"Russia Is Facing A Domino Effect"

• 26.02.2026, 13:47

Even a single statement by any region can trigger a chain reaction.

The current state of the Russian economy resembles the situation in the last years of the USSR. In an interview with "Glavred" the head of the Committee of Economists of Ukraine Andriy Novak told how it can lead to what consequences.

The expert noted that at the end of the Soviet Union there was a cascade of economic and financial shocks that led first to the economic and then to the political collapse of the state. In particular, he recalled the so-called "Pavlovian monetary reform," which devalued citizens' savings and intensified the crisis.

Novak said that after that the USSR lost its ability to fully finance the union republics, which provoked centrifugal processes and accelerated the collapse of the country.

Novak believes that a similar scenario is theoretically possible in modern Russia.

"A similar situation in Russia could erupt at any moment. Now even a single statement about secession of any region from the Russian Federation can provoke a chain reaction throughout the country and similar actions in other regions," he said.

The expert emphasized that the subjects of the Russian Federation differ significantly in the level of economic development - along with relatively prosperous regions there are depressed and crisis regions.

"Therefore, the spark of centrifugal political processes can erupt at any moment, when regional authorities will be unable to provide even basic economic functions on the ground at the expense of the budget," Novak summarized.