Vladimir Putin, President of the Russian Federation dismissed reports of a possible new mobilisation in Russia, stated that he had no intention of targeting the government district in Kyiv and predicted that Ukraine would face three financial crises at once — a currency crisis, a budget crisis and a banking crisis. He also once again threatened retaliation for Ukrainian strikes against the Russian economy, invoking the «Pandora’s box» analogy.
Briefly about the main points
- Putin has denied that a new mobilisation is being prepared in Russia.
- He claimed that the Russian Federation allegedly seeks an end to the war.
- Putin explained why there had been no strikes on the government district.
- Putin has once again threatened to retaliate against attacks on the Russian economy.
Putin described talk of mobilisation as «complete nonsense»
Commenting on reports of a possible new wave of mobilisation in Russia, Putin stated that Moscow is allegedly seeking not to escalate the war, but to bring it to an end.
«That’s complete nonsense. We are committed to ending the war and achieving peace,» he said, in response to a question about mobilisation.
The Kremlin is thus publicly denying preparations for a new mass conscription drive. At the same time, Russia continues to recruit contract soldiers and volunteers into its army and is waging military operations against Ukraine.
Putin explained why Russia is not targeting the government district
The Russian president was asked separately why Moscow was not carrying out strikes directly on the government district in Kyiv.
Putin replied:
«We need some people to sort things out.».
He did not elaborate on this point. It is clear from the context of the statement that Moscow regards the preservation of channels of political engagement as one of the reasons; however, the Russian side did not provide any specific guarantees regarding the security of government buildings.
Putin predicts three financial crises for Ukraine
The Russian President’s statement on the economic situation in Ukraine caused the greatest stir.
According to Putin, the country may allegedly face as many as three crises — a currency crisis, a budgetary crisis and a banking crisis.
«The public will see this,» he said.
However, this is precisely the Russian President’s forecast, rather than an established economic fact.
The Ukrainian government does indeed recognise the significant financial risks. On 1 September, the Prime Minister Sergey Koretsky stated in the Verkhovna Rada that the state could lose access to part of approximately $29.5 billion in expected international funding, unless the government and parliament fulfil commitments agreed with partners. At the same time, the Cabinet of Ministers states that it has a plan in place to tackle these challenges.
Ukraine is also continuing its cooperation programme with the IMF, amounting to $8.1 billion for 2026–2029, which is designed to support macro-financial stability and attract additional external assistance.
In other words, the risks to the budget arising from the war and dependence on external funding remain significant; however, the claim that a simultaneous collapse of the currency, the budget and the banking system is inevitable is not currently supported by official Ukrainian data.
«Open Pandora’s box — and you’ll get what’s inside»
Putin also returned once again to the subject of Ukrainian strikes against Russia’s economic and logistical infrastructure.
«The authorities sensed a threat to their economy: you’ve opened “Pandora’s Box”, so you’ll get what’s coming to you,» he said.
Putin has used similar rhetoric before. In August, he claimed that Ukraine’s strikes on Russian economic targets had allegedly «opened Pandora’s box», after which he threatened to strike at the «most vulnerable sectors» of the Ukrainian economy and its logistics.
Thus, Putin’s latest statements combine a public rejection of the new mobilisation and declarations of a commitment to peace, accompanied by economic forecasts that amount to threats and promises to maintain pressure on Ukraine.
