As the Ukraine war grinds into its fifth month, it is increasingly unclear what Russia could possibly win which might justify the massive costs it is incurring for its invasion. Conquest is supposed to pay, otherwise war is irrational. Yet after just a few months, it is obvious that a cost-benefit analysis of the war is negative and trending worse for Russia. But Russian President Vladimir Putin is disinterested in peace talks. At this point, he appears to be fighting the war simply for prestige – to prove that Russia is still a great power. This is ironic, because the war itself is destroying Russia’s very claim to be a great power.
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