Putin Rumored to Consider Quitting

Russian President Vladimir Putin is considering quitting, The Independent reported, citing sources, and Forbes magazine said rumors that he might stand down had been circulating within Russia media for the past three months, and noted he had yet to make an announcement of his candidacy.

The Independent said there has been much uncertainty as to whether he will run in the next presidential election but according to various academic, government and near-government sources interviewed, Putin is tired and reluctant to embark upon another major national election campaign.

Forbes said one of the rumors tossed around by Moscow-based reporters was that Putin will not run, giving himself a fourth and final shot four years from now, should the new leader face a public backlash or take the country in a different direction.

“There is a growing sense that this election is less about the future, as it is about the end,” Valery Solovei, a professor of the Moscow State Institute for International Relations, told The Independent.

The image of Putin painted in the report is of a man weary to trust anyone, holding his cards very close to his chest and reluctant to reveal his intentions to even the closest of colleagues.

The Russian president has delayed officially announcing his intentions regarding the presidential elections and many expect that a declaration would be made no earlier than mid-December.

However, three separate sources told The Independent that Putin had been toying with the idea of leaving the presidency since last year, going as far as to instruct his administration to draft up various scenarios for his exit.

The Mirror reported that Putin, who first came into power in 2000 and has won three elections since, may likely step down to spend his vast fortune that will be unlocked upon his retirement.

Putin has been unable to spend this money while serving as president but, as rumors surface about his alleged intentions to step down as leader, speculation has turned to his wealth, CNBC reported,

Former Hermitage Capital Management CEO Bill Browder estimated Putin's net worth to be $200 billion, per CNBC, suggesting that the Russian leader had accumulated his wealth through “ill-gotten gains” and kept his money “in the West and all of his money in the West is potentially exposed to asset freezes and confiscation."

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