Those forces have since turned around and Prigozhin will now leave Russia for Belarus after a deal was struck.
But the fact remains the short-lived insurrection is the most serious threat to Putin’s power in all the 23 years he has run the state.
Blaxland told Weekend Today that Putin would be “very nervous” about what was to come.
“He’s got to look over his shoulder,” he said.
“This group has upturned politics in Russia.”
As Wagner forces marched towards Moscow they managed to take control of a key military facility in the southern Russian city of Rostov-on-Don.
But within hours, after previously refusing to surrender, the Wagner chief announced his forces were turning around from their march toward the Russian capital.
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Despite Putin branding the move “a stab in the back” on Saturday, Prigozhin will not face criminal charges.
Instead he will leave the nuclear superpower after striking a deal brokered by Belarusian President Alexander Lukashenko.
Prigozhin has been publicly critical of Russia’s military leadership and their handling of the war in Ukraine – with few consequences.
Blaxland said the deal could have repercussions for Putin.
“It’s severely damaged Putin’s brand. There’s all sorts of questions about what kind of deal has been struck,” he said.
“This is not a special military operation. This is a catastrophe for Russia.