Russian President Vladimir Putin used to seem invincible. Today, he and his regime look enervated, confused, and desperate. Increasingly, both Russian and Western commentators suggest that Russia may be on the verge of deep instability, possibly even collapse.
This perceptual shift is unsurprising. Last year, Russia was basking in the glow of its annexation of Crimea and aggression in the Donbas. The economy, although stagnant, seemed stable. Putin was running circles around Western policymakers and domestic critics. His popularity was sky-high. Now it is only his popularity that remains; everything else has turned for the worse. Crimea and the Donbas are economic hellholes and huge drains on Russian resources. The war with Ukraine has stalemated. Energy prices are collapsing, and the Russian economy is in recession. Putin’s punitive economic measures against Ukraine, Turkey, and the West have only harmed the Russian economy further. Meanwhile, the country’s intervention in Syria is poised to become a quagmire.
Things are probably much worse for Russia than this cursory survey of negative trends suggests. The country is weathering three crises brought about by Putin’s rule—and Russia’s foreign-policy misadventures in Ukraine and Syria are only exacerbating them.
First, the Russian
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