By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > Markets > Commodities > Analysis-Presumed death of Prigozhin removes one problem, may create new ones for Putin
Commodities

Analysis-Presumed death of Prigozhin removes one problem, may create new ones for Putin

News Room
Last updated: 2023/08/24 at 12:17 PM
By News Room
Share
7 Min Read
SHARE

By Mark Trevelyan

LONDON (Reuters) – The presumed death of mercenary leader Yevgeny Prigozhin in a fiery plane crash leaves Russian President Vladimir Putin stronger in the short term, removing a powerful figure who had defied his authority and threatened to make him look weak.

But it would also deprive him of a forceful and astute player who had proved his utility to the Kremlin by sending his fighters into some of the bloodiest battles of the Ukraine war and advancing Russian interests across Africa.

Russian air authorities have said Prigozhin, his right-hand man Dmitry Utkin and eight other people were on a private plane that crashed with no survivors north of Moscow on Wednesday, though neither the Kremlin nor the defence ministry have confirmed his demise. It is not yet clear what caused it to drop from the sky.

No evidence has emerged to support the widespread belief that Prigozhin was killed as an act of vengeance for staging a mutiny in late June – an assumption that analysts said may actually suit Putin’s purpose.

“Whatever the reasons for the plane crash, everyone will see it as an act of retribution and reprisal, and the Kremlin will not particularly interfere with this,” Tatiana Stanovaya, founder of the R.Politik consultancy, said.

“From the point of view of Putin, as well as many among the security forces and the military, Prigozhin’s death should be a lesson to any potential followers.”

The Kremlin has remained silent on the crash and its cause, with Putin pressing ahead with business as usual by attending a World War Two commemoration late on Wednesday and addressing a BRICS summit by video link on Thursday.

WRONG ASSUMPTION

The crash came two months to the day after Prigozhin and his Wagner mercenaries staged a mutiny in which they took control of a southern city and advanced towards Moscow, shooting down a number of Russian air force planes and killing their pilots.

Putin, who has spoken in the past of his hatred of traitors, described it as a “stab in the back”.

Since the mutiny, Prigozhin had halted a running feud with the defence establishment but otherwise continued his operations, appearing to move freely in and out of Russia despite a deal with the Kremlin under which he was meant to leave for Belarus.

Abbas Gallyamov, a former Kremlin speechwriter now designated a “foreign agent” by Russia, said Prigozhin had wrongly assumed he was indispensable to Putin because of the scale and importance of his activities.

These included extensive operations in Africa, where Wagner has expanded its mercenary services in countries such as Mali and the Central African Republic in exchange for gold- and diamond-mining concessions.

While portraying it as a purely private commercial operation, the Kremlin has used Wagner to expand Russian influence on the continent in competition with Western powers such as France and the United States.

Prigozhin “assumed that Putin would not want to risk all this”, Gallyamov said. “(He) underestimated how important it was for Putin to send a signal to all potential rebels: guys, don’t think you can do this and then remain alive.”

‘GAME OF THRONES’

But the death of Prigozhin, if confirmed, is not without cost to Putin.

Analysts said it opens up the prospect of a messy struggle for control of Wagner’s huge business empire, and a possible split between pragmatists willing to integrate with the defence ministry and an aggrieved ultranationalist faction which is already venting its anger on social media channels.

“I think it’s possible that in many ways it will become kind of a headless ‘Game of Thrones’ or ‘Sopranos’ type of environment where we have competing smaller factions and smaller splinters of Wagner,” said Andrew Borene, executive director of threat intelligence firm Flashpoint and a former U.S. intelligence official.

“In the long-term I think it’s a strategic loss (to Russia),” he said.

Samuel Ramani, an analyst at London’s RUSI think-tank and author of the book “Russia in Africa” said the loss of Prigozhin’s extensive network would be a downside for Putin.

“He loses many of the personal contacts that Prigozhin has managed to cultivate on that continent, including the kind of contacts that would be necessary to export gold and diamonds out of sanctioned countries such as Mali and the Central African Republic,” Ramani said in a telephone interview.

The plane crash happened on the same day that Russian state media reported the removal of Sergei Surovikin, the former commander of Russia’s war effort in Ukraine, as head of the Russian air force. Widespread but unconfirmed reports said Surovikin had been placed under investigation for possible complicity in Prigozhin’s mutiny.

The downfall of both men – widely seen as two of Russia’s most effective operators in a war where it has seen many embarrassing failures – could hamper Moscow’s ability to mount sustainable offensive operations in the next year, Ramani said.

If Putin was responsible for Prigozhin’s death, he said, it demonstrated he was willing to engage in brutal repression of any kind of dissent.

“But it also shows a vulnerability too because he needs to use force now to repress these ultranationalists who he previously was able to co-opt and pacify by including them in his coalition. And that doesn’t speak well to Putin’s sustainability beyond 2024.”

Read the full article here

News Room August 24, 2023 August 24, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Nvidia’s big $4 trillion milestone: Why some say the stock could go even higher

Watch full video on YouTube

Why 3D printed houses are on the rise

Watch full video on YouTube

Elon Musk wants to launch a new political party. Here’s why some people think it won’t work.

Watch full video on YouTube

Why Even High Earners Are Living Paycheck To Paycheck

Watch full video on YouTube

Bank of America: Higher Yielding Preferred Stock Is Still Attractive (NYSE:BAC)

This article was written byFollowThe Investment Doctor is a financial writer, highlighting…

- Advertisement -
Ad imageAd image

You Might Also Like

Commodities

Russia mulls extra tax for some commodities exports, including metals – sources

By News Room
Commodities

Gold prices tumble as Fed talks higher rates

By News Room
Commodities

Crude oil prices endure downturn amid U.S. interest rate hike anticipation

By News Room
Commodities

China approves export licences for chip materials gallium, germanium

By News Room
Commodities

European energy crisis: ECB, IEA and EIB to strategize on systematic transition amid soaring prices

By News Room
Commodities

Federal Reserve interest rate signals prompt oil price dip

By News Room
Commodities

Oil prices inch closer to $100 per barrel amid inflation concerns

By News Room
Commodities

Brent Crude Prices May Hit $120 per Barrel, Warns JPMorgan

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?