Kathrine Frich
People inside Russia believes she tried to resign
High-stakes jobs come with a lot of pressure, and top officials rarely get a day out of the spotlight.
When a major figure suddenly vanishes from the public eye, people start asking questions. Right now, a very important chair in Moscow sits empty.
Missing in action
Elvira Nabiullina runs the Russian Central Bank. She steers the country through complex economic waters. Yet she has not been seen in public for more than a week.
She skipped the St. Petersburg International Economic Forum in early June. Then she missed a major securities conference.
The most glaring absence happened on June 10. Vladimir Putin held a crucial meeting to discuss inflation and interest rates. Neither Nabiullina nor her deputies showed up, according to the Russian investigative outlet The Agency.
Just a sick day
The official line from Moscow is simple. The Central Bank press office told reporters that their boss was on sick leave.
Kremlin spokesman Dmitry Peskov backed up this claim. During a recent briefing, he tried to calm the growing storm of rumours.
“People sometimes get sick, there’s nothing unusual about it. It shouldn’t be a reason for any conspiracy theories,” Peskov said, according to Meduza.
Yet the nature of her illness remains a mystery. Her next scheduled public appearance is not until early July, leaving plenty of room for speculation.
Growing exit rumours
The disappearance comes at a highly sensitive time. Nabiullina is currently serving her third term as bank governor.
Russian law dictates this must be her final stint, ending in June 2027. Independent outlet The Bell reports that officials are already vetting three potential replacements.
Some observers think she might be trying to leave early. A source told the Telegram channel We Can Explain that she wants to step down.
“She informed the leader about this, diplomatically declined, and is waiting for his response,” the source claimed.
The power she holds
Changing the head of this bank is a massive deal for Russia. The institution controls monetary policy and oversees all financial bodies. The Bell noted the enormous scope of her daily responsibilities.
“It’s more or less as if a single body established traffic regulations, imposed fines, decided on the issuance of driving licenses, and also set the price of gasoline,” the outlet explained.
For years, Nabiullina has relied on Putin’s trust to protect the bank from political interference. If she leaves, her successor will face immense pressure to bend the rules for a struggling economy.
Sources: Meduza, The Agency, The Bell, We Can Explain
