The article deals with the authors’ own view on the strategic aspects of the modern Russian-Ukrainian war. It is based on analysis of Russian-Ukrainian relations from the collapse of the USSR, the Russian leadership gradual transition from political pressure, economic blackmail and informational anti-Ukrainian campaigns to open armed aggression and the capture first of part of Ukraine territory, and subsequently the decision of a large-scale invasion to destroy Ukrainian statehood. There were considered the strategic and operational situation in and around Ukraine as of February 24, 2022, as well as the strategic and operational perspectives of Russia and Ukraine separately. There were revealed the successes and failures achieved by each of the states during the two years of the war, as well as proposals regarding the Ukrainian victory strategy and immediate plans for the current year are formulated.