"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.
Chairman of the Central Bank of Russia Elvira Nabiullina speaks during the session as a part of the St. Petersburg International Economic Forum (SPIEF) in St. Petersburg, Russia on June 6, 2024. (Sefa Karacan/Anadolu via Getty Images)
Inflation in Russia has reached its highest levels in nearly a year, driven by war spending and rising food prices, The Moscow Times reported on Dec. 25, citing Russia's Federal State Statistics Service (Rosstat).
To curb accelerating inflation fueled by war expenditures, Russia's Central Bank has raised its interest rate from 7.5% in July 2023 to the current 21% — the highest level since the early 2000s.
Consumer prices rose 0.33% during the week of Dec. 17-23, pushing year-to-date inflation to 9.5%, surpassing the 2022 annual rate of 7.4%. Annual inflation now stands at 9.7%, with food prices surging by 11.41% — the steepest increase since October 2022.
Essential goods have seen dramatic price hikes since the start of the year, including potatoes (90.5%), onions (46.6%), cabbage (46.6%), and butter (35%).
The Central Bank’s aggressive interest rate hikes have drawn criticism, particularly from Russia’s military-industrial complex. Sergei Chemezov, CEO of state-owned defense giant Rostec, warned in October that continued rate increases could bankrupt businesses.
However, Central Bank Governor Elvira Nabiullina maintains that the high rate is essential to curb inflation, a view echoed by opposition politician Vladimir Milov.
Milov told the Kyiv Independent in November, “Chemezov is right that businesses will have to shut down at such a high rate. Nabiullina is right that the rate cannot be cut because... there will be hyperinflation like in Turkey.”
The Central Bank is expected to reassess the feasibility of further rate hikes in its next meeting as it struggles to balance inflation control with economic stability.
Rising costs of basic goods, coupled with internal economic pressures from the war, highlight the financial challenges Russia faces under its strained war economy.
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.
Oleg Sukhov
