Hungarian-American billionaire says Vladimir Putins defeat in the Ukraine war would dissolve the "Russian empire."

What Happened: Business magnate George Soros on Thursday said Russia's defeat in the Ukraine war one of the deadliest European conflicts since World War 2 would be greeted by former Soviet republics.

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The countries of the former Soviet Union can hardly wait to see the Russians defeated in Ukraine because they want to assert their independence, Soros told the Munich Security Conference.

This means that a Ukrainian victory would result in the dissolution of the Russian empire. Russia would no longer pose a threat to Europe and the world, he added.

That would be a big change for the better.

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Soros, a hedge fund manager turned philanthropist, asserted that Washington would do everything to support Ukraine but that President Joe Biden had warned his Ukrainian counterpart that there were limits. "A Third World War must be avoided at all costs and Europe's support for Ukraine must be preserved," Soros said, without giving out the source of his information.

According to Soros, amid Russian defeat in Ukraine because of Moscow's badly led, ill-equipped and demoralized military men, Putin had been betting big on the Wagner mercenary group to thwart the Ukrainian military.

Meanwhile, Russia renewed attacks on Ukraine on Thursday and a slew of missiles struck its largest oil refinery.

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