...escalation jumps up further, this calculation may change. Hence, it will be useful to continue thinking about the elements a settlement would need to address, and how it would address them. This would depend on the constellation on the
battlefield, the maintenance of international resolve in this matter, and the level of further civilian casualties Ukraine is willing to accept. In short, a settlement will only come about if both sides find themselves in a situation where they have no other, or better, choice. Let us be ready for that...