YEVGENY Prigozhin’s march on Moscow last month hinted at one way President Vladimir Putin’s regime could come to an abrupt end, and foreshadowed the blow such an event would deal to the global economy.

“While it may not quite be the equivalent of the end of World War II, it would be gargantuan,” said Kent Engelke, the chief economic strategist at Capitol Securities.

Oil futures rose sharply after the now-exiled leader of Russian mercenary group Wagner staged a brief mutiny and exposed cracks in Putin’s grip on power. In a sign that those cracks are widening, Belarus President Alexander Lukashenko claimed Prigozhin had violated the terms of the surrender that Lukashenko negotiated and returned to Russia.