He supported Russia's 2022 invasion of Ukraine. After Russia's annexation of Crimea, Babkin said to a crowd at a rally, "We should not stop at Crimea!"

He is the president of CJSC Novoe Sodruzhestvo and the president Rosspetsmash association. Member of the board of directors of Rostselmash, Empils and formerly Buhler Industries. Chairman of the board of the Chamber of Commerce and Industry of the Russian Federation on Industrial Development and Competitiveness of the Russian Economy.

The main shareholders of Novoe Sodruzhestvo are its three founders and managing directors: Babkin, Dmitry Udras and Yuri Ryazanov.

In conjunction with Dmitry Udras and Yuri Ryazanov withdrew Empils (1998) and Rostselmash (2000) plants from the crisis of the 1990-s.