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.
The United States embassy in Kyiv on May 9 issued a warning that Russia could launch "a potentially significant" attack in the coming days, despite Putin's self-declared Victory Day "truce."
The sanctioned oil tankers have transported over $24 billion in cargo since 2024, according to Downing Street. The U.K. has now sanctioned more shadow fleet vessels than any other country.
Kremlin spokesman Dmitry Peskov in Saint Petersburg on June 6, 2024 (Anton Vaganov / POOL / AFP)
The Kremlin on April 7 announced it is “closely monitoring” oil markets after the price of its key export grade, Urals crude, plunged towards the $50 mark.
“We are very closely monitoring the situation, which is currently characterized as extremely turbulent, tense, and emotionally overloaded,” Kremlin spokesperson Dmitry Peskov told Interfax.
Peskov attributed the price decline to "the US decision to introduce tariffs for most countries in the world."
Urals crude fell to $52.76 per barrel at the Baltic port of Primorsk on Friday, according to Argus Media data cited by Bloomberg.
This is well below the $70 per barrel benchmark used for Russia's 2025 budget planning.
With oil and gas revenues accounting for nearly 30% of budget proceeds in January-February, according to government data cited by Bloomberg, the price decline poses significant fiscal challenges.
A price collapse could destabilize Russia's federal budget, as military expenditures for the Ukraine conflict have driven government spending sharply upward in early 2025.
If price fall below the $50 mark, it would push Russia's key oil export to its weakest level in nearly two years.
As recently as late March, global oil prices were actually rising, driven by U.S. sanctions on Iran and ongoing discussions on a potential ceasefire in Russia's war in Ukraine, with Brent crude reaching $72.52 a barrel, while U.S. West Texas Intermediate crude increased to $68.68.
Despite this, Russian oil and gas revenue fell by 17% year-on-year in March to 1.08 trillion rubles ($12.8 billion), as forced discounts on crude and a stronger ruble hit budget inflows, the Moscow Times reported on April 3, citing Russia's Finance Ministry data.
The ministry said the government lost roughly 230 billion rubles ($2.7 billion) in tax income compared to March 2024, with oil and gas revenues accounting for one-third of the total state income.
Energy revenues remain a key source of financing for the Kremlin's war against Ukraine, despite Western sanctions and a price cap designed to limit Moscow's earnings from oil exports.
Dominic Culverwell
