The latest round of diplomacy on Ukraine sheds light on Russian President Vladimir Putin's mood and intentions.
It is clear that he is not ready to sign a peace deal, at least for now. A Kremlin foreign policy aide, Yuri Ushakov, noted that 'no compromise version has yet been found' after talks in Moscow involving U.S. officials.
This lack of compromise comes as no surprise, given Putin's recent harsh rhetoric against the Ukrainian leadership, which he described as a 'thieving junta.' He has also accused European leaders of undermining peace efforts and insisted that Russia maintains the initiative on the battlefield.
Recent visuals of Putin in military fatigues, analyzing maps of the front lines, reinforce his portrayal of military success—claims that Ukraine and international observers contest.
Despite nearly four years of full-scale invasion, with significant Russian casualties and economic repercussions, Putin seems convinced of his military prospects, believing it is not the time to halt aggression.
He presents a narrative that projects an air of invincibility, hoping to convince the West of his unwavering resolve. As one observer noted, Putin resembles a vehicle barreling down a motorway without brakes or the ability to change course.
However, sustaining a military operation requires ample funding. The Russian government, despite ongoing international sanctions, has so far managed to finance its military endeavors. Yet, economic strains, evidenced by declining oil revenues and an increasing budget deficit, present a growing challenge.
Putin himself has acknowledged economic issues, referring to 'imbalances' affecting production outputs.
The critical question emerges: at what point might these economic realities impact Kremlin strategies on the battlefield?
