As Putin escalates war, some in Russia’s business elite despair

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As Putin escalates war, some in Russia’s business elite despair
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As Putin escalates the war in Ukraine, some Russian officials and businessmen have questions about how many missiles Russia has left and how long it can sustain a bombing campaign.

“No one is happy with the status quo,” the Russian state official said. “It is clear that a military or political victory will not be possible. But a loss is not possible either. This is turning into the situation in chess known as zugzwang, when each step is worse than the next and yet it is impossible not to move.”

The forced mobilization has already dealt a blow to Putin’s popularity, one of the main bases for his legitimacy as president, and when the dead bodies of reservists begin to return from the front, the situation could worsen, the Moscow businessman said.“In several months, there will be a very negative dynamic in Russia: a worsening of the mood in society,” he said. “Everything depends on the front.

Economists and business executives say sanctions are beginning to hit the Russian economy harder, with budget cuts already being imposed — while a proposed price cap to beon Russian oil sales from December would be a further blow. The Russian president “will run low on cash … He needs cash to pay Iran and North Korea for weapons. But we will see in December a completely new reality,” said Sergei Guriev, the provost at the Sciences Po university in Paris.

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