Overview

• Russia lost approximately 1,400 tanks in 2024, with total losses of 4,400 main battle tanks since the invasion began in 2022, according to the IISS report.
• Moscow has relied on refurbishing Soviet-era stockpiles to offset losses, but these resources are deteriorating and may not sustain current operational levels beyond 2026.
• Ukraine faces significant personnel shortages and struggles to maintain troop levels, while Western military aid has been insufficient to support a sustained counteroffensive.
• Russia's military spending increased by nearly 42% in 2024, reaching $145.9 billion, reflecting the war's central role in its domestic and economic priorities.
• The IISS report suggests the war remains a grinding conflict with no immediate resolution in sight, as both sides endure heavy attrition and economic strain.