Vladimir Putin and Russia have a maximum of two years left to fight, according to Ukraine's top spy chief. 

Lieutenant General Oleh Ivashchenko claimed this week that a loss of troops, dwindling morale and a struggling economy may impact Russia's ability to wage war by 2028.

Western intelligence services suggest Putin's nation is losing 6,000 more soldiers than it can recruit every month. Figures produced by Ukraine, meanwhile, estimate that Russia has lost more than 1.5million troops - with as many as 450,000 deaths - since 2022. 

Speaking at the Ukrainian military's intelligence service headquarters in Kyiv, Ivashchenko told The Times: 'Russia has military and economic resources for the next year, but we estimate it will end in 2028.

'Russia recruits roughly 1,000 people every day, sometimes 1,200, but look at these casualty figures. Yesterday it was 1,410, the day before it was 1,511. Of those, around 60 per cent are killed in action.'   

Another 18 months of fighting would likely result in a further 765,800 Russian casualties, with 459,480 dead and 306,320 wounded, statistics suggest. 

And such startling figures, according to Ivashchenko, have resulted in a lack of enthusiasm for the war effort across the border in Moscow. 

'Morale is very low because nobody wants to fight,' he added. 'Also the morale of the Russian population is very low: most people do not really want war.' 

The spy chief dubbed Putin 'subnormal' for waging a war in such conditions. 'Draw your own conclusions about a person who wants to kill other people to seize their territory,' he said. 

In a separate interview, Ivashchenko suggested that Russia is considerably weaker economically than it was when the full scale conflict launched four years ago. 

Much of Kyiv's war-time strategy has centred around long-range drone strikes against refineries, oil depots, factories and tankers. 

Only this week, reports suggested an oil refinery in Rostov-on-Don as well as three Russian air defence assets were struck by Ukrainian forces in an overnight operation. 

It came a matter of days after a fire was recorded at the Ryazan Oil Refinery - one of Russia's largest oil-processing refineries.

Around 40 per cent of Russia's oil-refining infrastructure has been disabled, according to the Kyiv Independent, leading to fuel shortages and a ban on exports of diesel and gasoline. 

Ivashchenko told the Ukrainian news agency: 'The main problems facing the Russian economy are a shortage of labour resources, a growing budget deficit and a deteriorating situation in the banking system. 

'At the same time, it still has enough resources to wage war against Ukraine. We do not rule out that these resources will last through 2027 to 2028.' 

The lieutenant's comments came hours after Ukrainian officials claimed five people were killed and 67 others wounded by a Russian drone which targeted a shopping mall in Pavlohrad, a city in Dnipropetrovsk region.

Shops and vehicles were hit in the attack, which Ukrainian Interior Minister Ivan Vyhivskyi said took place 'when the streets were full of people'.  

Volodymyr Zelensky later echoed that sentiment, accusing Russia of 'using drones to kill people who were simply standing near shopping centres'. 

It comes after two other malls - in the cities of Zaporizhzhia and Sumy - were also reported to have been hit by Russian air strikes earlier this week. 

On Tuesday, Zelensky said: 'Russia deliberately tried to calculate for maximum damage to life. No strike against Ukraine and against life can be left unpunished. Russia must be stopped.

'Every day we make the case to our partners for our need for interceptors. Ballistic missiles remain particularly difficult to intercept.'

Ukrainian Foreign Minister Andrii Sybiha meanwhile described Russia's decision to target his country's civilians as a 'tactic of coercion'. 

He added: 'Russia believes that relentless attacks on civilians can exhaust Ukrainians and force Ukraine into coercion.'