A stunning announcement blew up the news world on Wednesday morning.
Russia’s entire government resigned, leaving President Vladimir Putin in place to make sweeping changes.
Massive Changes Coming
Vladimir Putin’s current term ends in 2024 and by the time his final day in office takes place, the Russia that we see should be significantly different.
The apparent goal of the new structure will be to make Russian more approachable by the western world.
When the announcement was made, Putin stated, “For my part, I also want to thank you for everything that was done at this stage of our joint work, I want to express satisfaction with the results that have been achieved.
“Not everything was done, but everything never works out in full.”
Allocating the Power
Right now, the majority of the power resides with the presidency.
The sweeping constitutional changes Putin is trying to put in place will shift the power from the presidency to the Prime Minister and Parliament.
The changes would be expected to go into place once Putin’s term has ended.
Prime Minister Dmitry Medvedev stated, “After those amendments are adopted … there will be significant changes not only to a variety of constitution articles, but to the balance of power, namely to the executive, legislative and judicial branches of power.”
A More Attractive Government
Russia would like the world to believe it is focusing on reform as Putin prepares to step down from power.
Timothy Ash, a marketing strategist for Bluebay Asset Management, stated, ″(They’ll be) more focus on reform, and improving the effectiveness of government to deliver growth and improving living standards.
“Many people thought Putin would do this after presidential elections, but he gave Medvedev a bit more time.
“I think all this is a response to opinion polls reflecting popular dissatisfaction with government and their lots in life, and ebbing support even for Putin.
“In terms of timing, Putin has waited until what he sees as the external risks from sanctions moderating.
“He will sell this new, fresh government as part of a fresh start/reach out to the West.”
Needless to say, however, there is some speculation Putin just may be setting up the government to ensure his loyalists are given power once he steps down.
There are already whispers that Putin will be handpicking appointments for key positions to ensure his his agenda is carried on once he leaves office in 2024.