Vladimir Putin suffered a "phenomenal loss" over the past two years of war in Ukraine, an expert has noted in a speech delivered to the OSCE in Vienna.

Ankur Narayan, Britain's Politico-Military Counsellor at the UK delegation to the group, said that, 825 days since the beginning of the unlawful invasion ordered by the Kremlin, Russia had lost more than 465,000 soldiers, either wounded or killed on the battlefield.

Speaking on May 29, the expert noted the daily casualty rate experienced by Russia in Ukraine comes down to an astonishing 980.

He said: "Estimates in May, put that number over 1000 per day. That is around 30,000 per month. The highest rate it has been since the start of this war."

The expert also noted Ukraine managed to liberate 70,000 square miles of land Russia had seized during the first days of invasion in February 2022, adding the eastern European nation had dealt heavy blows to the Black Sea Fleet in Crimea.

He added: "To summarise. President Putin is now over two years into a war he thought would take 3 days. He is no closer to his goal of subjugating Ukraine. Instead, Russia has suffered nearly half a million casualties, and lost a great proportion of its land and sea forces.

"Economists do not need to be reminded about sunk cost fallacy. Seen objectively, the numbers point to a phenomenal loss for a country like Russia – in Russian lives, materiel and credibility."