Although Moscow declared on April 28 that it would halt all military actions from May 8 to midnight on May 11 to mark Victory Day, strikes on civilian areas have continued.
Under Soviet dictator Joseph Stalin's rule, millions of Ukrainians died during the Holodomor, a man-made famine in 1932–1933. The dictator also oversaw mass deportations, purges of Ukrainian intellectuals and leaders, and the suppression of the Ukrainian language and culture.
According to the Security Service of Ukraine (SBU), this marks the first time Ukrainian authorities have exposed a Hungarian military intelligence network conducting activities harmful to Ukraine.
Delegations from 35 countries and the Council of Europe gathered in Lviv as EU officials prepare to approve both new defense aid and steps toward establishing a tribunal for Russian leadership.
The ruling marks a significant victory for RFE/RL amid growing concerns about U.S. funding cuts to independent media countering Russian disinformation.
U.S. Cardinal Robert Prevost was elected the new pope and leader of the Roman Catholic Church on Thursday, taking the name Pope Leo XIV, a senior cardinal announced on May 8 to crowds gathered in St. Peter’s Square, according to Vatican News.
George Simion, leader of Romania's far-right AUR party, who won the first round of the presidential election with nearly 40% of the vote, reiterated that if elected, he would oppose any further assistance to Ukraine and shift Romania’s focus inward.
Russian President Vladimir Putin and Chinese President Xi Jinping hailed their countries' relationship on May 8, vowing to increase cooperation in all areas, including military ties.
"There is Turkey, which maintains channels of communication. And then, above all, there is the People's Republic of China, which, more than anyone else, has the means to make (Russian President Vladimir) Putin come to the negotiating table and soften his demands," Polish Foreign Minister Radoslaw Sikorski said on May 8.
The United States will be ready to "walk away" from the negotiating table if it does not see Russia making progress in negotiation to end the war, U.S. Vice President JD Vance told Fox News on May 8.
Slovak Prime Minister Robert Fico arrived in Moscow on May 9 to celebrate Victory Day, commemorating the 80th anniversary of the defeat of Nazi Germany in World War II.
US President Donald Trump on May 8 called for a "30-day unconditional ceasefire" between Ukraine and Russia. Writing on Truth Social, Trump expressed his hope for "an acceptable ceasefire," with both countries "held accountable for respecting the sanctity of... direct negotiations."
President Volodymyr Zelensky had a "constructive" phone call with United States President Donald Trump on May 8, discussing the war, continued pressure on Russia, and a potential ceasefire.
Russian Central Bank in Moscow. Western states have frozen $300 billion in reserves belonging to the bank. April 4, 2023. (Vlad Karkov/SOPA Images/LightRocket via Getty Images)
The Group of Seven (G7) is increasing efforts to confiscate frozen Russian central bank assets for Ukraine’s benefit, the Financial Times reported on Dec. 15.
The decision could be made in the next few months, a U.S. source told the Financial Times. The G7 leaders may discuss the issue in February 2024, close to the two-year anniversary of Russia’s full-scale invasion of Ukraine, according to the newspaper.
This comes as financial support for Ukraine has stalled in Washington and Brussels due to internal disputes. The seized assets could be funneled into Ukraine’s war and reconstruction efforts, aiding the country as it faces mounting pressure on the battlefield.
The Russian central bank assets were frozen in the West after Russia launched its full-scale invasion of Ukraine in February 2022.
The plan to confiscate the $300 billion in frozen reserves belonging to the Russian central bank has widespread support from Kyiv and Brussels but has been bogged down by legal issues.
However, Washington has intensified discussions on finding a legal path with the G7 in recent weeks.
“G7 members and other specially affected states could seize Russian sovereign assets as a countermeasure to induce Russia to end its aggression,” the Financial Times wrote, citing a U.S. discussion paper.
On Nov. 28, U.S. Senators also introduced a bipartisan bill aimed at confiscating assets of Russian oligarchs to be used towards the reconstruction of Ukraine.
Dominic is the business reporter for the Kyiv Independent. He has written for a number of publications including the Financial Times, bne IntelliNews, Radio Free Europe/Liberty, Euronews and New Eastern Europe. Previously, Dominic worked with StopFake as a disinformation expert, debunking Russian fake news in Europe.
Anna Myroniuk
