Fitch Ratings: Ukraine war looks set to continue well into next year

Russia's war against Ukraine could drag on for a long time.

The international agency Fitch Ratings believes that neither side has an advantage right now, RBC-Ukraine reports.

The war looks set to continue well into next year, with the prospects of any negotiated political settlement weak, the analysts believe.

According to the agency, the Ukrainian government, reflecting overwhelming domestic public opinion, appears unlikely to cede any substantial territory lost to Russia.

"We judge President Putin will continue to pursue an objective of undermining the sovereign independence of the Ukrainian state," the message says.

"At the same time, it is not clear either side will have sufficient military superiority to deliver on objectives, which could result in a long-drawn-out conflict. The attritional nature of Russian military tactics, which includes the widespread destruction of physical infrastructure, is resulting in huge economic as well as human costs," Fitch said.