BBC News - Vladimir Putin says ‘victory is nearer’ in Ukraine | BBC News
During Vladimir Putin's annual news conference, he addressed various pressing issues, including Russia's economic challenges and military operations. Putin acknowledged the rising inflation rate, now at 9%, largely due to sanctions and increased military spending. Basic food prices, like potatoes, have surged by nearly 80% over the year. Interest rates have also soared to 21%, with potential increases to 23%, indicating significant economic pressure. Despite these challenges, Putin maintains that Russia is moving away from a loss of sovereignty and remains optimistic about its geopolitical stance. However, experts like Katherine Belton highlight the risks Putin faces, particularly if Western aid to Ukraine continues. The economic strain, coupled with battlefield losses, could destabilize Putin's position if the West sustains its support for Ukraine. Additionally, internal pressures and elite infighting add to the uncertainty of Russia's future stability.
Key Points:
- Putin acknowledged rising inflation at 9% and soaring food prices, with potatoes up 80%.
- Interest rates are at 21%, potentially rising to 23%, indicating economic strain.
- Military spending is at record levels, with $1226 billion allocated for defense next year.
- Putin faces risks if Western aid to Ukraine continues, potentially destabilizing his position.
- Internal elite infighting and economic pressures could threaten Russia's stability.