Several financial, economic, and military indicators suggest that Russia is preparing for a "large-scale conventional conflict with NATO", a leading thinktank has said.
The US-based Institute for the Study of War (ISW) says such a conflict could occur in the short-term - "not imminently but likely on a shorter timeline than what some Western analysts have initially posited."
It noted that Vladimir Putin's actions over the past years and recent speeches outlining his plans for his recently-secured fifth term as president focused on stabilising Russia's long-term financial future.