Foreign Policy

Russian President Vladimir Putin
A Russian ruble coin is pictured in front of the Kremlin in Moscow on September 12, 2025. (Getty Images)
Caption
A Russian ruble coin is pictured in front of the Kremlin in Moscow on September 12, 2025. (Getty Images)
Podcast
nate_sibley
nate_sibley
Nate Sibley
Former Fellow and Director, Kleptocracy Initiative
Nate Sibley
A protester flashes victory signs as traffic slows during demonstrations in Hamedan, Iran, on January 1, 2026. The demonstrations erupted after shopkeepers in Tehran’s Grand Bazaar shut their businesses to protest the sharp fall of Iran’s currency and worsening economic conditions. (Getty Images)
Caption
A protester flashes victory signs as traffic slows during demonstrations in Hamedan, Iran, on January 1, 2026. The demonstrations erupted after shopkeepers in Tehran’s Grand Bazaar shut their businesses to protest the sharp fall of Iran’s currency and worsening economic conditions. (Getty Images)
Commentary
michael_doran
michael_doran
Senior Fellow and Director, Center for Peace and Security in the Middle East
Michael Doran
8 Min Read