On the one hand, he needs to maximize his control of the economy and society in order to raise wages and pensions and to keep opponents down, while nourishing the long-tail of patronage that keeps him in power. On the other hand, Moscow’s elite – who fear that their assets may be expropriated by a future government – wants to avoid international pariah status so that they can see out their sun-set years in the safety of the West if the need arises.