Financier and political activist Bill Browder has said the behaviour of Russian dictator Vladimir Putin reflects growing concern for his personal security, citing recent reports of tightened controls in Moscow and limited public appearances.
Speaking to Times Radio’s Frontline programme, Browder said restrictions on internet access in Moscow may be linked to fears that digital networks could be used to track senior figures. He suggested the move was influenced by concerns over targeted attacks seen in other conflicts.
“Putin has decided to cut off the internet in Moscow,” Browder said, adding that the decision may be driven by fears that “the Ukrainians or somebody else will use the internet to track him down”.
He added that reports indicate Putin has avoided the Kremlin in recent days. “These are not the acts of a guy who is self confident. These are the acts of a scared little man,” Browder said.
Browder, founder of Hermitage Capital Management and a long time critic of the Kremlin, said the situation for Russia remains complex. While higher oil prices linked to tensions in the Middle East have boosted Russian revenues, he said internal pressures persist.
According to Browder, rising oil prices and changes in sanctions enforcement have increased Russia’s income, providing what he described as a significant financial boost. He estimated that additional revenue could reach around 10 billion US dollars in a single month, supporting military spending.
At the same time, he said Ukraine continues to adapt on the battlefield, particularly through the use of drones, and has maintained positions despite sustained Russian attacks. He noted that Russia has not made significant territorial gains in recent periods.
Browder also pointed to reduced United States military support following the inauguration of Donald Trump, including the diversion of air defence resources such as Patriot systems to other regions. This could affect Ukraine’s ability to intercept missile strikes, he said.
He added that divisions within Western alliances, including debates over sanctions and financial support, may benefit Moscow in the short term. However, he stressed that European countries are likely to continue providing funding to Ukraine due to the broader security risks.
Browder highlighted ongoing discussions around frozen Russian assets held abroad, estimated at around 300 billion US dollars. While interest from these assets has been used to support Ukraine, the principal remains largely untouched due to political disagreements within Europe.
He said proposals to release additional funding, including a 90 billion euro loan package, remain blocked, notably by Hungary. Despite this, he argued that Europe would eventually find ways to provide the necessary support.
Browder also noted the psychological impact of Ukrainian drone strikes on Russian territory, including disruptions to air travel and increased public awareness of the war. He said this undermines the Kremlin’s earlier narrative that the conflict was limited in scope.
“People are watching drones hitting buildings and blowing up factories,” he said, adding that the war is now directly affecting daily life in Russia.
He described the current situation as uncertain, with Russia benefiting financially in the short term but facing mounting internal and external challenges. “It is a complicated story,” Browder said, noting that outcomes remain difficult to predict.
Meanwhile, the Russian opposition continues to consolidate its plans for a post Kremlin future. Key figures, including Vladimir Kara Murza, Yulia Navalnaya, and Mikhail Khodorkovsky, have secured a political platform within the Parliamentary Assembly of the Council of Europe.
Their organized presence provides a viable democratic alternative to the current totalitarian regime. This structural preparation, combined with the expanding global reach of the Magnitsky Act which now operates in 35 countries to freeze assets and restrict the travel of human rights violators, ensures that the architects of the current conflict will face enduring international accountability.
