Russian elite may depose Putin if oil prices collapse, analyst says
Photo: Russian President Vladimir Putin (Getty Images)
Russia’s elite could remove President Vladimir Putin from power if oil prices drop to a critically low level, stated political strategist Taras Zahorodnii in a commentary to the RBC-Ukraine YouTube channel.
“As long as Putin is in power, he’ll keep acting aggressively to the end. But when oil prices crash, the elites will start talking about getting rid of this lunatic and doing what’s necessary,” the analyst said.
According to him, Russia still needs money to support both its citizens and its regions. Without subsidies, some of them might wonder why they need Russia.
Zahorodnii also believes that the US is well aware of Russia’s true economic condition and is using that to apply pressure. However, Putin continues to act defiantly, convinced that he can win this standoff.
“Look, rail transport is declining there. That means things aren't going so well economically. Even when it comes to transporting military cargo, it’s clearly not all smooth. And then there’s the spending. Their defense and war expenses are higher than those of the Soviet Union. If oil prices fall below $30, that would be a very favorable scenario for us,” he emphasized.
As of the morning of April 7, the fall in global oil prices led to a drop in the price of Russia's flagship Urals crude oil to $50 per barrel.
