What We're Watching

Russia fires on Kyiv

​Firefighters work at the site where an industrial area was hit by a Russian missile strike in the Kyiv region on Nov. 13, 2024.
Firefighters work at the site where an industrial area was hit by a Russian missile strike in the Kyiv region on Nov. 13, 2024.
Press service of the State Emergency Service of Ukraine in Kyiv region/Handout via REUTERS
On Wednesday, Russia attacked Kyiv, Ukraine’s capital, with both missiles and drones for the first time in 73 days, forcing some residents to take shelter in the city’s metro stations deep underground. No one was killed, but the attack suggests Russia intends to intensify the psychological war it’s waging on Ukrainian civilians.

The attack also renewed fears that, with the approach of winter, Russia will again attack energy infrastructure targets in Ukraine to leave parts of the country without power or heat for extended periods. Ukraine’s state-owned national power company announced on Wednesday that new limits will be imposed on electrical supply for businesses in and around Kyiv and in the regions of Odesa, Dnipro, and Donetsk.

Outgoing President Joe Biden has signaled he will do all he can in the final weeks of his administration to help Ukrainian forces keep Russia’s military at bay and strengthen its negotiating position in eventual peace talks. Meeting in Brussels with NATO officials, US Secretary of State Antony Blinken pledged that the Biden administration will “continue to shore up everything we’re doing for Ukraine” before the inauguration of President-elect Donald Trump.

More For You

Mastercard Economic Institute's Outlook 2026 explores the forces redefining global business. Tariffs, technology, and transformation define an adaptive economy for the year ahead. Expect moderate growth amid easing inflation, evolving fiscal policies, and rapid AI adoption, driving productivity. Digital transformation for SMEs and shifts in trade and consumer behavior will shape strategies worldwide. Stay ahead with insights to help navigate complexity and seize emerging opportunities. Learn more here.

President Donald Trump delivers an address to the nation from the Diplomatic Reception Room of the White House, in Washington, D.C., U.S. Wednesday, Dec. 17, 2025.
Doug Mills/Pool via REUTERS

Less than one day after US President Donald Trump declared a military blockade of sanctioned oil tankers from Venezuela, he addressed the nation during a rare primetime speech – but didn’t talk about Venezuela.