Trump-Putin talks ‘already a win’ for Russia, but its economy is weak
LBS's Richard Portes says the Putin-Trump talks in Alaska are “already a triumph” for Russia
Russian President Vladimir Putin is entering his meeting with U.S. President Donald Trump from a position of early advantage, according to LBS's Professor Richard Portes.
Speaking ahead of the summit - the first time since 2007 that a Russian leader has been invited to meet a U.S. president on American soil - Portes said the optics alone are a “wonderful achievement” for Moscow. “No conditions, no Ukraine, no European representation - that’s already a triumph,” he noted, adding that Putin’s military position is “relatively strong” with recent advances on the battlefield.
But the economic picture tells a different story. “The Russian economy is not in very good shape,” Portes explained. “They’re running a significant fiscal deficit, partly because oil and gas revenues have fallen sharply. This is a weak economy. If Trump had the patience to apply sanctions properly, waiting could significantly shift the balance of forces.”
On whether Washington might tighten the screws, Portes was cautious: “It’s hard to predict what President Trump will do from one day to the next. While the likelihood of more sanctions is significant, given the decision to meet and Trump’s apparent desire for a Nobel Prize, it doesn’t look high right now - but he could change his mind tomorrow.”
The interview can be viewed here