Putin Acknowledges Slowing Growth, Blames 'External Pressure' and Ukrainian Strikes

Chairing a meeting of the Council for Strategic Development and National Projects in Moscow, Putin said Russia's economic dynamics were 'modest but positive,' with GDP growth at around 1% (0.6% in H1 2026, 1.3% in Q2). He attributed the slowdown to 'external pressure' and 'terrorist attacks' on industrial and infrastructure facilities — Kremlin language for Ukraine's long-range strike campaign — while insisting the damage had not had 'critical consequences.' Putin called for a new investment cycle after export-oriented megaprojects in chemicals, metallurgy, and petrochemicals passed their peak investment phase.