Ukraine-Russia News
LAST UPDATE: July 4, 2025
IMF urges continued reforms in Ukraine, sees lower growth in Russia
The IMF approved Ukraine’s 8th program review, disbursing $500M while urging deeper reforms. Russia’s growth forecast was downgraded due to sanctions.
Insight
Ukraine’s steady IMF progress highlights reform resilience amid war; Russia’s slower growth shows sanctions’ mounting toll despite near-term economic adaptations.
Russia’s Putin says he will speak to U.S. President Donald Trump later on Thursday
President Putin confirmed an upcoming call with Trump to discuss Ukraine, Iran, and broader geopolitical issues.
Insight
Though dialogue persists between Trump and Putin, tangible policy shifts remain elusive, particularly concerning Ukraine’s conflict and global energy tensions.
Zelenskiy to Discuss Halt in US Weapon Deliveries With Trump
Ukrainian President Volodymyr Zelenskiy is expected to speak with U.S. President Donald Trump to address Washington’s decision to pause certain weapons shipments to Ukraine, likely discussing its implications on the frontlines.(threads.com, bloomberg.com)
Insight
The upcoming discussion signals deep concern in Kyiv over shifting arms support from the U.S., highlighting reliance on American weaponry and potential diplomatic leverage to resume or reshape aid commitments.
Denmark vows to push EU membership for Ukraine
As it assumes the EU Council presidency, Denmark pledged to advocate for Ukraine’s EU membership. Prime Minister Mette Frederiksen expressed “We must strengthen Ukraine. And we must weaken Russia” during a meeting with Zelenskiy.
Insight
Denmark’s leadership position grants momentum to Kyiv’s EU accession bid, signaling stronger European political support at a pivotal moment—lying in tension with U.S. hesitation on arms and reflecting a broader Western strategy shift.
Russian central bank sees no risk of looming banking crisis
The Russian central bank, led by Elvira Nabiullina, ruled out any imminent banking crisis despite rising bad loans. Strong profit levels and a capital buffer of roughly 8 trillion roubles (~US $101 billion) leave the sector stable.
Insight
Elevated capital reserves and steady earnings support the central bank’s confidence. That said, maintaining macroprudential vigilance will be crucial given high interest rates and corporate refinancing pressures.
Putin told Trump Iran, Mideast conflicts should be solved diplomatically: Kremlin
The Kremlin reported that President Vladimir Putin emphasized to Trump during their call that conflicts involving Iran and elsewhere in the Middle East “should be solved diplomatically.”
Insight
Putin’s diplomatic stance serves to position Russia as a proponent of negotiation over military engagement—potentially shaping U.S. regional policy, while reinforcing Russia’s image as a global mediator in Tehran’s circle.
Trump Holds First Call With Putin After Pause in Ukraine Weapons Shipments
President Trump called Russian President Putin—their first conversation since the U.S. paused arms shipments to Ukraine. Trump urged an end to the war, but Putin reaffirmed Russia’s strategic aims and emphasized diplomacy as the path to resolve Middle East crises.
Insight
While the backchannel contact was expected, it revealed persistent strategic divergence—Trump’s renewed engagement contrasts with Putin’s firm position on Ukraine and willingness to negotiate regional issues diplomatically.
