Putin is in turmoil as Russia ‘going bankrupt very soon’ thanks to invasion of Ukraine | World | News

The Russian war in Ukraine has reached its 108th day. The reality of the Russian aggression has been seen in the city of Mariupol, where 1300 high-rises have been demolished. So says Vadym Boichenko, mayor of the city. He said cholera and other deadly diseases could lead to thousands more deaths in the city in southern Ukraine. Although Ukraine has been hard hit by the fighting, it looks like Russian President Vladimir Putin could face a crisis at home in the future as well.

Roger Boyes, the diplomatic editor of The Times, said this week that Russia is facing an economic crisis and could go “bankrupt” if countries turn away from Russian oil and gas.

Speaking to Times Radio, he said: “The source of Russia’s wealth, fossil fuels, is dripping.

“This is because of the climate change that is taking place. Putin thought he could do it… but by choosing to invade Ukraine the moment he did, he is speeding up everyone’s plans to drop oil and gas.

“The end result is that Russia is getting poorer, faster than they expected. And Putin will be the man at the helm.

“It’s a lot to worry about. Russia is going bankrupt very quickly now.”

A key debate in the EU is the prospect of banning Russian gas from hitting Moscow’s economy.

Hungary was a stumbling block for Europe.

This week, Hungarian Foreign Minister Peter Szijjarto said it would be “impossible” to ban Russian gas.

He said: “When we impose sanctions, we have to make sure that those sanctions do more harm to those against whom we impose the sanctions than we do ourselves.

“We need to have a very clear stance on the war, whatever we have, we condemn Russia for this military aggression. We stand behind Ukraine. But we also have to take reality into account.

READ MORE: Putin suffers major setback after Ukraine blows up THREE ammunition depots

“If you can’t import gas from Russia, the country will stop, [the] economy stops, we can’t heat the houses, we can’t keep the economy going. Our question is who can offer a solution?”

According to reports, Germany has begun to prepare for an abrupt end to the use of Russian gas.

Russian gas accounted for 55 percent of German imports last year, but Berlin is now being pressured to end this dependency over the invasion of Ukraine.

Germany has said it wants to withdraw from Russian supplies, but warns that it could still be dependent on Russian gas until 2024.

In April, German Chancellor Olaf Scholz said his country will stop importing Russian gas “very soon”.

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He said: “We are actively working to become independent from oil imports and we think we will be able to make it this year. And we are actively working to become independent from the need to import gas from Russia.

“This, as you might imagine, is not that simple, because infrastructure has to be built.”

His comments came during a meeting with Prime Minister Boris Johnson in Downing Street.

Johnson added: “I have to say that negotiating with Putin doesn’t look promising or that he can be trusted.

“This is not easy for either of us and I applaud the Olaf government’s seismic decisions to move Germany away from Russia’s hydrocarbons.

“We cannot transform our respective energy systems overnight, but we also know that Putin’s war will not end overnight.”

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