Putin is unable to hold back the tide of Ukraine's victory in 2024

In my blog entry of 24 December 2014 I wrote that,

"Russian President Vladimir Putin has attempted to assuage fears of economic collapse and promised rapid recovery as he faced hundreds of journalists amid the worst financial crisis of his rule." (Aljazeera :  18 Dec 2014)

As he boldly stated,

"Under the most unfavourable world conditions, such a situation can last two years," Putin said days after the Russian rouble fell to record lows, following a 60-percent dive in value since the beginning of the year." (ibid Aljazeera) (my emphasis)

Like the legend surrounding King Canute, Putin is ordering the waves of a disastrous Russian economic downturn to recede but, unfortunately, to no avail. (blog entry 24/12/2014)

In the words of Theodore Dalrymple,

"Political power or office often gives those who possess it the illusion that they control events. That, after all, is the reason why the story of King Canute retains, and will always retain, its relevance to the current political situation." (Wikipedia) (my emphasis)

Fast forward to 2023 and, in the wake of his current war with Ukraine, Putin [Pu-truschev] is, once again, having to learn the lesson of King Canute.

As reported by Jonathan Leake (right),

"With Russian forces stuck in a stalemate on the frontlines in Ukraine, Vladimir Putin is facing a drain on the Kremlin coffers that threaten to sink his war machine.

Russia’s oil and gas revenues have plummeted by 37pc in just one year, according to a new report from the International Energy Agency (IEA).
...
A surge in oil exports from Guyana, Canada, Brazil and, above all, the US, means Opec’s overall market share is steadily reducing. There may be no way back, say analysts." (The Telegraph : 19 January 2024) (my emphasis) 

 

CNBC Television : December 2023 : YouTube

Jonathan Leake further reports that,

"With their power diminishing, Opec+ has been riven with infighting. A November meeting was delayed at the last minute amid reports that African members, who heavily rely on oil revenues day-to-day, were reluctant to agree to Saudi plans to cut their output.

Shortly after, Angola, which had been an Opec member since 2007, quit." (ibid Jonathan Leake )

 As also reported by Giulia Carbonaro (left),
 
"China's state-owned banks are tightening curbs on funding to Russian clients as they fear being subjected to secondary sanctions from the U.S., according to a Tuesday report by Bloomberg.

At least two banks have ordered a review of their Russian businesses in recent weeks and plan to sever ties with clients on the U.S. sanction list. The banks will also stop providing financial services to the Russian military sector, according to sources familiar with the matter, and review companies including non-Russian clients doing business in Russia or sending critical goods to Russia through a third country." (Newsweek : 16 January 2024) (my emphasis) 

 Newsweek : 16 January 2024

On the military front things also seem to be going South for Putin [Pu-truschev].

As reported by Nathan Rennolds,

"Russian marines and paratroopers are refusing to launch certain types of assaults due to concerns over the huge losses other troops are suffering, a Ukrainian official said, the Kyiv Post reported.

 Nataliya Humenyuk, a press secretary for the Armed Forces of Ukraine's
Joint Command South, said that the soldiers considered "themselves 'elite    troops' " and did not "want to go into frontal assaults" that former felons and reservists typically carry out, the outlet reported." (Business Insider : 20 January 2024) (my emphasis)

It is not only his 'elite' troops that Putin [Pu-truschev] has to worry about.

As also reported by Chris Panella,

"A newly released photo shows the Ukrainian crew and the US-made Bradley infantry fighting vehicle that fought and won against one of Russia's top tanks.

The photo comes on the heels of a viral video earlier this week depicting an intense battle between a Bradley and a Russian T-90M, a heavily armored tank Russian President Vladimir Putin once bragged was "the world's best."

The Defense Ministry of Ukraine shared on Friday the photo, which came courtesy of the 47th Mechanized Brigade, of the Ukrainian M2A2 Bradley IFV crew responsible for defeating the Russian T-90M on the battlefield." (Business Insider : 19 January 2024) (my emphasis)

Metro : Microsoft Start : 20 January 2024

More disconcerting for Putin [Pu-truschev], just today Maxim Rodionov and Lidia Kelly report that,

"A fire at a terminal of Russia's largest liquefied natural gas producer Novatek (NVTK.MM) on the Baltic Sea was caused by two explosions, the state RIA news agency reported on Sunday, citing local officials.

The agency said that the fire has since been contained to a 100-cubic-metre fuel depot." (Reuters : 21 January 2024) (my emphasis)

 This follows on from a report by  Paul Kirby (right) that,

"Fire has broken out over a large area of an oil storage depot in southern Russia after officials say it was hit by a Ukrainian drone.

Russian media say four oil tanks caught alight and the fire then spread over an area of 1,000 sq m (10,763sq ft).

Russian authorities in the Bryansk region say no-one was hurt.

The Bryansk governor said the drone was intercepted near the town of Klintsy and its explosives then fell on the oil depot.

The drone strike is the second on Russian oil facilities in two days.

An unprecedented attack targeted a major oil loading terminal in Russia's second city, St Petersburg, on Thursday." (BBC News : 20 January 2024) (my emphasis)

And just in, Oliver Slow (left) reports that,

"An explosion has occurred at a gas export terminal near the city of St Petersburg in Russia, officials say.

The blast caused a large fire, state-owned RIA Novosti news agency said. It said the fire had been contained, and there were no reports of injuries.

The cause of the fire is not known, but local media have reported that drones had been seen in the area." (BBC News : 21 January 2024) (my emphasis)

BBC News : 21 January 2024

Putin [Pu-truschev] has now been forced into the arms of Kim Jon Un to supply him with yet more North Korean armaments as he suffers from the critical onslaught of the Ukrainian army, and his economy decidedly points South in the coming year.

As reported by Hyunsu Yim (left),

"Russian President Vladimir Putin expressed his willingness to
visit Pyongyang soon when he met with North Korean Foreign Minister Choe Son Hui in Russia last week, North Korea’s state news agency KCNA reported on Sunday.

Putin also thanked North Korean leader Kim Jong Un for his invitation to visit, KCNA said, citing North Korea’s foreign minister’s assistant office.

It would be the Russian leader’s first trip to North Korea in more than two decades." (Reuters : 21 January 2024) (my emphasis) 

Like King Canute, Putin [Pu-truschev's] is unable to hold back the tide of a Ukrainian victory in 2024.

 

(to be continued)