Trump urges Europe to cease purchasing Russian petroleum
The Russian economy is experiencing a downturn, with its growth rate slowing down more than anticipated, according to Economic Minister Maxim Reshetnikov and the head of Russia's largest bank, Sberbank, German Gref. The expected interest rate cuts from the current 18 to 14 percent by the end of the year are not sufficient to revive the economy, as stated by Gref.
Meanwhile, tensions in Ukraine continue to escalate, with frequent clashes between Ukrainian and Russian troops along the front line. In the past 24 hours, Russian military attacks targeted fuel facilities in Ukraine, and there were 180 instances of clashes, with 55 engagements occurring near Pokrovsk.
The Donetsk region, a contested area since 2014, remains a hotspot of conflict. Approximately 216,000 civilians remain in the region, despite continuous Russian attacks, and over the past seven days, 1,830 people, including over 300 children, have been evacuated.
Ukraine has rejected the possibility of a forced withdrawal from the Donbass industrial area, a concession suggested by US President Donald Trump as a gesture to Moscow. Ukrainian President Volodymyr Zelensky has warned the West against the notion that territorial concessions in the east of the country could lead to a long-term peace with Russia.
In an attempt to de-escalate the situation, the US President has expressed his desire to continue his efforts to reach a peace agreement between Russia and Ukraine. US special envoy Steve Witkoff is expected to attend the conference of the supporters of Ukraine in Paris.
International support for Ukraine is growing, with the EU working on plans for a multinational peacekeeping force for Ukraine, according to EU Commission President Ursula von der Leyen. The German government plans to propose strengthening Ukraine's air defense at a conference of the Coalition of the Willing, involving a 20% annual increase in the number of weapons systems and their effectiveness.
The Coalition of the Willing currently comprises 26 countries that have committed to provide security guarantees for Ukraine, including deploying military contingents or providing military assistance after a ceasefire or the end of the war. Among these are Germany, Italy, the UK, and others from Europe, with the US expected to contribute a backstop role though not deploying troops directly.
The EU foreign policy chief, Kaja Kallas, believes a strong Ukrainian military is the most important security guarantee for Europe. EU Council President Antonio Costa calls for increased pressure on Russia to force President Putin to the negotiating table.
Russia has rejected plans for the possible deployment of foreign troops in Ukraine as "unacceptable". Russian President Vladimir Putin has dismissed US President Donald Trump's allegations of a conspiracy as "funny".
Ukraine and the US have held the first board meeting of a joint investment fund as part of a resource agreement between the two countries. The future of Ukraine seems to be increasingly intertwined with international relations, as the world watches the developments unfold.
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