Six Months Later.

Julian Robertson's mandate.

1. Six months after Russia launched its full-scale invasion of Ukraine, signs are accumulating that the balance on the military and economic battlefields is slowly tilting the way of Kyiv and its Western backers. In the biggest war between European countries since World War II, the death and destruction have no end in sight. Ukraine is still struggling against Russia’s advantage in raw firepower, but the country’s defenders are increasingly hitting Russian logistics and bases, including in Crimea, as they receive more Western weapons. A drone strike on the headquarters of Russia’s Black Sea Fleet in Crimea on Saturday was one of many recent signs that Russia’s rear areas are increasingly vulnerable to Ukrainian attack. Political and popular backing for Ukraine in the U.S. and most of Europe remains robust, despite fears that a drawn-out war and rising energy and food prices could undermine Western unity. Read the rest. (Source: wsj.com)