Putin on His Knees Before Xi — and Running Out of Money

The Finnish Institute of International Affairs’ senior researcher Jussi Lassila commented on Russian dictator Vladimir Putin’s trip to China, and in doing so, he also summarized his position in world politics remarkably well. He noted that “Putin is on his knees before Xi, which suits China. Xi can present agreements to Russia that greatly benefit China, while Russia is forced to accept deals that are unfavorable to itself.”

At the same time, Lassila reassured ordinary people worried about the growing closeness between China and Russia. He pointed out that “Of course, opposition to the United States remains the common denominator here, but I don’t see any truly unified anti-Western alliance emerging between China and Russia”—and he explained, quite rightly, that “China has benefited enormously from the prevailing global order, which is why its continuity is in its interest.”

Lassila’s comments are both credible and fact-based—and therefore most likely accurate.

Another recent piece of news certainly does nothing to improve Putin’s situation: Russia’s state coffers are beginning to run dry. The liquidity of the National Wealth Fund, calculated in terms of purchasing power parity (PPP), has fallen below 155 billion euros. At the central bank, the state has net reserves of 200 billion euros (PPP). In other words, Russia’s assets are sufficient to cover the budget for only about one year—until August 2026.

In that situation, hard facts will catch up with Putin’s so-called “special operation.” After all, you cannot draw something out of nothing, and waging war is not free. It may, therefore, very well be that the fate of Tsar Nicholas II will begin to haunt the dictator who imagines himself omnipotent—sooner or later.

Previous thoughts on the same topic:
The Free World Needs America’s Leadership Now
Number of Predators is Increasing in Russia
The Price of Xi´s and Putin's Game Is Paid by Ordinary Russians