The comments came after Trump urged Ukraine to agree to direct negotiations with Russia, which has invited Kyiv to peace talks in Istanbul on May 15, without first agreeing to halt military operations.
A Russian drone hit a civilian freight train in Donetsk Oblast on May 12 and injured its driver, Ukrainian Railways said amid Kyiv's calls for a ceasefire.
Moscow and Hanoi agreed to negotiate and sign agreements to construct nuclear power plants in Vietnam, the two countries said in a joint statement on May 11.
The sanctions appear to be in response to Russia's rejection of a 30-day ceasefire that the U.K., alongside Ukraine, France, Germany, and Poland, demanded during a visit to Kyiv on May 10.
"We now know for sure that the great fire of the Marywilska shopping centre in Warsaw was caused by arson ordered by the Russian special services," Prime Minister Donald Tusk said on X. "Some of the perpetrators have already been detained, all the others are identified and searched for."
The publications' latest report covers the period of February 24, 2022 to May 8, 2025. Since it was last updated at the end of April, 2,857 additional Russian military personnel have been confirmed killed.
Hungary cancelled a meeting planned for May 12 with a Ukrainian delegation on the rights of national minorities, Hungary's Deputy Foreign Minister said on May 11, amid a deepening spying scandal between the two countries.
Three were injured in Russia's Kursk Oblast when the town of Rylsk was allegedly struck by a missile attack on May 11, local governor Alexander Khinshtein claimed.
This week, the world watched in anticipation for Russia’s Victory Day parade after President Volodymyr Zelensky commented that he could not guarantee the safety of those attending. Meanwhile, the European Union moves one step forward to banning Russian gas from the European continent. It is also revealed this week that U.S. Secretary of Defense Pete Hegseth has fallen out of step with the White House.
"(Russian) President (Vladimir) Putin... doesn't want to have a ceasefire agreement with Ukraine, but rather wants to meet on Thursday, in Turkey, to negotiate a possible end to the bloodbath. Ukraine should agree to this, immediately," U.S. President Donald Trump said.
A Ukrsibbank BNP Paribas Group bank branch in Kyiv, Ukraine, on Feb. 22, 2022. (Christopher Occhicone/Bloomberg via Getty Images)
The European Bank for Reconstruction and Development (EBRD) has lowered its 2025 growth forecast for Ukraine’s economy, now expecting 3.5% growth instead of the previously projected 4.7%, the bank announced in a press release on Feb. 27.
The downgrade comes as inflation accelerates due to the ongoing war. In December 2024, inflation reached 12%, driven by rising electricity costs, utility price hikes, wage increases, and the weakening hryvnia against the U.S. dollar.
According to the EBRD, Russian attacks on Ukraine’s energy infrastructure and severe labor shortages have slowed economic growth from 5% to just 2% in late 2024.
“The continuation of the war and massive attacks by Russia on Ukraine’s electricity infrastructure have caused both power shortages—forcing Ukrainians to pay high prices for imported electricity—and acute labor shortages,” the EBRD wrote.
Despite these challenges, Ukraine’s economy still grew by 3% in 2024. The EBRD predicts growth could reach 5% in 2026, but only if the war ends this year.
To curb inflation, Ukraine’s central bank has raised interest rates from 13% to 14.5% since December and may increase them further. The bank previously projected inflation would peak at 15% by mid-2025 before falling to 8.4% by year-end.
Meanwhile, Ukraine’s 2025 budget deficit is expected to reach 19.4% of GDP, but the country has secured $38.4 billion in foreign aid to cover the shortfall. This includes $13.7 billion from the EU, $22 billion from G7 countries using frozen Russian assets, and $2.7 billion from the IMF.
Despite ongoing wartime challenges, the EBRD sees several factors supporting Ukraine’s economy in 2025: resilient businesses, a functioning Black Sea trade corridor, strong government spending, and increased military orders for domestic manufacturers.
Dominic Culverwell
