WI: Nicholas II resigns in 1913

I got this a bit odd scenario, but let's say it is the year 1913, an event known as the Romanov Tercentenary begins with commencing the 300th anniversary of the ruling Romanov dynasty with the Imperial Family taking the tour of historic routes by Mikhail, the first Tsar of Russia. Nicholas begins to think about his legitimacy and the future. In this alternate scenario, he becomes less motivated during the event and loses confidence in ruling Russia. After the trip ends in Moscow with a huge ceremony, Nicholas decides to himself that he sees no use in being a Tsar and thus resigns from the position that existed exactly 300 years by handing over the authority to his prime minister, Vladimir Kokovtsov. What happens now?
 
Resign? I don't think so. He was one of the last monarchs to believe he had some kind of divine right. Also, lets say he reached a point he felt he could not reign any more, prior to the war beginning, he would most likely abdicate in favor of his then 9 year old son Alexis. Most likely a regency would take place under one of the Grand Dukes, perhaps, Michael as he is the closest to the throne. Or would that be not favored considering he is the heir presumptive under a regency for the new young Tsar Alexis II. Perhaps Grand Duke Nicholas would be placed as regent or a co-regency with Michael just because of the delicate situation of a regent, Grand Duke Michael, who would gain to become Tsar in the event of an untimely death of the hemophiliac child Tsar Alexis II.
 
Resign? I don't think so. He was one of the last monarchs to believe he had some kind of divine right. Also, lets say he reached a point he felt he could not reign any more, prior to the war beginning, he would most likely abdicate in favor of his then 9 year old son Alexis. Most likely a regency would take place under one of the Grand Dukes, perhaps, Michael as he is the closest to the throne. Or would that be not favored considering he is the heir presumptive under a regency for the new young Tsar Alexis II. Perhaps Grand Duke Nicholas would be placed as regent or a co-regency with Michael just because of the delicate situation of a regent, Grand Duke Michael, who would gain to become Tsar in the event of an untimely death of the hemophiliac child Tsar Alexis II.
What effects could this have on Russia during WW1?
 
It could avoid the scenario entirely if Russia doesn't back Serbia in the face of the Austrian demands. That delays WWI for another few years, sees Portgual's possessions split between UK and Germany, and probably sees the Western White House/castle built in time for the 1916 election
 
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