London-traded shares of Russian largest state owned bank Sberbank dropped by 68%.

7:57 AM

EU should invest in Ukrainian defense to 'double' weapons sent to Kyiv, commissioner says.

EU Defense Commissioner Andrius Kubilius called for EU members to invest in Ukraine's domestic defense industry to increase the effectiveness and value of military aid provided to Ukraine.

6:58 AM

Minerals deal 'important part' of future security guarantees, ambassador says.

"So this economic partnership deal in itself is a very important part of the broader security... architecture... frankly, that fund will be successful if Ukraine is stable and peaceful. So in a way, it's an important part of... future security guarantees," Ukraine's ambassador to the U.S., Oksana Markarova, said.

5:09 AM

OPEC+ to accelerate oil output, potentially lowering oil prices despite Russian reliance, Reuters reports.

OPEC+, which includes Russia, agreed to a large oil production hike in June, Reuters reported on May 4, citing five unnamed sources.

3:41 AM

Fico slams Zelensky amid Moscow Victory Day security concerns.

Slovak Prime Minister Robert Fico condemned President Volodymyr Zelensky for warning "foreign delegations not to come" to Russia's Victory Day parade.

1:57 AM

'We have allies who are helping Ukraine' — Kyiv expects 3 million shells, Zelensky says.

"Russia should know that we are expecting three million artillery shells from our allies. Not only North Korea is capable of helping in the war, we have allies who are helping Ukraine," President Volodymyr Zelensky said.

11:44 PM

Romania's far-right Simion wins first round of presidential election.

Far-right Eurosceptic candidate George Simion is projected to win the first round of Romania’s presidential election on May 4, gaining nearly 40% of the votes with a majority of polling stations reporting.

10:43 PM

China's Xi to meet Putin, 'sign bilateral documents' during visit to Moscow for Victory Day celebrations.

Chinese President Xi Jinping plans to meet with Russian President Vladimir Putin during Moscow's Victory Day celebrations between May 7-10 and "sign a number of bilateral inter-governmental and inter-departmental documents" to strengthen Chinese-Russian relations, the Kremlin announced on May 4.

2:19 PM  (Updated:  May 4, 2025 10:09 pm)

KI Insights

Ukraine calendar: Events to look out for this week

9:00 PM

War update

Ukraine war latest: Zelensky rejects Putin’s 3-day ceasefire proposal as 'theatrical'; US Sanctions depend on whether Russia is 'behaving' on peace deal, Trump says

8:15 PM

US sanctions depend on whether Russia is 'behaving' on peace deal, Trump says.

"I do believe we’re closer with one party, and maybe not as close with the other. But we’ll have to see. I’d like to not say which one we’re closer to," Trump said, adding that he was pleased with the outcome of the minerals deal signed with Ukraine.

6:46 PM

Czech initiative to deliver up to 1.8 million shells to Ukraine in 2025, Pavel says.

The initiative has significantly boosted Ukraine's artillery capabilities, improving the shell ratio from 1-to-10 in Russia's favor to 1-to-2, Czech President Petr Pavel said.

5:41 PM

Putin 'constantly' considers successors, has list of candidates, Russian leader says in documentary.

In an interview with pro-Russian state journalist Pavel Zarubin for the documentary, Putin confirmed he assesses the potential of each possible successor. "Yes, I do," he replied when asked directly.

4:51 PM

US to send refurbished Patriot air defense system from Israel to Ukraine, NYT reports.

According to the publication, Western allies are also discussing the logistics of supplying additional systems from Germany or Greece as Russia escalates its attacks across Ukraine.

4:25 PM

Video

Tortured journalist and Russia’s intensified assaults | Ukraine This Week.

The Kyiv Independent’s Anna Belokur dives into the top stories of this week from the intensifying Russian spring offensive to the shocking torture and murder of Ukrainian journalist Viktoriia Roschyna. Also, the long-gestating minerals deal has finally been signed, what is in it and is it a good deal for Ukraine?

4:06 PM

Field report

'I just hate the Russians' — Kyiv district recovers from drone strike as ceasefire remains elusive

2:43 PM  (Updated:  May 4, 2025 3:51 pm)

Ukraine reportedly attacks Russian Strela electromechanical plant in Bryansk Oblast.

The Strela plant, located in Suzemka near the Ukrainian border, produces radar equipment, transformers, chokes, and other electronics for Russia's defense, aerospace, and electronics industries.

3:26 PM

Zelensky arrives in Czech Republic to discuss artillery, F-16 support.

Czech President Petr Pavel will host President Volodymyr Zelensky at the Prague Castle later in the afternoon, marking the Ukrainian leader's first visit to the country since July 2023.

2:41 PM

Russian 'Immortal Regiment' rally takes place in US capital, Ukrainian activists respond with counter-protest.

It was the first Immortal Regiment rally in the U.S. capital in six years. Ukrainian nationals staged a protest in response.

11:53 AM

4 killed, 30 injured in Russian attacks on Ukraine over past day.

"The Russians are calling for a ceasefire on May 9 while striking Ukraine every single day. This is top-level cynicism," President Volodymyr Zelensky said, commenting on the attacks.

1:53 AM  (Updated:  May 4, 2025 11:08 am)

Russian drone attack on Kyiv injures 11 people, including 2 children, damages shopping mall.

Debris from the drones damaged houses and vehicles in several areas of the city, including the Shevchenkivskyi, Obolonskyi, and Svyatoshynskyi districts.

11:06 AM

Ukrainian sea drones down 2 Russian Su-30 jets near Novorossiysk, military intelligence chief says.

The operation marks the first time in history that fighter jets have been downed by unmanned boats. Initially, reports confirmed the destruction of only one jet, but Ukraine's military intelligence agency (HUR) chief, Kyrylo Budanov, later clarified that two aircraft were hit.

10:21 AM

Romanians vote in presidential election after annulled 2024 result.

The vote follows the annulment of the previous first round held in November 2024, when Romania's Constitutional Court invalidated the outcome due to evidence of social media manipulation and foreign interference.

9:17 AM

General Staff: Russia has lost 956,810 troops in Ukraine since Feb. 24, 2022.

The number includes 1,340 casualties that Russian forces suffered over the past day.

7:35 AM

Kim Jong Un touts tank development as part of North Korea’s military modernization.

In recent weeks, North Korea's leader has overseen the launch of a new naval destroyer and observed tests of new drone systems.

5:46 AM

France to ramp up AASM Hammer smart bomb production for Ukraine, media reports.

The French-made precision bombs are being transferred to Kyiv as part of ongoing defense support, and their use by Ukrainian fighter jets has grown significantly since the start of Russia’s full-scale invasion.