The Russo-Ukrainian War grinds on, with Russia making extremely marginal territorial gains at exorbitant human and materiel cost. But the Russians are inflicting heavy casualties on Ukraine as well. And for the first time in, well, forever, there appears to be at least a glimmer of a possibility of some sort of negotiated settlement. I’ll first discuss the military situation, then the political/diplomatic one, as the last is contingent on the first.