Russian economy is “on the verge of recession”, the country’s economy minister said yesterday as Moscow hosted the St Petersburg International Economic Forum for the fourth time since invading Ukraine in February 2022.
His remarks come as Russian ambassador to the UK accidentally shared an estimate of Russia’s massive losses on the battlefield. Ambassador Andrey Kelin, talking to the CNN, dismissed the one million casualties figure but said that "about 600,000" Russian soldiers were fighting in Ukraine and said that Russia was enrolling 50,000-60,000 volunteers every month.
Yesterday, Russian president Vladimir Putin claimed that he is willing to meet Ukrainian president Volodymyr Zelensky but only for a “final phase” of talks.
He told international news outlets in St Petersburg that he would only join the talks to finally “put an end” to the conflict.
It is not the first time - nor will it be the last - that Putin has supposedly signalled a desire to end the war. Ukraine and its western backers say he is simply playing for time, appealing to Donald Trump while continuing to relentlessly bomb Ukraine in the meantime.
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Key Points
- 'Russia on the verge of recession,' Putin's economy minister warns
- Russian envoy to UK accidentally admits massive battlefield losses
- Ukraine's nuclear plant cannot restart during war, says UN nuclear watchdog
- Zelensky announces new commander of Ukraine's land forces
- Russia's defence of Iran shows need to tighten sanctions, says Zelensky
Watch: Russia's defence of Iran shows need to tighten sanctions, says Zelensky
06:40
,
Arpan Rai
North Korea will send 5,000 military construction workers to Russia, Kremlin says
06:17
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Arpan Rai
North Korea is sending 5,000 military construction workers and 1,000 sappers to Russia’s Kursk oblast, where Moscow is repairing widespread damage from a Ukrainian incursion, according to a top Kremlin official.
Presidential security adviser Sergei Shoigu said the workers would help rebuild the strategic border region, which was invaded by the Ukrainian military last August and retaken by Russian forces earlier this year.
The dispatch of the workers was discussed in Mr Shoigu’s meeting with North Korean leader Kim Jong Un, state media outlet KCNA reported on Wednesday.
Russia claims South Africa invited Putin to G20 summit
06:15
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Arpan Rai
South Africa formally invited Russian President Vladimir Putin to attend the G20 summit, a Russian diplomat has claimed.
"Last week, we received an official invitation. This is an appeal from the head of state, the president of South Africa (Cyril Ramaphosa), to his colleagues," Russian Ambassador-at-large Marat Berdyev told state-owned media outlet RIA.
The summit will take place in Johannesburg from November 22 to 23.
However, South Africa is a member of the International Criminal Court (ICC), meaning it is obliged to arrest Mr Putin on arrival. An arrest warrant was issued for the Russian leader in March 2023 over allegations of illegal deportation of Ukrainian children during Russia’s invasion of Ukraine.
Spain rejects Nato defence spending increase
06:05
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Arpan Rai
Spain has rejected a Nato proposal to spend 5 per cent of GDP on defence needs set to be unveiled next week, claiming it is "unreasonable."
In a letter sent yesterday to Nato secretary-general Mark Rutte, Spanish prime minister Pedro Sanchez said that Spain "cannot commit to a specific spending target in terms of GDP".
His comments reveal divisions in the bloc ahead next week's Nato summit in The Hague.
"For Spain, committing to a 5 per cent target would not only be unreasonable, but also counterproductive, as it would move Spain away from optimal spending and it would hinder the EU's ongoing efforts to strengthen its security and defence ecosystem," Mr Sanchez wrote in the letter seen by The Associated Press.
Ukraine's nuclear plant cannot restart during war, says UN nuclear watchdog
05:52
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Arpan Rai
The Zaporizhzhia nuclear power plant in Ukraine cannot resume operations until challenges related to the availability of cooling water and off-site power are fully resolved, the International Atomic Energy Agency (IAEA) has said.
"Based on the discussions at the site this week, it is clear that there is a general consensus among all parties that the Zaporizhzhia Nuclear Power Plant cannot start operating again as long as this large-scale war continues," the UN nuclear watchdog said in a statement.
Zaporizhzhia nuclear plant, Europe’s largest nuclear power plant (NPP) situated in Ukraine’s east, has not been generating electricity for almost three years now, and its location on the frontline of the conflict continues to put nuclear safety in constant jeopardy, the IAEA said.
“Its off-site power situation also remains extremely fragile, with only one power line currently functioning compared with ten before the conflict. In addition, the destruction of the Kakhovka dam in mid-2023 means the ZNPP does not have sufficient water to cool six operating reactors,” the statement yesterday added.
German general dismisses Putin's Taurus warnings as 'nonsense'
05:36
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Arpan Rai
A German general dismissed repeated warnings by Russian president Vladimir Putin that delivering Taurus cruise missiles to Ukraine might make it party to the war as “nonsense”.
"It is obviously nonsense and not correct that military aid - and this discussion has been going on for three years now - would constitute direct participation in the war," Major-General Christian Freuding, who is in charge of coordinating German military aid to Kyiv, told public broadcaster ZDF.
