Russia was making territorial gains in the Ukraine war around the third anniversary of Vladimir Putin’s invasion on 24 February, having renewed its offensive.
Russia made significant advances on the southern front after a year-long stalemate, capturing Avdiivka, a critical stronghold previously controlled by one of Ukraine's most formidable battalions in the region.
The Russians have since been preparing for future battles in southern Donetsk, taking the small village of Pobeda, just 5 kilometres away from the main city the region is named after.
On its part, Ukrainian morale is at an all-time low. Although the army had high hopes for its autumn offensive of 2022, it fell short of its goals.
Meanwhile, accusations of corruption within the military have also had a demoralisation effect on morale in the country. Just two weeks before the war's second anniversary, Army Chief Valerii Zaluzhny was replaced by Oleksandr Syrsky.
Projected trends on the battlefield for the coming months, alongside recent developments on the ground, suggest growing challenges for Ukrainian forces. Analysts predict they will have difficulty withstanding an advancing Russian offensive.
Having said that, Russian troops are advancing at a sluggish pace and have faced stiff resistance from Ukrainian soldiers. Additionally, Russia hasn't been able to take over Donetsk and Luhansk or gain a tighter hold on Zaporizhia and Kherson.
Despite a fivefold increase in the area under Russian military control since the conflict's onset, Ukrainian forces still retain roughly two-thirds of Donetsk, half of Kherson, a quarter of Zaporizhia as well as around 5% of Luhansk.
And Russian progress in the Kharkiv region in eastern Ukraine remains limited, with control primarily confined to isolated pockets in its southern reaches. This means Russia is still not in a position to partition Ukraine.
Putin in no hurry
But Putin doesn't seem to be in a hurry. He is prepared to drag out the conflict, banking on dwindling Ukrainian morale and growing impatience among Kyiv's allies in the West to fund its war effort.
Read more: Why Putin is in no rush to negotiate end to Ukraine war
Putin is also waiting to see the outcome of the US presidential election later this year. Former President Donald Trump's stated desire to end funding for the Ukraine war will certainly boost Russia's negotiating position over any resolution to the war.
It could potentially use the scattered territories it currently holds in eastern, central, and western Ukraine as bargaining chips, proposing a withdrawal from these areas in exchange for Ukraine pulling back its remaining forces in the southern regions.
In this scenario, Russia would secure control over the territories it annexed in September 2022: Donetsk, Luhansk, Zaporizhia, and Kherson.
Even if any such talks fail to produce an agreement based on a proposed land exchange formula or any alternative, Russia would still effectively gain control over most of the territories it has seized.