Putin Just Had His Worst Day of the Entire War

Paul J. Warburg 16 min

Russia is caught in a trap where it must continue an expensive war to prevent economic collapse. The strike on the oil terminal was the best return on investment move Ukraine has made.

  • Vladimir Putin

Chapters

  1. 0:00

    The St. Petersburg Strike

    A Ukrainian strike on a major Russian oil terminal occurred just as economic delegates arrived in St. Petersburg.

  2. 1:34

    Internal Russian Desperation

    Senior Russian financial officials are privately telling Putin that military spending must be cut because the country cannot afford it.

  3. 7:31

    The Budget Deficit Trap

    Russia has already blown past its initial budget deficit projection for the year in just the first four months. Russia's Ministry of Defense argues that stopping military spending will cause the entire Russian economy to collapse.

  4. 12:36

    Competitors Taking Advantage

    China and India are demanding massive discounts on Russian oil and gas while other nations arrive at the forum.

Key points

  • 0:27

    A Ukrainian strike destroyed a major oil export terminal in St. Petersburg just as economic delegates arrived.

  • 1:34

    Senior Russian financial officials privately told Putin that the war is too expensive and requires spending cuts.

  • 7:31

    Russia has already exceeded its projected annual budget deficit in just the first four months of the year.

  • 7:31

    The Ministry of Defense claims that stopping military spending will cause the entire Russian economy to collapse.

  • 12:36

    Competitors like China are demanding massive discounts on Russian oil and gas while other nations attend the forum.

Who and where

People · 1

  • Drawing of Vladimir Putin

    Vladimir Putin 16

    President of the Russian Federation

    Photo 1

1. Photo: Пресс-служба Президента России, CC BY 4.0, via Wikimedia Commons · Wikidata · redrawn in our house style (Vladimir Putin)

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