Commentary
To Russia’s great misfortune, its leader, Vladimir Putin, has overplayed his hand in Ukraine.
What was supposed to be a quick military conquest of Ukraine that would amplify Russia’s military, diplomatic, and economic influence in Europe has become a disaster on all of those fronts.
Windfalls
Even though the skyrocketing price of energy has led to a windfall for Putin, it will likely be only a temporary win. Yes, Moscow has benefitted from high grain prices and has been able to demand that energy be purchased in Russian rubles instead of dollars. But as things stand today, these outcomes will also prove to be short-lived and ultimately detrimental to Russia….
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