Putin led Russia's economy to collapse, only a matter of time: a prognosis was voiced

Oleksandr LytvynBusiness
Russia is running a budget deficit, but more and more money from the treasury is going to war
Russia is running a budget deficit, but more and more money from the treasury is going to war

Russian President Vladimir Putin "fell into a trap". He lost his main market for energy resources and effectively returned his country to "dark times". The aggressor's economy is collapsing, the only question is timing.

As energy expert Ken Silverstein writes in his piece for The Telegraph, Putin didn't think Western nations had the courage, will, or treasury to defend Ukraine. "But under President Biden, the free world didn't just stick together and defend freedom. He accelerated the transition to renewable energy. Europe aims to cut greenhouse gas emissions in half by 2030 and become carbon neutral by 2050, while the United States wants to become carbon neutral by 2050," the publication said.

Putin has fallen into the time trap of trying to recreate the Soviet Union and relive its "glory days. But now freedom reigns, and the countries that were once under Russia's thumb will never soften. As a result, Russia's 30-year romance with the West has ended -- a relationship that gave it access to new energy markets and advanced technology.

"We are accelerating the use of renewable energy and diversifying our energy supply because Putin has turned energy into a weapon," said Frans Timmermans, first vice president of the European Commission. "Our energy sovereignty cannot be found in fossil fuels, but in renewable energy. This transition is happening faster than ever before."

Note, it was previously reported that gas supplies from Russia to Europe have reached a historic low. Another pipeline - "Turkish Stream" - has been stopped. Now the blue fuel is delivered only via Ukraine.

As OBOZREVATEL reported earlier, Hungary promised not to refuse gas from Russia . At the same time, the government of Viktor Orban is already looking for new suppliers of blue fuel.

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