Drone Strike Causes Fire at Power Plant Supplying Moscow

Finnish President Alexander Stubb, alongside Italian leader Giorgia Meloni, has engaged in discussions with former US President Donald Trump regarding a 28-point peace plan aimed at resolving the ongoing conflict in Ukraine. Stubb, who has a favorable rapport with Trump, refrained from disclosing specific details about their conversation during an interview at the Group of 20 leaders meeting in Johannesburg. He emphasized the need for patience in peace negotiations and noted that European nations were not previously informed of Trump's proposal.

Russia's stock market closed lower, with the MOEX Russia Index remaining unchanged, indicating a period of stagnation in trading activity. This development reflects ongoing market uncertainties and investor sentiment in the region.

The Kremlin has devised a strategy to distance President Putin from the unpopular VAT tax increase, instructing state-controlled media to avoid linking him personally to the rise. This move comes amid growing discontent among the Russian populace regarding economic policies.

President Donald Trump's latest diplomatic efforts in Ukraine focus on securing financial agreements as part of his peacemaking initiatives. This approach reflects his ongoing strategy to leverage dealmaking in shaping U.S. foreign policy.

Oil prices have settled at their lowest in a month as the U.S. intensifies efforts to negotiate a peace deal between Russia and Ukraine. This decline reflects a reduction in the risk premium associated with oil prices, as traders react to the potential implications of peace talks on future supply and demand dynamics.

Oil futures closed lower as the U.S. urged Ukraine to accept a peace plan to resolve the ongoing conflict with Russia. This decline reflects market concerns over geopolitical tensions and their impact on oil prices.

French drone manufacturers are exploring potential deals in Ukraine, despite uncertainties surrounding funding. This interest comes as the country seeks to bolster its defense capabilities amid ongoing conflict. The developments highlight the strategic importance of drone technology in modern warfare and the growing market for defense-related innovations.

U.S. sanctions targeting Russia's largest oil producers, Lukoil and Rosneft, have begun to impact Moscow's ability to sell crude oil, which is vital for its economy. These sanctions are part of broader efforts to weaken Russia's financial capacity amid ongoing geopolitical tensions.