• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

1

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
PoliticsUkraine invasion
Europe

‘This is not a bluff’: Putin orders ‘partial’ mobilization of 300,000 troops and rattles nuclear saber

By
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Bloomberg
Bloomberg
Down Arrow Button Icon
September 21, 2022, 4:28 AM ET
Russian President Vladimir Putin speaks during a meeting on the military-industrial complex at the Kremlin, Sept. 20, 2022, in Moscow.
Russian President Vladimir Putin speaks during a meeting on the military-industrial complex at the Kremlin, Sept. 20, 2022, in Moscow.Getty Images
Add Fortune on Google for similar content.

President Vladimir Putin declared a “partial mobilization,” calling up 300,000 reservists in a major escalation of his flagging invasion of Ukraine, which he portrayed as a fight to the death with the U.S. and its allies.

“When the territorial integrity of our country is threatened, we will certainly use all the means at our disposal to protect Russia and our people,” Putin said in a televised national address Wednesday. “This is not a bluff.”

“Those who are trying to blackmail us with nuclear weapons should know that the wind patterns can also turn in their direction,” the president said, accusing the US and allies of seeking to “destroy” Russia. 

Putin’s threats come after a Ukrainian counteroffensive in the last few weeks has dealt his troops their worst defeats since the early months of the conflict, retaking more than 10% of the territory that Russia held. The Kremlin had long resisted announcing any steps toward mobilization, seeking to limit the impact of its seven-month invasion on the Russian population, but the latest battlefield losses have underlined its shortage of manpower.

WWII Precedent

Defense Minister Sergei Shoigu told state TV the reservists wouldn’t be called up all at once under Putin’s partial mobilization. The order applies only to those with military experience and wouldn’t affect students or others who haven’t previously served in the army, he said. 

“This is another bad and misguided step,” German Vice Chancellor Robert Habeck, who is also the economy minister, told reporters in Berlin. “For me and for the federal government it’s in any case clear that we will continue to fully support Ukraine at this difficult time.”

Sham referenda and mobilization are signs of weakness, of Russian failure. The United States will never recognize Russia's claim to purportedly annexed Ukrainian territory, and we will continue to stand with Ukraine for as long as it takes.

— Ambassador Bridget A. Brink (@USAmbKyiv) September 21, 2022

The additional troops would be more than than the approximately 180,000 that the U.S. estimated Russia had massed at Ukraine’s borders before the Feb. 24 invasion. Ukraine, which declared a mobilization early in the war, now has around 700,000 in the field with months of training and has said it aims to create a million-strong army.

Putin made his threats a day after Russian-installed occupation authorities in the regions of Ukraine’s east and south that Kremlin forces still control hastily announced plans for “referendums” starting this weekend on annexation. Putin said Russia will grant those requests to become part of its territory, thus extending his guarantees of defense to those areas, as well.

Ukraine and its allies denounced the planned votes as shams and vowed to continue fighting to retake the lands, which cover parts of the Donetsk, Luhansk, Kherson and Zaporizhzhia regions.

Once the annexation takes place, Russia will also be able to bolster its forces fighting in Ukraine with conscripts doing their military service, who currently can’t be sent to the front line because it is outside Russian borders, said Igor Korotchenko, head of the Moscow-based Center for Analysis of World Arms Trade.

Still, increasing the size of Russia’s military involved in the campaign isn’t enough by itself to reverse the momentum, said Korotchenko. “The issue isn’t the quantity (of soldiers) but the capacity to supply them with weapons and gear.”

Nuclear Threats

Russian military bloggers and influential pro-Kremlin figures have been urging Putin to massively expand the scale of the struggling offensive in Ukraine, which the Kremlin continues to call a “special military operation.” Otherwise, Russia risks more reverses faced with a much larger Ukrainian force that’s getting billions of dollars of advanced Western weaponry, they’ve warned.

But most of the Russian public has been largely insulated from the realities of the invasion since it began in February and the Kremlin had for months sought to minimize the impact. Even a partial mobilization threatens to change that. Putin’s decree doesn’t set a limit on the number of troops that ultimately could be called up if needed, leaving that to the Defense Ministry to decide. 

Parliament Wednesday is slated to give final approval to hastily proposed legal changes that would stiffen criminal penalties for dodging the call-up, as well as for desertion and surrender.

Putin last week vowed to pursue the attack on Ukraine despite the severe losses, saying he’s not “in a hurry” and is ready to step up attacks on Ukrainian infrastructure.

Russian officials have hinted at possible use of nuclear weapons in the conflict before. Actually firing them would risk a direct conflict with the US and other nuclear-armed powers, something both sides have sought to avoid.

U.S. President Joe Biden over the weekend said any use by Russia of chemical or tactical nuclear weapons would draw a “consequential” response. “They’ll become more of a pariah in the world than they ever have been,” he told 60 Minutes. “And depending on the extent of what they do will determine what response would occur.”

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.
About the Author
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Trump’s Iran war provoked the Senate enough to get it to symbolically vote to curb his war powers for the first time
PoliticsDonald Trump
Trump’s Iran war provoked the Senate enough to get it to symbolically vote to curb his war powers for the first time
By The Associated PressJune 24, 2026
10 hours ago
Asia’s defense boom is rewiring the global arms supply chain
Commentaryarms, weapons, and defense
Asia’s defense boom is rewiring the global arms supply chain
By Chris OberoiJune 24, 2026
10 hours ago
Wind turbines on yellow grass
Environmentwind power
California threatens to hit Trump with lawsuit if he doesn’t revive massive wind farm project off central coast
By Jennifer McDermott and The Associated PressJune 24, 2026
11 hours ago
Why Zohran Mamdani’s big night as the Democratic party’s new kingmaker matters for every Fortune 500 CEO in every city and state
PoliticsPolitics
Why Zohran Mamdani’s big night as the Democratic party’s new kingmaker matters for every Fortune 500 CEO in every city and state
By Catherina GioinoJune 24, 2026
11 hours ago
Warren leans in to talk to Scott
PoliticsHousing
Congress’s landmark housing bill could backfire on millions of renters
By Jacqueline MunisJune 24, 2026
11 hours ago
President Donald Trump pictured in September 2025 signing an executive order that overhauled the H-1B visa program.
EconomyImmigration
Trump’s international student crackdown kicked off a domino effect that could shave nearly $500 billion off the economy
By Tristan BoveJune 24, 2026
13 hours ago

Most Popular

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
Economy
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
By Jacqueline MunisJune 24, 2026
1 day ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
1 day ago
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
2 days ago
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
Retail
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
By Nick LichtenbergJune 24, 2026
16 hours ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
18 hours ago
Current price of gold as of June 23, 2026
Personal Finance
Current price of gold as of June 23, 2026
By Danny BakstJune 23, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.