Rumors Have Begun To Circulate In Russia About The Resignations Of Nabiullina And Mishustin And The Introduction Of A “mobilization Economy”
- 11.06.2026, 22:28
What is known.
The prolonged absence from the public eye of Elvira Nabiullina, head of the Central Bank of Russia , who, citing illness, missed the St. Petersburg Economic Forum, has sparked a wave of rumors about upcoming personnel changes that could affect not only the Central Bank but the entire power structure.
The Telegram channel “We Can Explain", which claims to have sources close to the Central Bank and the presidential administration, asserts that Nabiullina is discussing the possibility of stepping down from her post as head of the Central Bank, a position she has held since 2013. According to “MO” sources, Nabiullina is allegedly dissatisfied with the Kremlin’s course: she agrees to serve out her term until 2027, but is not prepared to carry out her duties in the event of martial law, border closures, etc. A source at "MO" attributes Nabiullina’s absence from the SPIEF to a "diplomatic illness": She "informed the leader, diplomatically fell ill, and is awaiting his response."
At the same time, rumors have surfaced about the impending resignation of Mikhail Mishustin’s government, which has held the prime minister’s post since 2020. A version is circulating that Mishustin may be replaced by Andrei Belousov—currently the defense minister and previously the president’s economic advisor—writes political analyst Ilya Graschenkov.
A proponent of the “besieged fortress” logic and state planning, Belousov is seen as a man of a mobilization-oriented approach, capable of fitting into the logic of an economy of prolonged confrontation, notes Graschenkov: “But his appointment as prime minister would signify not just a personnel reshuffle, but a far more serious signal: the state is ready to shift from a model of adaptation to a model of a rigid mobilization economy.”
Essentially, this concerns the government’s mandate for a new economic system—a de facto State Planning Committee, a military-order economy, manual resource allocation, and a priority on industrial mobilization. Rumors of the government’s resignation “should be taken precisely as rumors,” Graschenkov emphasizes: “This reflects the elites’ nervousness about the state of the economy.” Although the expert does not consider the scenario of the government’s resignation “far-fetched”: the Kremlin might go this route to alleviate the pent-up frustration of a public dissatisfied with inflation, restrictions, and internet blackouts.
As for Nabiullina, she assumes she will step down as head of the Central Bank in 2027, as previously stated by The Bell an acquaintance of hers. Next year marks the end of Nabiullina’s third and final term under current law, though sources told The Bell that legislation could be amended to allow for a fourth term if desired.
“Nabiullina herself wants to step down, but she has mixed feelings,” one of the publication’s sources claimed. According to The Bell, Nabullina could be replaced by Deputy Chief of Staff of the Presidential Administration Maxim Oreshkin, VTB CEO Andrei Kostin, or Promsvyazbank CEO Petr Fradkov, although there have not yet been any substantive discussions regarding a new candidate.