Breaking: Russian government resigns over Putin speech

BREAKING: Russian government resigns, announces Prime Minister Dmitry Medvedev, following President Vladimir Putin‘s State of the Nation address.

President Putin proposed Wednesday to change the Russian Constitution so that he could remain in power after his term ended in 2024, according to early reports.

His proposed amendments would however also reduce the power of the presidency in order to give more power to parliament in selecting a new Prime Minister.

It is unclear at this point what exactly has caused the governmental crisis in Moscow. The proposed changes would need to be put up for a vote by the people.

More to come.