Episode Notes:

Stephen Kotkin joins Michael Kofman to assess the state of the Russo-Ukrainian War halfway through 2025. What has more than three years of resistance taught us about Ukraine’s will — and Russia’s limits? Why has Vladimir Putin rejected an armistice even when offered on favorable terms? And what if the war ends with no real winner — only exhaustion? The two discuss the historical context, the risk of prolonged conflict, and the potential long-term impacts on both nations.

Image: Army Inform