Ukraine's long-awaited counteroffensive and Russia's renewed commitment to continue fighting shed light on the conflict's near and long-term geopolitical and economic repercussions. Ukraine is likely to use any current offensive operations to further degrade Russia's combat strength from being able to launch any viable operations. In this brief note, we analyze the latest events in the Ukraine conflict from a geopolitical and military strategy perspective while examining the potential for long-lasting sanctions and Europe's energy shift.