It is rare for a top Russian official publicly to challenge the Kremlin, so when two do so on the same day it is worth taking notice.

Anatoly Chubais, head of the state-run UES electricity giant, this week warned a conference that Russia’s assertive foreign policy risked harming the investment climate. Alexei Kudrin, finance minister, told the same meeting: “We need to adjust our foreign policy goals to guarantee stable investment.”