|

Geopolitical Analyst: Russia's Local Elections Show Cracks In Putin's Power

Municipal elections in Russia, while following the pre-ordained outcome of Vladimir Putin’s strong-armed regime, showed some fissures in the ruler’s hammerlock on power, the geopolitical risk analysis firm GeoQuant says.

The analytics firm showed institutional support for Putin, a vivid character in American politics thanks to the apparent Kremlin ties to President Donald Trump, remaining strong while support among the masses dipped.

Opposition Gets Grassroots Support

The relatively cosmopolitan voters in Moscow threw some support to the opposition in the Sept. 10 election that was essentially stage-managed by Putin, with some outlying areas also showing signs of disrupting Putin’s stranglehold on power.

“A relatively robust opposition showing in Moscow, and larger than expected attendance at a series of far-flung (from Moscow) rallies by opposition leader Alexei Navalny, has increased chatter about cracks in Putin’s firm hold on Russian politics ahead of 2018 (national) elections,” wrote GeoQuant CEO Mark Y. Rosenberg.

The analysis firm showed institutional support hitting a hard, stable line, while its gauge of public support was dipping.

“Putin’s popular support remains rock-solid.” Rosenberg wrote. “Nevertheless, the main story in Russian elections (and arguably Russian politics more broadly) remains Putin/United Russia’s ironclad control of Russia’s political and electoral institutions — a reality made clear by our daily, effectively unwavering indicator of the government’s Institutional Support.”

Good Luck To The Anti-Putin Voters

“Indeed, the contrast between recent trends in Mass and Institutional Support tells us a lot about how the 2018 elections will likely play out: even though Russian voters (especially Muscovites) want to vote against Putin, United Russia’s control of electoral institutions — including candidacy requirements, rally permits, state-run media and the vote count itself — will make it hard for them to do so.”

Author

Benzinga Team

Benzinga's news desk is a dynamic and innovative team that provides real-time, actionable articles that help readers navigate the market.

More from Benzinga Team
Share:

Editor's Picks

EUR/USD stays depressed near 1.1850 ahead of German ZEW

EUR/USD remains in the red near 1.1850 in the European session on Tuesday. A broad US Dollar bullish consolidation combined with a softer risk tone keep the pair undermined ahead of the German ZEW sentiment survey. 

GBP/USD drops below 1.3600 after weak UK jobs report

GBP/USD is seeing a fresh selling wave, giving up the 1.3600 level in Tuesday's European trading. The United Kingdom employment data showed worsening labor market conditions, bolstering bets for a BoE interest rate cut next month. This narrative is weighing heavily on the Pound Sterling. 

Gold pares intraday losses; keeps the red above $4,900 amid receding safe-haven demand

Gold (XAU/USD) attracts some follow-through selling for the second straight day and dives to over a one-week low, around the $4,858 area, heading into the European session on Tuesday. 

Pi Network rallies ahead of its first anniversary

Pi Network trades above $0.1800 at the time of writing on Tuesday, recording nearly 5% gains so far. On-chain data indicate that large wallet investors, commonly known as whales, have accumulated approximately 4 million PI tokens over the last 24 hours.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Stellar mixed sentiment caps recovery

Stellar price remains under pressure, trading at $0.170 on Tuesday after failing to close above the key resistance on Sunday. The derivatives metric supports the bearish sentiment, with XLM’s short bets rising among traders and funding rates turning negative.