Would Putin take an ‘off ramp’ out of Ukraine?

Over the past few days, the Ukrainians have upended assumptions about the war with Russia. They have shown it was wrong to predict that the conflict was inevitably going to turn into a war of attrition. They have advanced at speed, reclaiming, according to reports, 1,000 square miles of territory in a week. It’s not clear yet whether they will be able to secure these gains. But for now, Russian forces are demoralised and do not have a conventional response.

For Ukraine’s president Zelensky, the military advance is particularly well-timed. It shows his Western backers that the Ukrainians can regain territory and makes it easier to resist attempts to pressure Kyiv to the negotiating table. Indeed, those calling for even greater Western military support to Ukraine have been emboldened by the offensive.

But the concern is how Vladimir Putin might escalate things.