What Will It Take to Maintain Putin’s High?

Vladimir Putin’s land grab in Ukraine hasn’t been simply about uniting ethnic Russians; just as with the 2008 Georgia invasion, it has also been about the economy. Too many Western diplomats and policymakers—especially those who do not regularly follow Russia—are behind the curve with regard to Russian perceptions of Putin. True, Putin won plaudits for picking Russia up by its bootstraps in the wake of Boris Yeltsin’s terms, but much of his economic success was less than met the eye and due more to the steep rise in oil prices. As oil has leveled off, the Russian economy has stagnated.

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What Will It Take to Maintain Putin’s High?

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