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Then, at the end of 1999, Putin took over. Since then he has ruthlessly reasserted Kremlin control over the energy sector and the media. The economy has bounced back, with growth averaging 6.8% and inflation coming down into single digits. Putin's most impressive achievement, however, has been to restore Russia's global clout. While his predecessor acted the clown on the international stage, Putin has relished playing the tough guy. Indeed, when I saw him speak at the recent international Conference on Security Policy in Munich, the Russian President gave a striking impersonation of Michael Corleone in The Godfather...

Author: /time Magazine | Title: History: The Godfather | 2/15/2007 | See Source »

...some listeners, Putin's complaints were eerily reminiscent of the cold war. But as I looked around the conference hall, it struck me that his target audience was not necessarily American but rather more European and Middle Eastern. Like Michael Corleone, Putin aspires to be a businessman. His Russia is an energy empire, sitting on more than a quarter of the world's proven reserves of natural gas, 17% of its coal and 6% of its oil. For geographical reasons, the U.S. is not one of Russia's main customers. But two-fifths of Germany's natural-gas imports come...

Author: /time Magazine | Title: History: The Godfather | 2/15/2007 | See Source »

...sure that this lesson of history has not been lost on Putin. The political implications of today's expensive oil are worth pondering. Quite simply, Russia is the only major power that has an interest in high energy prices. It is therefore the only major power with no interest in Middle Eastern stability...

Author: /time Magazine | Title: History: The Godfather | 2/15/2007 | See Source »

That is why Russia poses America's biggest problem when it comes to stopping Iran from acquiring nuclear weapons. True, at Munich, Putin declared his commitment to nonproliferation. But the fact remains that it is the Russians who are building the Iranian nuclear reactor at Bushehr and the Russians who have just won the contract to build an additional six such plants. Putin may have spoken at Munich of the "risk of global destabilization" emanating from the Middle East. In reality, nothing would suit him better. For it is the destabilization of the Middle East that guarantees the high energy...

Author: /time Magazine | Title: History: The Godfather | 2/15/2007 | See Source »

...cold war was quite enough." ROBERT GATES, Secretary of Defense, reacting to comments by Russian President Vladimir Putin, who blamed U.S. policy for forcing other countries to seek nuclear weapons to defend themselves...

Author: /time Magazine | Title: Verbatim: Feb. 26, 2007 | 2/15/2007 | See Source »

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