Calculating Russia’s Losses in Ukraine, With Mika Golubovsky and David Frenkel

At the beginning of the war in Ukraine, Western leaders put a lot of faith in applying economic pressure to Russia, and it is now probably the most sanctioned country in the world.But despite the unprecedented sanctions tsunami, the Russian economy is yet to collapse. How long can the Kremlin maintain its ever-growing military spending and the overall economic imbalances? Will Putin be able to simultaneously finance his costly war, keep the population happy, and maintain macroeconomic stability? For additional insight into this issue, read Alexandra Prokopenko's piece for Foreign Affairs on Putin’s trilemma: https://www.foreignaffairs.com/ukraine/putin-not-yet-desperate

Soon after the start of the war in Ukraine, Russia stopped publishing official data on its military losses. Despite that, analysts from independent media still manage to extract data from multiple sources, such as regional obituaries, payments, satellite images, and other open-source intelligence resources. How did Mediazona, a civil rights media outlet, become a leading source of data on Russia’s losses? How reliable is the data, and what does it tell us? Will the growing military casualties ever lead to a public backlash in Russia?You can read Mediazona's analysis here: https://en.zona.media/article/2025/04/25/casualties_eng-trlIf you would like to support Mediazona’s work, you can make a donation here: https://donate.zona.media/en?utm_source=header-web&utm_medium=web&utm_campaign=regular

Russia’s Victory Day public holiday, celebrated on May 9, has undergone a major transformation in Putin’s Russia. Historically, it was a day of somber commemoration, and its main leitmotif was “Never again.” Under Putin, the holiday has become increasingly militaristic, with the memorial aspect now overshadowed by the far more belligerent slogan “We can do it again.” How did this happen, and what role does Victory Day play in the Putin regime today?

While recent diplomatic efforts to bring Ukraine and Russia to a peace deal and the unexpected Easter truce announced by Putin are bearing no fruit, the situation on the battlefield remains the most influential factor in the future trajectory of the war—including diplomatic attempts to bring the conflict to a halt. Donald Trump seems to believe that Ukraine will inevitably lose the war if a peace deal that can satisfy the Kremlin isn’t achieved. But is that really the case? What shape are Ukrainian and Russian forces in in terms of manpower, equipment, and tactics? And what are the potential scenarios for the 2025 campaign?

When U.S. President Donald Trump announced his long list of reciprocal tariffs, many instantly noticed that one country had escaped any restrictions: Russia. Does that mean Russia is now a safe haven amid the ongoing economic storm? And what are the consequences for Moscow of a falling oil price, and the unprecedented U.S. tariffs on China, Russia's most significant trading partner?

Throughout the war, many people have been skeptical about how long Ukrainian society could hold up before inevitably collapsing under Russian pressure. After three full years of war, there are no signs of discord or the looming collapse of the unity of the Ukrainian people. After his public dressing-down by Trump in the Oval Office, Zelensky’s popularity only increased. But is the real picture more nuanced than this? What processes are unfolding right now inside Ukraine?

What is the reason for the sudden change of heart in U.S. policy on Russia under the Trump administration? One theory is that Donald Trump is trying to lure Russia out of China’s sphere of influence and drive a wedge between Moscow and Beijing, a move described by some as a “reverse Kissinger.” How accurate is that theory, and does the U.S. administration have the instruments needed to pry China and Russia apart?

With the arrival of the new administration in the White House, everyone waited with bated breath for the first executive orders regarding the war in Ukraine. The actions of President Donald Trump and his team have not only damaged the United States’ reputation, but also overall transatlantic unity and—most importantly—Ukraine's prospects of security guarantees and a lasting peace. After the latest high-profile talks in Saudi Arabia, the world has been left to ponder what it all means.

In 2022, in response to Russia’s invasion of Ukraine, German Chancellor Olaf Scholz declared “Zeitenwende”—a “turning point” in how Germany should think about its defense and security. As the third anniversary of the war approaches amid signs that the Trump administration wants to bring it to an end on terms favorable to Russia, Germany is yet to form a new government following the collapse of Scholz’s coalition. What does the upcoming federal election mean for Germany and its role supporting Ukraine? What changes to German and EU defense can be expected, depending on the composition of the new coalition?

Since Donald Trump’s inauguration as U.S. president, ways to stop the carnage in Ukraine this year have been the subject of intense policy discussions in capitals around the world. Despite Trump’s rhetoric about ending the war swiftly and forcing Putin into a deal, there is still no clear vision of how a cessation of hostilities could be reached. Does the new team in the White House have what it takes to secure a deal that guarantees Ukraine’s sovereignty, and what is the way forward?