Question at 2018 press conference: do you think that a restoration of socialism is possible in Russia?

Vladimir Putin: I think this is impossible. I believe that the deep changes that have taken place in our society make restoring socialism in the sense you mean impossible. There can be social elements in the economy and the social sector, but expenses will always exceed profits, and as a result, the economy would be at a dead end.

(…Возможны элементы социализации экономики, социальной сферы, но это всегда связано с расходами больше доходов, и, в конечном итоге, с тупиком в экономике.)

(My emphasis. Note that he called communism a road to a dead end in 1999.)

Putin annual press conference, 20 December 2018.