Putin-Trump meeting 'not currently on the table', Kremlin says
05:30
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Arpan Rai
A meeting between Vladimir Putin and Donald Trump is not currently on the table, the Kremlin has said.
"Until the necessary 'homework' is done to remove the irritants in our relations with the United States, it makes no sense to organize a meeting," Kremlin spokesperson Dmitry Peskov said.
The US President has repeatedly raised the issue of meeting with Mr Putin, saying it would help accelerate efforts to end the war in Ukraine. However, the pair have not met since he began his second presidency in January.
Zelensky to attend Nato summit in Hague - reports
05:08
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Arpan Rai
Volodymyr Zelenskyy is scheduled to attend the Nato summit in The Hague later this month, according to reports.
A source in the Ukrainian presidency told AFP that Mr Zelensky would attend the summit, scheduled for June 24-25.
“The decision will be made on the eve of the summit. This is just the schedule,” the source said.
They described the meeting as “an opportunity to maintain support and promote a ceasefire”.
Zelensky announces new commander of Ukraine's land forces
04:54
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Arpan Rai
Ukrainian presiden Volodymyr Zelensky has appointed Hennadiy Shapovalov as commander of Ukraine's land forces, replacing a commander who resigned over a Russian strike on a training area.
Mr Shapovalov, whose appointment was announced in a presidential decree, had previously acted as a liaison at a Nato coordination centre in Germany. Before that, he has served as commander of the forces of the Operational Command South.
Mr Zelensky, speaking later in his nightly video address, said the incoming military chief’s experience in working with Nato would be put to good use in introducing changes in Ukraine’s forces.
"All this useful experience of this coordination and all the real combat experience of our soldiers must be applied now within Ukraine’s land forces," he said.
"Changes are needed and this is an imperative."
Mr Shapovalov takes over as head of land forces from Mykhailo Drapatyi, who tendered his resignation this month after a deadly Russian strike on a training camp in southeastern Ukraine.
Mr Zelensky reassigned Drapatyi to the post of commander of the joint forces as part of a military shakeup.
Russia's defence of Iran shows need to tighten sanctions, says Zelensky
04:41
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Arpan Rai
Russia's defence of Iran's authorities underscored the need for intensified sanctions against Moscow, Ukrainian president Volodymyr Zelensky said.
Mr Zelensky said Russia's deployment of Iranian-designed Shahed drones and North Korean munitions was proof that Kyiv's allies were applying insufficient pressure against Moscow.
"Now Russia is trying to save the Iranian nuclear programme. There cannot be any other possible explanation for their public signals and their non-public activity on this," the war-time president said in his nightly video address.
"When one of their accomplices loses their capability to export war, Russia is weakened and tries to interfere. This is so cynical and proves time and again that aggressive regimes cannot be allowed to unite and become partners,” he said.
When Russia deploys weaponry from Tehran and Pyongyang, Mr Zelensky said, "it is a clear sign that global solidarity and global pressure are not strong enough."
This morning, I visited the site where a Russian missile struck a residential building in Kyiv. The missile went through every floor, all the way down to the basement. It was deliberate terror, the same thing Russia’s army under Putin has done everywhere, from Chechnya to Syria.… pic.twitter.com/Kx709YIQ7y
— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) June 19, 2025
Russian envoy to UK accidentally admits massive battlefield losses
04:20
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Arpan Rai
Russian ambassador to the UK has accidentally confirmed Russia’s massive losses on the battlefield.
The ambassador Andrey Kelin, talking to the CNN, dismissed the one million casualties figure but said that "about 600,000" Russian soldiers were fighting in Ukraine
The figues also tallies with Ukrainian estimates from January.
Mr Kelin then answered a question on Russian army recruitment.
"I'm not a specialist in this area, but as I understand it we have 50-60,000 a month, those volunteers who are coming, recruiting, posting, and they would like to get engaged in this thing (in Ukraine)," he said.
'Russia on the verge of recession,' Putin's economy minister warns
04:07
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Arpan Rai
Russian economy is likely to face recession soon, the country’s economy minister said yesterday.
Russia is hosting the St Petersburg International Economic Forum for the fourth time since invading Ukraine in February 2022, an offensive that precipitated sweeping Western sanctions on Moscow and a widespread corporate exodus from the country.
The economy minister Maxim Reshetnikov said Russia's economy on the verge of recession, but claimed there is domestic money to spend after two years of elevated defence spending fuelled growth.
"The real question is: where are the investors?" said one Russian participant of the forum who spoke on condition of anonymity.
Sergei Aleksashenko, a former deputy governor of Russia's central bank now living abroad, said few serious businesses would consider Russia as an investment destination even if the war were to end tomorrow.
"Everyone can clearly see the situation with property rights is getting worse every day," Mr Aleksashenko told Reuters.
"Stopping the war itself does not significantly reduce the level of political risks," Mr Aleksashenko said, pointing to market risks as well.
