Why is Putin allowing Navalny to live? Why hasn't he had Navalny (in prison now) killed, like he does with other dissidents?

I can think of two reasons:

1) Navalny’s popularity – if Putin has him killed, then the country will rise up and finally overthrow Putin. And Putin is already weak from the Ukraine war.

2) Foreign relations – if Putin has him killed, then even the countries that currently support Putin will say “enough”.

What’s your take? There are no wrong answers.