Russian President Vladimir Putin's days of power are coming to an end as the country awaits the leader's response to the decreasing value of the ruble, a fierce political opponent warned.

Putin has remained silent after the currency of his country collapsed against the United States dollar just this week because of the continuous drop in oil prices. The central bank of Russia attempted to increase the value of ruble but was unsuccessful in that endeavor.

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The ruble is 45 percent down against the U.S. dollar and Russia has already spent over RUB80 billion this year in an attempt to increase its value.

Russia's current economic problems will most probably be tackled during the end-of-year news conference that will begin at noon on Thursday. Putin will either answer the questions by then or remain mum on the nagging issue.

The opposing leader who gave the warning, former Prime Minister Mikhail Kasyanov, was an ex-ally of Putin. He pointed out that the growing financial crisis should be blamed on the mismanagement of Putin over the country's economy.

The Western sanctions on Russia due to the support of the country to the pro-Russian separatists in Ukraine definitely pulled down Russia's economy, Kasyanov added.

Kasyanov, 57, said Russia will continue to decline also because of the fall in global oil prices and that 2015 is the year that Putin must make the right decisions.

He also warned Putin that his administration might soon be facing protests and that he should choose between squeezing the political environment or thinking about how to exit his post and agree that there should be free elections early next year.

"As a result of that, (he should have) just a quiet departure through presidential elections," Kasyanov said. "I don't believe he will win presidential elections if they are free and fair."

The next presidential election is set on 2018 and Putin said earlier this month that he is still reflecting if he will be serving another six-year term as it would depend on the situation and on his mood.

Tagsruble, Mikhail Kasyanov, russian economy, Russian sanctions, Russia