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Two Years of War in Ukraine

February 16, 2024

Trusted Insights for What’s Ahead™:

As Ukraine approaches the anniversary of the Russian invasion and the beginning of a third difficult year of war, it stands at a different position than at last year’s anniversary. Questions remain about the continued extent of Western support and Ukraine’s ability to mobilize additional troops, as well as the future direction of military policy with a change of command leadership. At the same time, Ukrainians remain generally united in support of the war, and the Ukrainian economy is showing a few signs of recovery.

  • Ukraine’s new armed forces commander, Oleksandr Syrskyi, is expected to take a more aggressive approach to the war – but his plans could be hindered by shortages of ammunition and troops.
  • Ukraine’s economy contracted significantly last year but is poised for a slight rebound this year; however, Ukraine depends on foreign financing for many government functions beyond defense.
  • The war has deeply affected Russia as well, with impacts of sanctions hurting the economy and lowering the price Russia can get for its oil exports.
  • Prospects for peace remain distant, with continued strong attacks from Russia and Ukraine’s continued resolve against territorial concessions.

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Author

John Gardner

John Gardner

Vice President, Public Policy

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