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Ukrainian Successes Raise Russian Collapse to Realm of Possibility

  • Next steps unclear but Kharkiv drive is called a turning point
  • Russia still controls a fifth of Ukraine, dwarfing new losses
Bloomberg business news
WATCH: Former CIA Director Leon Panetta says Russian President Vladimir Putin could be boxed into a corner.Source: Bloomberg

The extraordinary speed and success of Ukraine’s northern counteroffensive is raising possibilities that few entertained when Russia invaded Ukraine in February: That its military could be defeated, or that it might even collapse.

A rapid meltdown remains unlikely, with even the day’s battlefield developments unclear, let alone the plans and precise conditions of the Russian and Ukrainian militaries. Russia still controls about one-fifth of Ukrainian territory, dwarfing even the 3,000 square kilometers (1,158 square miles) Ukraine says it retook this month.