Phillips’s Newsletter • 163 implied HN points • 19 Jan 25
- Sanctions against Russia have toughened recently, making it harder for them to sell oil and damaging their economy. This could weaken their war efforts.
- Ukraine's attacks against Russia are increasing in frequency and coordination. They are successfully hitting key targets, which may give them an advantage.
- The war seems to be a race to see which side can keep fighting longer. While Ukraine fears running out of support, Russia is also showing signs of weakening, especially if Western aid continues.