Russia-Ukraine War Casualties Nearing 2M
Analysis based on 8 articles · First reported Jan 28, 2026 · Last updated Jan 29, 2026
The report on potentially 2 million combined casualties in the Russia-Ukraine war by spring highlights the immense human and economic cost of the conflict. This could lead to increased market volatility, particularly in defense and energy sectors, as investors react to the prolonged war of attrition and its global implications.
A new report by the Center for Strategic and International Studies warns that combined military casualties in Russia's war on Ukraine could reach 2 million by spring. Russia has reportedly suffered 1.2 million casualties, including up to 325,000 troop deaths, while Ukraine has sustained between 500,000 to 600,000 casualties, with up to 140,000 deaths. The report indicates that Russia is paying an extraordinary price for minimal gains and is in decline as a major power. Despite claims of battlefield momentum, Russian forces are advancing at a sluggish pace. Concurrently, Russian strikes hit an apartment block in Ukraine — Kyiv, killing two people, and injured nine others in Ukraine — Odesa, Ukraine — Kryvyi Rih, and Ukraine — Zaporizhzhia. Both Russia and Ukraine continue to launch drone attacks, with Ukraine's General Staff claiming a strike on the Khokholskaya oil depot in Russia's Russia — Voronezh Oblast.
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