The situation in Ukraine on the second anniversary of Russia’s full-scale invasion remains “grave, but it is far from hopeless,” the Institute for the Study of War (ISW) said in its Feb. 24 report. Ukraine on Feb. 24 entered its third year of Russia’s all-out war facing ammunition shortages and uncertainties over U.S. military aid, as well as persistent resolve to keep fighting Russian aggression. ISW analysts said that Russia has made recent gains, but at a steep cost. “Russian forces have regained the initiative across the theater and are attacking and making gains,” the ISW said. “Those gai…