Fans of our foreign editor, Tom Arms, will be delighted to hear that he has started a weekly podcast, Transatlantic Riff.

Happy Birthday Ukraine, the Russian people, Europe, America and all the rest of the world.

The Ukraine War is one year old. An estimated 300,000 lives have been lost so far – and that is only the soldiers.

More than 5.2 million refugees have fled the fighting, mainly women and children who have left fathers, sons and husbands behind. Those who remain in Ukraine live in daily fear of Russian missile attacks. Many are without water, electricity or heating.

The ripple effects of the Ukraine War have encompassed the world. A trillion dollars’ worth of damage has been inflicted on Ukraine and the war has so far cost Europe and America an estimated $215 billion and this is only the beginning.

The Ukraine War has closed key gas and oil pipelines from Russia to Europe and forced Europeans to seek alternative supplies from America and Middle East. This in turn has pushed energy prices to crisis levels.

Inflation has been fuelled by energy problems and food shortages as Ukraine, Russia and Belarus are major suppliers of grain, sunflower oil and fertilisers.

The war has also produced tectonic diplomatic shifts. It has united Ukrainians and provided them with a clear national identity reinforced by a charismatic leader. Yes, Putin is right when he says Ukraine’s history is closely linked with that of Russia. But its future is not.

The war has also re-united Europe and NATO. For years America has complained about low levels of European defense spending, especially in Germany. Donald Trump even threatened to withdraw from the alliance. That has ended. Europeans are spending more and sending aid to Ukraine. The EU financial aid is actually $5 billion more than America’s $45 billion. But America’s total commitment of humanitarian, financial and military -dwarves the contributions of all the other countries combined.

Putin claims that his invasion is a reaction to NATO enlargement. If so, the war has become a self-fulfilling prophecy as Sweden and Finland have reversed their long-standing commitments to neutrality to apply for NATO membership and Ukraine is now a de facto member of the Western Alliance, but still outside the ultimate protection of Article Five.

Vladimir Putin’s repeated threats – veiled and unveiled – to use nuclear weapons has also revived the fear of a nuclear war. As has his announcement this week that he is suspending Russia’s in arms reduction talk, formally ending inspections of nuclear weapons sites and increasing Moscow’s nuclear arsenal.

On the ground, both sides are literally dug in with trenches crisscrossing in a general north-south gash across the Eastern part of Ukraine. Russia is believed to be on the verge of throwing another 200,000 conscripts against the Ukrainian frontline. The Ukrainian, for their part are hoping that poorly-led Russian troops will exhaust themselves against their defensive wall and fall to a Ukrainian counter offensive in the spring.

China could play a crucial role either in supporting its fellow autocratic government in Moscow or abandoning it. Instead it walks a diplomatic tightrope; supporting Russia by buying its oil and gas but refusing to supply weapons – so far. This week it produced a “Global Policy Document” with the contradictory goals of protecting Ukraine’s sovereignty and recognising Russia’s national security concerns.

Meanwhile, Taiwan has increased its defense spending and America its commitment. Their concern is that China will take advantage of Washington’s increased commitment and focus on Europe to invade Taiwan. Or alternatively, Russia will succeed and embolden Beijing to take the military option.

The Ukraine War is a battle between two value systems. On the one side are structures that rely on established international law, respect for national sovereignty, territorial integrity, individual freedoms and democratic values. On the other is a belief in strongman leadership, might is right, nationalism and loathing for the current structures of the international order.

These values determine every aspect of life on both sides of the divide. For this reason neither side is likely to give up easily. The result? Many more birthdays to come.

* Tom Arms is foreign editor of Liberal Democrat Voice and author of “The Encyclopaedia of the Cold War” and “America Made in Britain".