Bloomberg: War sets Russian economy back 4 years in a quarter

9:11 PM  (Updated:  July 4, 2025 4:56 am)

'Nothing but terror and murder' — Russia pounds Kyiv with ballistic missiles in massive overnight attack.

Fires broke out across the city as Russia attacked the capital overnight on July 4. At least 14 people have been injured, with 12 of the victims hospitalized.

4:35 AM

'We haven't' — Trump denies US pausing weapons to Ukraine, despite Pentagon decision to halt shipments.

"You know, Biden emptied out our whole country giving them weapons and we have to make sure that we have enough for ourselves," Trump added after his initial denial.

2:03 AM

China's foreign minister tells EU that Beijing cannot afford Russia to lose in Ukraine, media reports.

China's Foreign Minister Wang Yi reportedly told the EU's top diplomat Kaja Kallas on July 3 that the country cannot afford for Russia to lose the war in Ukraine amid fears the U.S. would shift focus towards Beijing, the South China Morning Post (SCMP) reported, citing sources familiar with the conversation.

1:04 AM

Trump says he 'didn't make any progress' with Putin following phone call.

When asked if he had made any progress with Putin on the call, Trump responded: "No, I didn't make any progress with him today at all."

11:22 PM

Russia becomes first country to recognize Afghanistan's Taliban government.

"We believe that the act of official recognition of the government of the Islamic Emirate of Afghanistan will give impetus to the development of productive bilateral cooperation between our countries in various fields," Russia's Foreign Ministry said in a statement.

10:03 PM

War update

Ukraine war latest: Putin tells Trump Russia won't back down from its war aims in Ukraine.

9:59 PM

Culture

‘Not many events like this left’ — A Ukrainian literary festival in a city falsely claimed by Russia

9:47 PM

Russian propaganda media Sputnik shuts down operations in Azerbaijan amid tensions.

"The conditions for Sputnik Azerbaijan to continue its activities in this country are not in place," Russia Today media group CEO Dmitry Kiselyov said.

8:56 PM

In landmark ruling, same-sex couple recognized as family by Ukrainian court.

Ukraine does not currently recognize same-sex marriages or partnerships, and this court ruling may serve as a critical legal milestone in expanding rights for LGBTQ families.

8:35 PM

Ukrainian bank wins $1.5 billion appeal against Russia over lost Crimea assets.

The ruling orders Russia to pay more than $1.5 billion in damages and an additional 300,000 euros ($330,000) in legal costs to Ukraine's largest state-owned bank, according to a press release.

7:40 PM  (Updated:  July 3, 2025 8:24 pm)

Putin tells Trump Russia won't back down from its war aims in Ukraine.

The hour-long conversation between the two presidents focused on Russia's war in Ukraine and the situation in the Middle East, according to Kremlin aide Yury Ushakov.

6:31 PM  (Updated:  July 3, 2025 7:43 pm)

Military aid

Ukraine scrambles to clarify extent of US military aid pause and 'whether everything will continue'

6:28 PM  (Updated:  July 3, 2025 6:59 pm)

Ukraine signs major drone co-production deal with US Swift Beat, Zelensky announces.

Ukraine signed a major deal with U.S. company Swift Beat to co-produce various types of drones, President Volodymyr Zelensky announced on July 3 during his visit to Denmark.

12:54 PM  (Updated:  July 3, 2025 6:22 pm)

Deputy commander of Russian Navy killed in Ukrainian strike in Kursk, Russian official confirms.

Major General Mikhail Gudkov also led a brigade involved in combat operations against Ukraine. His death reportedly occurred during a Ukrainian attack on a Russian command post.

11:00 AM  (Updated:  July 3, 2025 6:10 pm)

Russia targets Ukrainian conscription offices to disrupt mobilization, military spokesperson says after Poltava attack.

"We will continue to strengthen our army, train our troops, and involve more people in defense to deliver a strong response to the enemy," said Ground Forces spokesperson Vitalii Sarantsev.

4:56 PM  (Updated:  July 3, 2025 5:25 pm)

Former Russian proxy mayor reportedly killed in explosion in occupied Luhansk.

Manolis Pilavov had been wanted in Ukraine since 2015 on charges including attempting to violently overthrow the constitutional order and violating Ukraine's territorial integrity.

3:53 PM

Ukrainian Air Force officer acting as 'FSB mole' arrested, SBU says.

The alleged spy, arrested during a special operation in Lviv Oblast, was reportedly recruited through his ex-wife, a former military officer now cooperating with Russian forces in occupied Melitopol.

6:04 AM  (Updated:  July 3, 2025 2:59 pm)

'One of Russia's most critical targets' — Ukraine confirms strike on missile battery plant in Lipetsk.

The Energia plant in Yelets produces parts for ballistic and cruise missiles, as well as batteries for drones and glide bombs. The factory was previously targeted multiple times this past May.

7:04 PM  (Updated:  July 3, 2025 2:38 pm)

Iran reportedly preparing to mine Strait of Hormuz, a possible boon for Russia's Ukraine war coffers.

If the Strait were mined, Iran could block one-fifth of global oil demand and spike world energy prices — a boon for Russia's oil-dependent economy.

1:26 PM

'A powerful secondary explosion' — Ukrainian drones destroy Russian ammunition depot in Donetsk Oblast, SBU says.

Unconfirmed videos posted to social media show a fire already burning followed by a large explosion and shockwave.

7:20 PM  (Updated:  July 3, 2025 12:56 pm)

Business

As US aid to Ukraine dries up, new platform connects American investors with Ukrainian startups

12:03 PM

Russia's attacks kill 3, injure 34 across Ukraine over past day.

Ukraine's Air Force reported that Russia used 52 drones launched from several directions, including Oryol, Millerovo, and Primorsko-Akhtarsk. Air defenses destroyed 40 of them, including 22 shot down and 18 jammed electronically.

10:46 AM

US halts Ukraine-bound weapons already staged in Poland, WSJ reports.

The shipment includes over two dozen PAC-3 Patriot missiles, more than two dozen Stinger air-defense systems, Hellfire air-to-ground missiles, and over 90 AIM air-to-air missiles intended for use with Ukraine's F-16 fighter jets, according to U.S. administration and congressional officials cited by the Wall Street Journal.

10:05 AM

Poland establishes July 11 as National Day of Remembrance for Volyn massacre victims.

The law passed both houses of Poland's parliament with reportedly near-unanimous support. Lawmakers emphasized that the victims of the massacres deserve a permanent place in the nation's collective memory.

7:47 AM  (Updated:  July 3, 2025 9:55 am)

Raybird drones to be built in UK in new joint venture with Ukraine.

Skyeton Prevail Solutions, a joint venture between Ukrainian drone manufacturer Skyeton and U.K.-based defense company Prevail Solutions, will supply the British Army with Raybird drones, the two companies announced on July 2.