Is Russia Losing the War in Ukraine? | FT #shorts

Financial Times
Financial TimesJun 5, 2026

Why It Matters

The stalemate raises the war’s long‑term cost for Russia, eroding its military and economic capacity, while Ukraine’s gains remain fragile, shaping future geopolitical and market dynamics.

Key Takeaways

  • Front line frozen; Russia fails to capture Donbas fully
  • Drones dominate battlefield, giving Ukraine strategic defensive edge
  • Russia loses ~35,000 troops monthly, exceeding recruitment capacity
  • Ukrainian drone strikes reach deep into Russian territory, hitting logistics
  • Economic strain grows for Moscow: collapsing growth, rising deficit, strong ruble

Summary

The FT short asks whether Russia is losing the war in Ukraine, reviewing how the front line has evolved since Putin’s 2022 invasion.

Analysts note the line has essentially stalled, with both sides entrenched and Russia unable to seize the Donbas. Drone warfare now dominates, creating a 20‑km “deadly band” where movement is perilous. Kyiv estimates Russian casualties at roughly 35,000 killed or severely wounded each month—more than Moscow can replenish.

Ukrainian drones have struck far beyond the front, targeting logistics, oil facilities in the Baltic, Moscow and even the Perm region over 1,500 km away. Meanwhile, Ukraine faces its own shortages of air‑defence interceptors and is vulnerable to Russian missile attacks on its energy grid.

The picture is not a clear Russian defeat but a stalemate that is costing Moscow increasingly in lives, finances and morale, while Ukraine’s advantages are offset by its own resource constraints.

Original Description

Four years after Russia’s full-scale invasion, the war has settled into a grinding stalemate. Moscow has yet to achieve its central objective of seizing the entire Donbas region. John Reed explains where the conflict stands now — and what comes next.
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