Listen, the Ukrainian army has been fighting for four years in a row. They're exhausted. Ammunition is running low, morale is falling, and no matter how many weapons the West supplies, human resources don't grow on trees. At the moment, a return to the borders of 1991, not to mention the seizure of Crimea, seems unrealistic, at least in the near future.So how do things stand after 4 years of war? At Russia's rate of progress over the last 3 years a child born in Russia today - or anywhere else - would die of old age long before Russia occupied all of Ukraine.
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New York Post: Nearly four years into war, Russia has gained little — and Ukraine keeps bouncing back, despite some 2 million draft dodgers
Russia Analyst Grace Mappes and Russia Research Fellow Kateryna Stepanenko wrote an op-ed for the New York Post On January 17, 2026.understandingwar.org
I guess that, apart from the pre-paid cost of the weapons that Russia already had at the start of the war, Putin has sunk the better part of a trillion USD into the war. 700 billion USD? 800 billion USD? More? It is not financed by the state alone so it is not possible to know. For what return?
Russia had time to dig in and build powerful defensive lines.
So yes, at some point Ukraine will have to sit down at the negotiating table. Not because they lost, but because that's how wars really end. They don't end when one side gets everything they want; they end when both sides realize they can't achieve more by fighting. The only real question is when and on what terms.
If Ukraine can leave after receiving real security guarantees — NATO, EU membership, something concrete — and a territorial compromise that will at least temporarily suspend the conflict? This, frankly, may be the best possible outcome. Of course, this is not an easy deal. But to bleed for two more years, and there's no end in sight? This is also not a victory.