Ben Aris: Russia Won’t Invade Ukraine. This Crisis is More Serious Than That

By Ben Aris, Intellinews, 12/17/21

Newspapers have been gleefully reporting about a “possible” invasion of Ukraine by Russia since the end of October. But analysts – both Russian and international – are almost unanimous in the belief that the chances of an actual invasion are almost zero. 

As bne IntelliNews has reported on in detail, the reasons are obvious: it would be too costly in Russian lives, something that Russian President Vladimir Putin’s slowly falling approval and trust ratings make extremely unappealing to the Kremlin; while Russians overwhelmingly support the annexation of Crimea, they are a lot more uncomfortable with the war in Donbas; eastern Ukraine could be taken easily, but western Ukraine could not; and finally the international diplomatic backlash would be catastrophic for Russia’s economy. 

And why bother? What would Russia gain? The only thing of value Ukraine has is agriculture, which would collapse in the event of an all-out war followed an inevitable viscous and impassioned insurrection. On top of that, the Kremlin would take on the cost of fixing Ukraine at a time when it is struggling to fix Russia Inc. It’s not going to happen. 

So what is actually going on here? As usual, all you have to do is listen to what Putin says. Putin has a history of telegraphing his moves well in advance. That was the big difference between Putin and his predecessor Boris Yeltsin, who never said what he meant. 

In Putin’s big set-piece speeches he lays out his plans in black and white and almost always follows through on them. But as it is Putin and as he has been so demonised in the last two decades a lot of what he says is ignored, or twisted to suit the various narratives used to describe Russia. 

Putin said in his very first speech as president that demographics was the main danger to Russia and as we reported in “Putin’s babies”, he did something about that a decade later. Putin warned in his 2007 Munich Security Conference speech that Russia would push back if its security concerns were ignored and he started modernising the army in 2012, annexed the Crimea in 2014 and is now moving up troops that could invade Ukraine in 2021. You can draw a straight line through all these points. 

What did he say?

Putin has just done it again. During the Munich speech he brought up the broken verbal promises made to Mikhail Gorbachev of no Nato eastern expansion. And he has mentioned them again in the last month several times.

The year after Munich in 2008 the Russian Foreign Ministry drew up detailed plans for a new pan-European security deal that included a fair specific framework proposal released by the Russian Foreign Ministry in 2009. Putin has now brought that up again, demanding “legal guarantees” from Nato that it will not expand further (i.e. allow Ukraine or Georgia to join). The Russian Foreign Ministry followed up a few days after the two-hour December 7 virtual summit with Biden with a concrete five point list of demands and on December 15 the MFA sent even more extensive details on what a security deal could look like. Clearly the MFA has been working on this for some time and has a very clear idea of what it wants.

There is a general assumption that the current war talk will die away in the New Year. Daniel Salter, head of Equity Strategy and head of Research at Renaissance Capital, said during a conference call on December 16 that Russia is one of the more prospective investment stories in 2022, as the house view is that Russia won’t invade Ukraine and that things will “calm down” at the beginning of next year.

It’s clear to everyone that Putin is dead set against Ukraine joining Nato, but the assumption is that he is satisfied with the frozen conflict he has caused in the Donbas because that guarantees Ukraine can never join Nato. So after the current posturing is over the status quo will resume.

And that is the bit that has changed…

Read full article here.

2 thoughts on “Ben Aris: Russia Won’t Invade Ukraine. This Crisis is More Serious Than That”

  1. CIA will continue to arm Ukraine via Bulgaria and Romania and to seek a major attack on Donbass.How stupid is Zelensky?

    Putin is way too clever to be sucked in but if he needed to could easily sell an invasion as necessary to protect Russia.He is far more popular than the article concedes and has no real competitor. But he doesnt need to. Russia can easily dominate all Ukrainian airspace and could say take out Ukr airpower,or knobble its entire Navy in one attack .Meanwhile he is building new alliances with China and India and across Asia and in BRICS to establish new trading opportunities for Russian business.Playing his Queen last when pawns are in position

    1. Have to agree, Putin didn’t cause the problems in the Donbas the Ukraine’s did with their attack on the Russian-speaking people in that sector.

      If the Donbas is attacked, Russia can simply use their short range missiles to destroy the Ukrainian army without ever setting foot in the Ukraine, thus no loss in Russian lives, so I don’t really think this article does Justus to the affairs as they stand in both Russia and the Ukraine and as for Putin’s approval rating it beats all of those in the west which includes the EU.

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