Russia's President Vladimir Putin is poised to extend his reign, with initial results from the country's closely watched election showing his lead without a serious competitor.

Vladimir Putin Leads Russia's Election 2024 

According to CNN, preliminary figures released by Russia's Central Election Commission (CEC) on Sunday revealed Vladimir Putin's commanding lead with 87.3% of the vote, signaling his expected dominance in the race.

This victory secures Putin's presidency until at least 2030, marking the 77-year-old leader's third consecutive decade in power and making him Russia's longest-serving ruler since Joseph Stalin.

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What Vladimir Putin's Presidency Means For the Global Economy

While Western leaders view Vladimir Putin's overwhelming win as a reinforcement of his control amid ongoing conflict with Ukraine, counterparts such as China's Xi Jinping, who benefit from Putin's defiance of Western norms, are likely to view the outcome favorably, according to CNN.

Xi, in particular, has forged a strong alliance with Putin, especially evident in the wake of Russia's invasion of Ukraine, despite European concerns over Beijing's neutrality and its implications on Taiwan.

Amid increasing tensions with the US, the continued alliance between China and Russia aligns with Xi's broader strategy of reshaping global power dynamics, which he perceives as overly influenced by Western values and norms.

For North Korea's Kim Jong Un and Iran, both countries facing international sanctions, a Putin regime presents opportunities for economic and strategic cooperation, offering avenues to strengthen their positions on the global stage.

Similarly, while maintaining ties with the US and advocating for peace in Ukraine, India has benefited from ongoing partnerships with Russia, particularly in the energy sector. 

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