Putin’s current six-year presidential term, secured in the 2024 election, runs through 2030 under Russia’s constitution, which also permits him to seek another term ending in 2036. The September 2026 State Duma elections delivered United Russia a record supermajority of roughly 355 seats, which the Kremlin presented as confirmation of public backing for his leadership and Ukraine policy amid ongoing military operations. Recent meetings with U.S. envoy Steve Witkoff produced agreement to resume technical-level trilateral talks with Ukraine after November 10, focused on post-conflict security arrangements, though no immediate leadership transition signals have emerged. Internal speculation about successors or elite tensions remains unconfirmed and secondary to the absence of scheduled elections or constitutional triggers before 2030. These factors align with trader consensus pricing a near-term exit as low-probability.