Ukraine

Earlier this week, Ukraine was subjected to one of the largest aerial assaults by Russia since the start of Vladimir Putin’s invasion over four years ago. Overnight from Monday into Tuesday, Russia sent 73 missiles and 656 drones into Ukraine, killing at least 21 and injuring dozens across the country. According to the Russian Ministry of Defense, this strike was retaliation for a Ukrainian attack on a vocational school in the occupied region of Luhansk on May 22. But, as the Kremlin’s war grinds on well into its fifth year, it also appears to signal a step change in how the Russian armed forces are choosing to fight.

The long war in Ukraine has morphed into a new and decisive phase, one that could lead to Ukraine’s upset victory over its much larger, more aggressive neighbor. The global consequences of Russia’s loss – and Vladimir Putin’s humiliation – would be enormous. What is this new phase? Is there really evidence the tide has turned in Ukraine’s favor? To sort out the answers and understand what’s new about the war’s current phase, we need to do a brief tour of the three phases that preceded it. The first phase began well over a decade ago, in February 2014, when Barack Obama was president. Ukraine fatefully signaled it wanted much stronger ties with Europe and the United States, not Russia, at the very moment US deterrence was weak.

A top-level Kremlin policy document discussing post-war political planning and how to neutralize potential ultranationalist discontent has been leaked to the Russian investigative site Dossier Center. Entitled "Images of Victory," the paper gives a rare insight into the inner workings of Russia’s political machine. Crucially, it shows that while the Kremlin remains officially indifferent to peace talks, behind the scenes apparatchiks are working hard on selling an inevitable stalemate to the Russian people by dressing it up as a species of victory. The document was leaked before President Trump's announcement today of a three-day ceasefire between Russia and Ukraine.

Every drone Ukraine fires at a Russian oil terminal is meant to defund Moscow's war in Ukraine. Right now, each one may be doing the opposite. Ukraine's strikes on Russian oil export infrastructure are intended to starve Moscow of the budget revenues that fund its war machine. The logic is straightforward: disrupt exports, reduce revenues, constrain the war effort. Kyiv has been explicit about this: Ukrainian officials consistently frame attacks on oil terminals as direct hits on Russia's war chest, treating every barrel that cannot be shipped as a ruble that cannot be spent on missiles or mobilization. Reuters puts the scale of that disruption in stark terms – at least 40 percent of Russia's crude export capacity, roughly 2 million barrels per day, is currently offline.

As Ukraine emerges battered but unbowed from the third and most terrible winter of the war against Russia, its people have proved that they can survive and fight on even as Vladimir Putin's troops destroy swaths of their country’s heating, transport and electricity infrastructure. But one thing that Ukraine cannot survive without is money – and that, the European Union seems critically unable to provide.  On Thursday, a Council of Europe summit once again failed to remove a veto by Hungary’s prime minister, Viktor Orbán, on a €90 billion ($104 billion) tranche of funding for Ukraine.

Boris Johnson has urged European leaders to hand $247 billion of frozen Russian central bank assets to Ukraine – but says he fears they “lack the courage” to do so, in an interview with The Spectator. The former British prime minister also warned that Trump is at risk of “morally polluting” himself if he caves to Putin’s demands in peace negotiations and encouraged his negotiating team to stop the “nauseating deals” they are discussing about joint business ventures.“I think Europe is at a very difficult point because Europe has got to do the reparations alone,” Johnson said. “And I'm worried that they lack the courage. They must do it. I think that's the only way to get the Americans to take Europe seriously.