Russian reforms to remain difficult, despite Kudrin’s return

The appointment of well-respected former Finance Minister, Alexei Kudrin, as the Deputy Head of the President’s Economic Council has revived hopes that Russia could be set for a new wave of liberalising reforms. However, while there have undoubtedly been substantial improvements in some areas of policymaking in recent years – notably at the central bank – we suspect that the deeper structural measures needed to revive the faltering economy will remain elusive.