00:03So the standoff I guess between the two sides is both military and political. Last year we saw Russia take
00:13approximately somewhere between 0.8 to 1% of Ukrainian territory, but for an enormous cost and casualties.
00:22So it is estimated now that over the course of the four years Russia has taken approximately about 1.2
00:29million casualties, that is those who are killed, wounded or have taken prisoner, and approximately 400,000 of those were
00:37in 2025.
00:38And certainly at the political level, we're not seeing the maxillimist objectives of Putin changing. We've made the assessment that
00:48unless there is a political breakthrough, we don't see the military situation changing on the ground, and we will continue
00:58to see both sides conduct attritional warfare for small settlements or square kilometres of land at a time.
01:08Thank you.
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