He knew that sanctions would take a big bite, but he MAY have estimated that, by this time, his conquest of UKR territory, with its natural resource riches and its embedded industrial base, would mitigate the collapse and save Russia from hitting bottom. But now, under the best of circumstances, RU still gets nothing from UKR except rusted tanks and body bags. The sanctions keep coming and his tanks are being destroyed wholesale. His rail lines are packed with cadavers and his oligarchs are falling out of windows. Even if RU maintains possession of eastern and southeastern UKR. Ukraine will refuse to give RU a moment's peace until they are out of every square inch of UKR. In the past, there may have been situations in which UKR would concede territory to Putin, but not anymore. Putin won't stop until he has no choice. Any negotiated agreement is worthless. Putin will break every agreement and relentlessly push for more territory until he has no more money to wage war. He is forcing himself to live his own lie. He now knows he's failing and he still won't quit. There are only a few avenues for him to quit. But quitting for Putin means his death. He also knows that. Further, Putin's successor will change Russia's course. Russia needs trade agreements and economic interdependence, and that means conciliatory actions with UKR and the West, including a complete withdrawal from UKR. A successor cannot continue Putin's policies and NOT expect a complete economic collapse.
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