Russia continues to address manpower shortfalls in its Ukraine campaign through expanded contract recruitment targets, a year-round conscription system, foreign fighters, and incremental army size increases via presidential decrees, while avoiding a public announcement of new forced mobilization similar to September 2022. Officials including President Putin have repeatedly dismissed such reports as unfounded ahead of and after the September 2026 State Duma elections, with the most recent decree adding 15,500 personnel expected to come from volunteers rather than reservists. Regional exercises, tighter registration enforcement, and electronic summons systems signal administrative readiness, yet recruitment shortfalls and battlefield losses sustain speculation. Ukrainian assessments point to possible covert or regional call-ups of up to 300,000 in 2026-2027, though no decision for a formal nationwide announcement has been confirmed. Traders weigh these signals against the political risks of any overt move.