A global financial crisis would hand Putin the type of Western 'disarray' that experts say he wants to promote to the Russian public.
The banking crisis in the U.S. and Europe gives Russian President Vladimir Putin a narrative to bolster his messaging about the Ukraine war.
Western powers are unlikely to sway from their support for Ukraine, as their positions on the war are not driven by economic factors. "What Putin wants is a narrative of disarray in the U.S. and in Europe, whether that disarray is January 6-style protests, political polarization or economic crisis," Michael Kimmage, who previously held the Russia/Ukraine portfolio on the State Department's policy planning staff, told."He just wants to show there's a Western decline and that the West won't be able to support Ukraine long term.
The Swiss central bank offered Credit Suisse a lifeline on Thursday, fighting off a bank collapse, as the risk of the bank defaulting grew. However, even if Credit Suisse failed, and led to a subsequent economic crisis across Europe, it"would have little impact on Russian banks or the Russian financial system," Gary Hufbauer, a nonresident fellow at the Peterson Institute for International Economics, told.
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