Russia continues to face significant manpower demands in its Ukraine campaign, with Ukrainian intelligence estimating needs for hundreds of thousands of additional personnel through 2027 amid high casualties and slowing contract recruitment. Kremlin officials, including President Putin, have repeatedly dismissed reports of an impending large-scale forced mobilization of reservists as unfounded, emphasizing instead the regular autumn conscription of 120,000 men beginning October 10 under the year-round draft system. Recent decrees have expanded authorized armed forces strength multiple times this year, while authorities pursue contract signings, foreign recruitment, and administrative preparations without a public mass call-up announcement. The distinction between routine conscription and a new forced mobilization of reservists remains central to trader assessments of any near-term declaration.