### Overview
The final phase of the operation examines potential ties between Gamaredon and Russian security services, providing insight into the campaign's broader geopolitical implications.

### Key Observations
- **Evidence of Collaboration**: Overlapping infrastructure and techniques with known Russian state-sponsored groups.
- **Strategic Objectives**: Alignment with Russian geopolitical goals, particularly concerning Ukraine.

### Conclusion
Attribution remains a complex challenge; however, the growing body of evidence suggests a coordinated effort between Gamaredon and Russian state entities.