Russia still occupies roughly 19.5%–20% of Ukraine as the war enters its fourth year. US-backed, European-mediated ceasefire talks are ongoing while both sides continue drone and missile strikes. Russia demands Ukraine give up sovereign territory, while Kyiv refuses and seeks credible security guarantees; both sides are using long-term strikes to build leverage for a possible armistice. According to France 24, Russia has sustained 1.2 to 1.3 million total military casualties, while its recent gains amount to less than 1% of the country. Ukraine has reclaimed minor pockets of land and, according to Bloomberg, used sea drones to destroy roughly 30% of the Russian Black Sea Fleet's vessels. Analysts expect a protracted conflict or an armistice rather than a clear military victory, and experts warn that if Western aid stops, Ukraine's air defences could deplete quickly.
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XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/20/2026 | 4,125.21 |
| Change that session | -0.38% |
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