Gazprom is practically his personal company, his money, his wealth. Her loss and quite real bankruptcy for Putin is not an abstract "defeat of Russia", it is stolen in person's family fortune. The invasion was largely for the sake of control of the Ukrainian GTS and no longer pay Naftogaz for transit. But everything went to a scrape. Termination of gas supplies to Europe is a huge personal defeat of Vladimir Putin - a person of greedy and loving luxury.
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