I thought it worth updating my thoughts on Ukraine, and particularly where this war is going as the duration and ultimate damage done by the conflict will be key to understanding the longer term economic story in Ukraine - the rebuild demands. First point here is that it's clearly difficult to predict anything in a conflict. And we have seen the ebb and flow of this war with first Moscow's apparent blitzkrieg and most peoples’ assumption it would be all over in days with a Russian victory, but then the Ukrainian victory in the battle of Kyiv, then Russia refocusing on Donbas and victories in Severdonetsk and Lychachyansk, and in recent weeks what seems to be the momentum turning again through the provision of new Western military supplies (HIMARS) to Ukraine, with Russian momentum in Donbas stalled and the focus now turning to a looming battle for Kherson with Ukraine expected to go on the offensive.
Pelosi may have solved Russia's resupply problem for them