The Economist.
Hi there, it's Jason Palmer here, co-host of The Intelligence, our daily news and current affairs podcast.
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When enough Russians feel the endless fighting in Ukraine is futile, and that they are paying the price,
their president, Vladimir Putin, will be forced to do something spectacular to break the deadlock.
This is why it pays to watch Russia for warnings of fatigue or discontent.
Our cover this week features the most stunning such warning so far.
It comes from Andrei Melnichenko, the world's fertilizer king and Russia's biggest industrialist.
Mr Melnichenko is hardly a member of the anti-Putin opposition.
Far from criticising the invasion, he is an insider whose factories have supported the war economy.
Nor is he being high-minded.
Having run his companies outside Russia, Mr Melnichenko returned in 2023 as the scope for global business rank.
Like most oligarchs, he has lived by Mr Putin's rules.
Make money, but keep your nose out of politics.
He is talking now because he and his fellow tycoons can no longer
afford to ignore the rot in a country they watched descend into tyranny.
Mr Melnichenko issued his warning over nearly 60 hours of interviews with The Economist,
and more guardedly in an essay we are publishing online.