Komarov nodded and the President switched his laser-like stare to the Finance Minister, “You next, please.”

From his position at the end of the table Komarov saw the sweat on the back of the minister’s bald head. He cleared his throat and swallowed hard. “Vladimir Vladimirovich, it pains me to tell you that the economic position is getting increasingly difficult. American and EU sanctions continue to have a deeply negative effect on the economy—”

The President interrupted, “These are old excuses, Boris Mikhailovich. EU sanctions have been toothless since the Italians, Greeks, Hungarians and Cypriots vetoed them at the EU Summit last June. The EU remains deeply divided.” He smirked, and then added, “My strategy of increasing the flow of refugees into Turkey by bombing civilian targets in Syria and so putting ever greater pressure on the EU has worked better than I ever thought possible.”

“Of course, Vladimir Vladimirovich,” continued the Finance Minister. “Nevertheless, the price of oil remains a problem. You will remember that my budget was based on a price of one hundred dollars per barrel, but the price has been consistently lower than that. There’s a glut of oil on the market following the easing in sanctions against Iran after the nuclear negotiations in Lausanne two years ago. Iranian oil is pushing prices even lower. That means we are losing around forty billion dollars a year because of sanctions and around ninety to one hundred billion dollars a year because of the low oil price. On top of that, the increase in defense spending has put a huge strain on the budget.”

The minister removed his spectacles, polished them with a white handkerchief and summoned up his resolve. “Vladimir Vladimirovich, there is no other way to describe the economic situation than very difficult.”

“What are my economic options?” demanded the President.

“In economic terms it is simple. Unless the price of oil goes back up, which no economist believes it will in the near future, we either have to cut spending or raise taxes to keep the deficit down to our projected zero-point-six percent of GDP. And if we don’t do that, we have no option but to borrow at increasingly expensive rates, which will only make the situation worse. The ruble is losing value. The forecast for growth from the Central Bank is zero and GDP is static at best.”

The President reflected silently and looked at Komarov with a raised eyebrow.

This was a moment the two men had rehearsed the day before. “I suggest we ask the Interior Minister, Vladimir Vladimirovich,” Komarov responded. “The economic picture is important, but it is the impact on your popularity which remains the key.”