The oligarchs who control much of the Russian economy don’t have any confidence in the regime. They send their children and money abroad. That is what makes the economy so weak. Even with oil over $100 a barrel, which is the minimum Russia needs to balance its budget, it is not growing. Putin turned aggressive out of weakness. He is acting in self-defense. He has no scruples, he can be ruthless, but he is a judo expert, not a sadist—so the economic weakness and the aggressive behavior are entirely self-consistent.
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