23 December 2025

Putin Has Already Won

Michael Hirsh

For a guy who’s lost hundreds of thousands of soldiers and barely moved his front lines forward in a war that’s already lasted longer than U.S. involvement in World War II, Vladimir Putin is looking pretty smug and self-satisfied these days.

It has become commonplace for Western strategists to say that, no matter what he tries now, the Russian dictator will come out of his Ukraine adventure a loser. In nearly four years of horrific bloodshed, Putin has captured barely 20 percent of Ukrainian territory and failed completely in his goal of denying Ukrainians the right to statehood. Meanwhile, NATO has grown, bulking up its defenses and adding Finland and Sweden to its formidable front line.

Michael Hirsh is a columnist for Foreign Policy. He is the author of two books: Capital Offense: How Washington’s Wise Men Turned America’s Future Over to Wall Street and At War With Ourselves: Why America Is Squandering Its Chance to Build a Better World. X: @michaelphirsh

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