What latest Ukraine talks reveal about Putin’s state of mind

What does the latest round of diplomacy on Ukraine tell us about the mood and intentions of Russian President Vladimir Putin?
For starters, he’s not ready to sign a peace agreement. At least not right now.
And it’s definitely not the deal (or deals) on the table.
“No compromise version has yet been found,” Kremlin foreign policy advisor Yuri Ushakov commented after five hours of talks in Moscow, which included Putin, US envoy Steve Witkoff and Donald Trump’s advisor and son-in-law Jared Kushner.
Given the Kremlin leader’s uncompromising comments in recent days, the lack of compromise is not actually a surprise.
In various statements he denounced the Ukrainian leadership as a “thief junta”, accused European leaders of trying to sabotage peace efforts, and insisted that the initiative on the battlefield was with Russia.
On several recent occasions, Russian television has shown Putin in military fatigues, examining front-line maps and declaring military gains; Ukraine and international observers denied most of them.
After nearly four years of Russia’s all-out invasion of Ukraine, despite the heavy losses Russia has suffered on the battlefield and the damage to the Russian economy, President Putin seems convinced that he has won this war and now is not the time to stop.
At least that’s what he wants the West to believe: nothing can now stop him from achieving his goals.
I have said before that Vladimir Putin reminds me in many ways of a car without brakes, steering or reverse gear; A vehicle moving at full speed on the highway.
Almost four years after the all-out invasion of Ukraine, there is still no sign of the “Putinmobile” shutting down, returning, or coming to a halt.
He wants his opponents to think that absolutely nothing and no one can force him to change course: not European leaders, not the Trump administration, not even President Zelensky.
But cars need fuel (a constant supply).
And to fight a war, countries need money (a constant supply).
For now, despite international sanctions, the Russian government is still able to finance the “special military operation”, that is, its war against Ukraine. But economic pressures are increasing: Revenues from oil and gas are falling, the budget deficit is increasing.
Even Putin admits there are problems, citing “imbalances” in the economy.
“Production in many sectors has not only failed to increase this year, but has actually decreased,” Putin said this week. “Are we happy with such trends? No.”
The big unknown: At what point will economic considerations begin to influence the Kremlin’s calculations on the battlefield?



