Russian Recession Will Not Stop Vladimir Putin from Invading Ukraine, Analysts Say and Barack Obama Agrees

No thanks to the combination of record low oil prices and economic sanctions by the West, Russia is officially in recession by Russian president Vladimir Putin is not expected to tone down his nationalistic stance, including the feared invasion of Ukraine.

According to The New York Times, Russians are staring on inflation rate that could the hit a high of nine per cent by the end of the year on top of the estimated 40 per cent lost value of the ruble against the U.S. dollar.

Capital flight is pegged to hit $128 billion and these economic woes compiling at an alarming pace could soon force the Kremlin to introduce austerity measures that were unheard of in the past years marked by prosperity.

The same tough Putin

However, while analysts are anticipating key back tracks from high-profile economic projects that require financial fluidity they added that it is doubtful to expect a turnaround of the image that Putin had cultivated - uncompromising and anti-Western.

In short, the perceived military adventurism agenda in Ukraine will not be altered anytime soon as well as the Russian leaders' hardline and confrontational dealings with the United States and NATO.

"(Putin's) need to divert attention from economic problems might inspire further nationalistic adventures abroad," The Times reported.

As the publication noted, when Crimea was annexed Putin became even more popular with the Russians and he might be tempted to sustain that with similarly inspiring moves, as far as the Russians are concerned.

So the Crimea takeover is sadly not the last indicator coming from Putin that he is ready pick a fight with anyone, analysts suspect.

One analyst told The Times that more likely, Putin will follow through on his post-imperial promises that will make Russia a feared world power despite its financial setbacks.

Ultra-nationalism works for Putin

In comments made this week, the White House appears to agree that Putin's policy in Ukraine will not see dramatic changes soon. According to U.S. President Barack Obama, the Russian leader's actions in Ukraine and its neighboring countries serve him well.

"(Putin's Ukraine stance) is working for him politically inside of Russia even though it is isolating Russia completely internationally," the VoiceOfAmericaNews.com reported Obama as saying.

The same policy, however, is hurting Russia, the U.S. president added.

"Putin has been improvising himself into a nationalist, backward-looking approach to Russian politics that is scaring the heck out of his neighbors and is badly damaging his economy, and sanctions are having a big bite on their economy," Obama said.

And the sanctions will stay on, Obama stressed, if only to keep the heat on Putin and pressure him into leaving Ukraine alone, an action that likely will ease down fears that the looming conflict in Europe could spark Russia's nuclear showdown with America.