Let’s take stock of Russia in January 2025.

Negatives:

• They have the Dutch disease.

• They have lost about 800,000 troops in a war they have already lost.

• They are running out of people to sustain their nation.

• They are running out of people to fight.

• They are running out of military hardware to continue this conflict.

• Russia’s economy is imploding.

• Russia has experienced one of the biggest brain drains in history.

• Russian President Vladimir Putin is becoming less well liked.

• Russia’s civilian infrastructure is Soviet era and mostly failing.

• Russia’s rainy-day (national welfare) fund is running dry.

• Russia is the target of the greatest sanctions regimen in history.

• Russia’s is an international pariah.

Positives:

• Putin has strengthened NATO.

• Putin has united NATO with the Pacific rim.

Pretty bad. Slava Ukraine.

Fair winds and following seas,

Bill Laffen

Umatilla