Russia seems to be preparing a significant offensive in Ukraine as it is moving troops toward key positions on the front, the Financial Times reported on May 13, citing undisclosed Ukrainian intelligence officials.
President Volodymyr Zelensky said he will meet with Turkish President Recep Tayyip Erdogan in Ankara, but said both leaders are ready to fly to Istanbul if Russian President Vladimir Putin chooses to attend the talks there.
Andriy Yermak, Zelensky's chief of staff, said that the new pontiff had a phone call with Zelensky on Monday, during which the pope expressed willingness to facilitate meetings between global leaders and vowed to support efforts for "a just and lasting peace."
In an interview with French broadcaster TF1 on May 13, Macron discussed new Russia sanctions and stationing French nuclear weapons in other European countries as a deterrent against Russia.
Performing their song "Bird of Pray," Ukrainian band Ziferblat passed the Eurovision semi-finals on May 13, qualifying Ukraine for the grand final on May 17.
Kremlin spokesperson Dmitry Peskov confirmed that a Russian delegation will be in Istanbul on May 15 for direct peace talks with Ukraine. Foreign Minister Sergey Lavrov and Putin’s foreign policy aide Yuri Ushakov will likely represent Russia.
The move follows Ukraine's ratification of the minerals agreement, deepening U.S.-Ukraine economic ties and signaling expanded U.S. involvement in Ukraine's long-term recovery.
"Ukraine has initiated a coordinated campaign to vilify Hungary in order to undermine our initiative to hold a poll on (Kyiv's) EU membership," Hungarian Prime Minister Viktor Orban said.
The Russian flag flies above the headquarters of the Russian Central Bank in Moscow, Russia, on March 18, 2016. (Photo credit: Andrey Rudakov/Bloomberg via Getty Images)
Russia's Central Bank hiked its key interest rate by 350 basis points to 12% on Aug. 15 in an attempt to halt the sharp decline of the ruble.
The decision came after an emergency meeting called when the ruble briefly broke through 100 to the U.S. dollar on Aug. 14 for the first time since March 2022.
The currency exchange rate has since then slightly dropped below the 100 threshold only to steadily rise to 99.08 by 4:02 p.m. Moscow time. Bloomberg commented that the move failed to prop the currency up as it remains among the three worst performers in developing economies this year.
Despite a summer bump in oil revenues, the Russian economy continues to be battered by Western sanctions and the costs of waging war in Ukraine. More countries have divested from Russian oil and gas, slashing Russia's export income to half its prewar levels.
Moreover, Russia has doubled its 2023 military spending to over $100 billion, or a third of the state budget.
Maxim Oreshkin, economic adviser to Russian dictator Vladimir Putin, blamed the ruble's fall on Moscow's central bank.
Igor Kossov
