0856GMT//Putin says US-Russia Ukraine deal "lays foundation" for peace; Russian regions run out of cash; street musicians released
UKRAINE PEACE PLAN: Vladimir Putin said on Friday that a plan to end the war in Ukraine drawn up by US and Russian negotiators earlier this month could "lay the foundation" for a Ukraine peace deal. He also threatened to capture more Ukrainian territory if Ukraine refused to sign the 28-point plan that hands swathes of land to Russia. (COMMENT>> This is the Kremlin continuing with its aggressive response to a peace plan that, frankly, more than favours Russia. Earlier, last week Putin posed in military uniform with his top generals underneath a banner that read "Those who fight, win". The messaging is clear. The Kremlin, despite economic problems and sanctions, is prepared to fight on in Ukraine.)
PUTIN POPULARITY: Russian polling unit the Public Opinion Foundation, which is considered loyal to the Kremlin, said that Vladimir Putin's approval rating has fallen to its lowest since the start of his war in Ukraine. It said that his approval rating was now 46%, mainly because of Russians' increasing economic woes. (COMMENT>> This is important as the Public Opinion Foundation is considered to publish relatively favourable polls for Putin and the Kremlin.)
REGIONS RUNNING OUT OF CASH: Two Russian regions have said that they don't have enough cash to pay handouts and bonuses to new recruits and to the families of dead soldiers. Khakassia, in southern Siberia, said that it can't pay families compensation for men killed in the war. Yakutia, in Russia's Far East, said that it doesn't have enough cash to pay signing-on bonuses, which have been so important for attracting recruits. (COMMENT>> This is not just another insight into Russia's economic malaise; this is an indication of just how tough it's getting. This is the first time that Russian regions have reported running out of cash to pay soldiers and the grieving families' compensation for men killed in the war. Yakutia's officials have promised that the missing cash will be found soon, but this is an indication that Russia's war machine also has a limit.)
STREET MUSICIANS RELEASED: Diana Loginova and her fiancé, Alexander Orlov, the two Russian street musicians arrested in St Petersburg in October last month for singing a banned song, were released by the Russian authorities on Sunday. They immediately left the country. Media did not report which country they had fled to. (COMMENT>> The two singers were arrested three consecutive times on what their supporters described as a fabricated "prison carousel" that could keep them locked up for as long as it wanted. Their case triggered rare protests from other street artists in Russia, online and by single performers.)
CASH RISES: The volume of cash in circulation in Russia rose by 500% in July-September this year compared to the same period in 2024, according to the pro-Kremlin newspaper Izvestia. It said that 659b roubles ($8.4b) were in circulation in this period. (COMMENT>> The increase has been explained by internet outages and the increasingly unstable economic scenario in Russia. The authorities in regions across Russia have been cutting the internet to try to reduce the impact of Ukrainian drone strikes.)
KREMLIN PUSHING DRUGS AND MIGRANTS TO EUROPE: The head of Sweden's military has said Russia is pursuing a "hybrid war" against Europe through migrants and drug-running. Lieutenant General Michael Claesson told the FT that the number of migrants arriving in Europe from North Africa this year has increased by 50%, mainly through routes run by Russian agents from Libya and Algeria. (COMMENT>> This is a reminder of the tools that the Kremlin is prepared to use to push its hybrid warfare doctrine.)