’s Central Bank, who has reportedly handed in her resignation. (Image:
REUTERS/Evgenia Novozhenina//File Photo)
According to Christo Grozev, a Bulgarian investigative journalist, the reason for the arrest is unclear. He cites a course which says he was detained over “leaks of military info that led to loss of life”, while two others say it was “wasteful squandering of fuel”.
Taken together the reports suggest various officials are challenging Putin, as sanctions from The West begin to bite in Russia.
The head of the Russia Bank’s resignation is rumoured to have come after she privately argued with Putin over the devastation faced by Russians from Western sanctions he did not expect to be so serious.
The exact charges that Gavrilov is facing remain unconfirmed (Image:
twitter/christogrozev)
The former economic adviser to the Kremlin leader told reportedly told Putin that his invasion of Ukraine has plunged the Russian economy into a “sewer”, adding: “I am an expert in a completely different field.”
The loss of Nabiullina, would pose a huge blow to Putin and signal a deepening crisis for the crisis-ridden Russian economy which has seen the rouble plunge and the massive loss of international financial links.
She is respected both in Moscow and the West as a highly competent technocrat, one of the best central bankers in the world who has guided Russia through relative stability even amid worsening relations with the West – but the war on Ukraine may have changed her line.
She showed her concern for the economic impact of Western sanctions in the wake of Putin’s invasion by wearing black and no brooch in a press conference after his invasion of Ukraine.
Russian troops are taking heavy losses in Ukraine (Image:
Anadolu Agency via Getty Images)
In her famous press conference on 28 February – not wearing a brooch – she vowed to “take all necessary measures to protect financial and price stability, support the Russian financial sector and protect the well-being of citizens and the economy as a whole.”
She reportedly warned him in a video meeting he will soon face tearaway inflation at around 70 per cent and shocked him with the sewer analogy. She had earlier made clear that high inflation could undermine the central bank’s credibility.
“Putin was so embarrassed by such audacity that he almost immediately ended the meeting,” said one account.
He had been expected to ratify a third term for her by 24 March but this now seems in doubt.
Putin’s spokesman Dmitry Peskov refused to confirm she would be reappointed.
Her deputy Vladimir Chistyukhin is spoken of as a successor.
But her loss at the helm of the Russian Central Bank – especially in a period of unprecedented turmoil – could itself deepen Moscow’s economic crisis.
She has been the target of a campaign to blame her for the impact of asset freezes on influential oligarchs imposed by the West when the reason for these were the decision to go to war with Ukraine.
An ethnic Tatar, Putin is seen as unable to “repress” her because it would be an admission of his mistake in appointing her.
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