Vladimir Putin has decided to run in the upcoming presidential election in March 2024, according to sources close to the Kremlin. This move will keep him in power until at least 2030, as Putin, who has been in office since 1999, feels the need to steer Russia through its most perilous period in decades.
Putin, now 71 years old, has already served as president for longer than any other Russian ruler since Josef Stalin. Opinion polls show that he enjoys consistently high approval ratings of 80% within Russia, making his election a formality if he runs. The state, state media, and practically no mainstream public dissent will support him, ensuring his victory.
As Putin faces the most serious set of challenges any Kremlin chief has faced since Mikhail Gorbachev, he is seen as determined to tighten his grip on power. The war in Ukraine has triggered the biggest confrontation with the West since the 1962 Cuban Missile Crisis, while Western sanctions have delivered the biggest external shock to the Russian economy in decades.
Vladimir Putin (Via Vladimir Putin/Twitter)
The Kremlin believes the war is part of a broader struggle with the United States, which aims to cleave Russia apart, grab its vast natural resources, and settle scores with China. Russia is facing the combined might of the West, and major change would not be advantageous, according to sources. Despite the challenges, the Russian economy is expected to grow faster this year than the European Union, and the price of Urals crude oil has averaged $81.52 per barrel in October.
However, some Russians, including jailed opposition politician Alexei Navalny, see the war as a strategic dead end that will ultimately bequeath chaos rather than stability. Navalny believes Putin has led Russia down a path of ruin, building a brittle system of corrupt sycophants.
The war has also highlighted the faultlines of post-Soviet Russia, with many asking whether the country is going backwards. The announcement of Putin’s candidacy is expected to come soon, and his advisers are preparing for the campaign.
