Summary: The Death of a State
Ukraine’s military is extremely degraded, having taking exorbitant losses in both men and heavy weaponry. I believe Ukrainian KIA are approaching 150,000 at this point, and it is clear that their inventories of both artillery tubes, shells, and armored vehicles are largely exhausted.
I expect the Bakhmut-Siversk defensive line to be cleared before April, after which Russia will push towards the final (and weakest) defensive belt around Slavyansk. Meanwhile, Russia has significant combat power in reserve, which can be used to reopen the northern front on the west bank of the Oskil and restart offensive operations in Zaporozhia, placing Ukrainian logistics in critical danger.
This war will be fought to its conclusion on the battlefield and end in a favorable decision for Russia.
