When Russia fights the wrong enemy
Live MintLike Czar Nicholas II, Russian President Vladimir Putin has misidentified his primary foe. In the Russo-Japanese War, Nicholas fought Japan over Manchuria for concessions that Russia could not monetize, instead of investing in the railways and munitions needed to fight the country’s actual enemy, Germany, a decade later. Its long list of grievances dates back centuries, to the czars who removed large swaths of territory—an area larger than the United States east of the Mississippi River—from China’s sphere of influence. Russia’s power brokers should ask whose interests the Ukraine War now serves. To avoid the fate of the Russian nobility—or falling from high-rise windows—the Russian elite could incentivize Putin to retire and cut their country’s losses by returning territory in exchange for keeping their personal wealth.