Russian President Vladimir Putin is reportedly worried about the state of his country’s economy as President Donald Trump returns to the Oval Office. According to a Reuters report citing five sources, Trump’s push to end the war in Ukraine is only adding to Putin’s concerns.

Throughout his campaign, Trump pushed to end world conflicts, including the Russia-Ukraine war, which began with Putin’s 2022 invasion.

“I really do have a lot of confidence in his [Trump’s] ability to actually get to a position where this war is actually over,” Lt. Gen. Keith Kellogg, Trump’s pick for envoy to Ukraine and Russia, told “America Reports.”

Russian President Vladimir Putin, left, and President Donald Trump. (Contributor/Rebecca Noble/Getty Images)

Russia’s economy has thrived despite international sanctions due to its oil, gas and mineral exports, but, according to Reuters, labor shortages and high interest rates have put strain on the economy. These challenges have allegedly led Russia’s elite to see a negotiated settlement with Ukraine as prudent, Reuters reported, citing two sources.

“There are problems, but unfortunately, problems are now the companions of almost all countries of the world,” Kremlin spokesman Dmitry Peskov told Reuters. “The situation is assessed as stable, and there is a margin of safety.”

In the same conversation with Reuters, Peskov reportedly acknowledged “problematic factors” in Russia’s economy, but said it was able to meet “all military requirements incrementally.”

Members of Ukraine’s Territorial Defense Forces, volunteer military units of the Armed Forces, train in a city park in Kyiv, Ukraine. (AP/Efrem Lukatsky)

Putin has made major foreign policy moves in preparation for the possible consequences of Trump’s return, including fortifying ties with Iran and China. On Tuesday, less than a day after Trump entered office, Putin and Chinese President Xi Jinping pledged to “deepen strategic coordination.”

Recently, Russia and Iran signed a partnership pact, which caused concern with the U.S. and its allies. Russian Foreign Minister Sergei Lavrov claimed the treaty was “not directed against anyone,” comparing it to the country’s 2024 agreement with North Korea.