Insider Finance - Business - Rebellion weakens Putin

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June 26, 2023

Hi there! This is Peter Gelling, Insider's weekend bureau chief. This weekend was all about Russia, where in a stunning 36 hours, the mercenary organization known as the Wagner Group staged a rebellion and marched to within 120 miles of Moscow. It was the most serious threat to Putin's power ever. None of this looks good for Putin, who experts say has emerged from the dramatic weekend a little worse for wear.

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— Peter Gelling

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THE BIG STORY

Wagner rebellion

Yevgeny Prigozhin, the owner of the Wagner Group. Prigozhin Press Service via Associated Press

The Wagner rebellion abruptly ended before forces entered Moscow, but the fact that a warlord and thousands of his soldiers were able to threaten the Russian capital is a humiliating and irreversible blow to Vladimir Putin.

As Charles R. Davis reports, experts say that Russians won’t forget the sight of mercenaries seizing military installations, capturing a city home to more than one million people, and marching to within striking distance of the Kremlin.

The Wagner boss Yevgeny Prigozhin showed that the Russian president no longer enjoys a monopoly of force in his country. Mikhail Zygar, a Russian journalist, told The New Yorker that there is a “growing feeling” that Putin is “a lame duck” who’s “not really running the country.”

Zygar added that, while the crisis was staved off following the intervention from the president of Belarus, the damage to Putin’s standing had already been done.

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This edition was curated by Peter Gelling, and edited by Lisa Ryan, Jack Sommers, Shona Ghosh, and J.R. Stacey. Get in touch: insidertoday@insider.com.

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Insider Finance - Business - Rebellion weakens Putin

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