"Ukraine and all allies are ready for a complete unconditional ceasefire on land, in the air, and at sea for at least 30 days, starting as early as Monday," Ukraine's Foreign Minister Andrii Sybiha wrote.
U.S. President Donald Trump has acknowledged in private that Russia is difficult to negotiate with because they "want the whole thing," referring to Ukraine, the WSJ reported, citing sources familiar with the comments.
A notice about the airspace closure was published on the U.S. Defense Department's NOTAM (Notice to Airmen) website on May 10, as cited by Ukrainian defense news outlet Militarnyi.
Kremlin spokesperson Dmitry Peskov rejected the idea of a 30-day ceasefire between Russia and Ukraine, claiming in an interview with ABC News on May 10 that it would be "an advantage" for Ukraine.
"Our involvement in the war was justifiable, and this belongs to our sovereign rights," North Korean dictator Kim Jong Un said. "I regard this as part of the sacred mission we must execute for our brothers and comrades-in-arms."
"We have a plan B and a plan C. But our focus is plan A, the essence of which is to get everyone's support" for Ukraine's accession, EU foreign policy chief Kaja Kallas said.
"(T)he presence at the Victory Parade of a country that bombs cities, hospitals, and daycares, and which has caused the deaths and injuries of over a million people over three years, is a shame," Polish Prime Minister Donald Tusk said.
"According to the participants of the performances, their goal is to remind the civilized world of the barbaric actions of Moscow, which for many years and decades has systematically violated international law," a source in Ukraine’s military intelligence agency (HUR) told the Kyiv Independent.
"I have great hope that an agreement for a ceasefire in Ukraine will be reached this weekend," German Chancellor Friedrich Merz said on May 9, shortly before traveling to Kyiv alongside the leaders of France, Poland, and the U.K.
U.K. Prime Minister Keir Starmer, French President Emmanuel Macron, German Chancellor Friedrich Merz, and Polish Prime Minister Donald Tusk will arrive in Kyiv early on May 10.
A ship floats along the Moskva river past a construction site of a new apartment complex in front of the Russian Government's main building and a Stalin-era skyscraper, May 13, 2024, in Moscow, Russia. (Contributor/Getty Images)
Russia may face a housing shortage due to a steep decline in new residential construction, according to a forecast by the state-owned finance company Dom.RF as by pro-government outlet Vedomosti on April 13.
In the first quarter of 2025, developers reportedly launched just 8.1 million square meters (around 87.19 million square feet) of new housing projects — down 24% from the same period last year.
Dom.RF warned the decline would likely continue through the end of 2025 amid the Central Bank's high key interest rate, which currently stands at 21%, its highest since the early 2000s.
Even if rates fall to 7.5–8.5% by 2027, developers would not be able to ramp up construction quickly enough to cover the shortfall. Home sales have also dropped sharply, with 569,000 apartments sold in 2024 — a 26% decrease compared to 2023.
Dom.RF proposed subsidizing loans for developers launching new projects in 2025–2026 to increase the housing supply. It also emphasized the need for macroeconomic stabilization and lower borrowing costs to revive both construction and demand.
Russia's Central Bank has raised its key rate aggressively over the past year to counter inflation driven by war-related spending.
The tightening cycle began in July 2023 when rates stood at 8.5% and has since climbed to 21%. The policy, led by Central Bank head Elvira Nabiullina, has drawn criticism from Russian defense contractors and state-linked firms facing rising credit costs.
Russian President Vladimir Putin acknowledged the dilemma on Dec. 19, 2024, saying some experts believe the Central Bank should consider using tools other than rate hikes to fight inflation.
With inflation still rising and the economy heavily burdened by military expenditures, Russia's leadership faces mounting pressure to balance financial stability and industrial growth.
Tim Zadorozhnyy is a news editor at The Kyiv Independent. Based in Warsaw, he is pursuing studies in International Relations, focusing on European Studies. Tim began his career at a local television channel in Odesa. After moving to Warsaw, he joined the Belarusian opposition media outlet NEXTA, starting as a news anchor and later advancing to the position of managing editor.
Tim Zadorozhnyy
