Speaking to CNBC’s Steve Sedgwick at the Ambrosetti Forum in Italy, Guriev said it was extremely difficult to predict what might happen when Putin is eventually replaced as president. “So, probably initially it will be some kind of ultra-nationalist guy or military junta, but it will not last for long exactly because the system is built around Putin. And eventually, I think the system will collapse,” Guriev said. “It could be months, it could be several years, it could be North Korea on steroids, who knows? But it could also be a situation where the system collapses and somebody who...