Putin's Calculated Risk: Can Russia Survive Its Own Aggression?
Vladimir Putin has long been known for his mercurial nature, and his decision to reject Donald Trump's proposed peace deal last week only serves to reinforce this reputation. The offer on the table would have effectively rewarded Russia's aggression in Ukraine by handing over significant chunks of Ukrainian land, compromising Kyiv's independence, and weakening its defenses against future attacks.
Instead, Putin has chosen to continue his disastrous war effort, fueled by neo-imperial fantasies and a desperate desire to cling to legacy power. The consequences are dire: Russia's economy is on the brink of collapse, with oil and gas revenues plummeting 27% year-on-year and inflation soaring to 8%. The budget deficit is rising, and foreign investment has all but dried up.
The war effort itself is also proving costly for Putin, with Ukraine continuing to target energy facilities deep within Russia, causing panic and fuel shortages. The Kremlin's two energy giants, Rosneft and Lukoil, are reeling as Asian buyers rush to avoid US sanctions, further exacerbating the economic crisis.
In a striking reversal of fortunes, Syria – once a prized Middle Eastern ally – has turned to the West and Iran under US and Israeli attack. Venezuela, too, looks set to lose its last remaining ally in Russia. China has turned on Putin, relegating him to the role of dependent junior partner, while India, under pressure from the US, has begun to boycott Russian oil.
The reality on the battlefield is stark: despite boasting surprise advantages in manpower and materiel, Putin's invasion of Ukraine remains a disastrous failure. Over 280,000 Russians have been killed or injured since the beginning of the conflict, with morale among infantry volunteers – already among the most impoverished and vulnerable segments of society – reaching rock-bottom levels.
As Russia teeters on the brink of economic collapse, one question looms large: how much longer will Putin's regime tolerate the catastrophic human cost of its aggression? With Putin's war effort showing no signs of abating, the Russian people must confront the grim reality that their mass-murderer dictator-president is increasingly isolated and out of touch with the devastation he has wrought.
The Kremlin's response to these growing pains is predictably brutal: crushing public and online dissent, silencing any voices critical of Putin's war effort. But for how long can this charade continue? As one Russian expert noted, military spending may temporarily mask decades of neglect and poverty, but when the fighting finally stops, a "vast social crisis" will ensue – and Putin's regime is deeply afraid of it.
The latest report from the London School of Economics (LSE) paints a dire picture: while the war has temporarily boosted incomes for 20% of Russians, real incomes have fallen by as much as 42% for the majority. The experts warn that deteriorating economic conditions could intensify "intra-elite and intra-regime" tensions within Putin's own inner circle.
As the situation spirals out of control, one thing is clear: Trump's Ukraine strategy has been an unmitigated disaster. His willingness to appease Russia at the expense of Ukraine has only served to empower Putin, while undermining European unity and emboldening authoritarian regimes across the globe.
It is time for Europe – and Nato – to act. The US must butt out before it does more damage, while Europe must step up with decisive action: reparation loans using seized Russian assets, fully enforced energy sanctions, tougher kinetic responses to sabotage and cyber-attacks, and a united determination to bring an end to Putin's age of terror.
In the end, Russia may be too big to fail – but its people are not. As the country careens towards economic collapse, it is only a matter of time before the same eternal Russia that Putin purports to represent turns on him – and spits him out like the tsars and totalitarians of old.
Vladimir Putin has long been known for his mercurial nature, and his decision to reject Donald Trump's proposed peace deal last week only serves to reinforce this reputation. The offer on the table would have effectively rewarded Russia's aggression in Ukraine by handing over significant chunks of Ukrainian land, compromising Kyiv's independence, and weakening its defenses against future attacks.
Instead, Putin has chosen to continue his disastrous war effort, fueled by neo-imperial fantasies and a desperate desire to cling to legacy power. The consequences are dire: Russia's economy is on the brink of collapse, with oil and gas revenues plummeting 27% year-on-year and inflation soaring to 8%. The budget deficit is rising, and foreign investment has all but dried up.
The war effort itself is also proving costly for Putin, with Ukraine continuing to target energy facilities deep within Russia, causing panic and fuel shortages. The Kremlin's two energy giants, Rosneft and Lukoil, are reeling as Asian buyers rush to avoid US sanctions, further exacerbating the economic crisis.
In a striking reversal of fortunes, Syria – once a prized Middle Eastern ally – has turned to the West and Iran under US and Israeli attack. Venezuela, too, looks set to lose its last remaining ally in Russia. China has turned on Putin, relegating him to the role of dependent junior partner, while India, under pressure from the US, has begun to boycott Russian oil.
The reality on the battlefield is stark: despite boasting surprise advantages in manpower and materiel, Putin's invasion of Ukraine remains a disastrous failure. Over 280,000 Russians have been killed or injured since the beginning of the conflict, with morale among infantry volunteers – already among the most impoverished and vulnerable segments of society – reaching rock-bottom levels.
As Russia teeters on the brink of economic collapse, one question looms large: how much longer will Putin's regime tolerate the catastrophic human cost of its aggression? With Putin's war effort showing no signs of abating, the Russian people must confront the grim reality that their mass-murderer dictator-president is increasingly isolated and out of touch with the devastation he has wrought.
The Kremlin's response to these growing pains is predictably brutal: crushing public and online dissent, silencing any voices critical of Putin's war effort. But for how long can this charade continue? As one Russian expert noted, military spending may temporarily mask decades of neglect and poverty, but when the fighting finally stops, a "vast social crisis" will ensue – and Putin's regime is deeply afraid of it.
The latest report from the London School of Economics (LSE) paints a dire picture: while the war has temporarily boosted incomes for 20% of Russians, real incomes have fallen by as much as 42% for the majority. The experts warn that deteriorating economic conditions could intensify "intra-elite and intra-regime" tensions within Putin's own inner circle.
As the situation spirals out of control, one thing is clear: Trump's Ukraine strategy has been an unmitigated disaster. His willingness to appease Russia at the expense of Ukraine has only served to empower Putin, while undermining European unity and emboldening authoritarian regimes across the globe.
It is time for Europe – and Nato – to act. The US must butt out before it does more damage, while Europe must step up with decisive action: reparation loans using seized Russian assets, fully enforced energy sanctions, tougher kinetic responses to sabotage and cyber-attacks, and a united determination to bring an end to Putin's age of terror.
In the end, Russia may be too big to fail – but its people are not. As the country careens towards economic collapse, it is only a matter of time before the same eternal Russia that Putin purports to represent turns on him – and spits him out like the tsars and totalitarians of old.