Skip to content
Search

Latest Stories

What We're Watching

Ukraine-Russia: New Year’s fireworks

A fire is raging at a pipeline in the Podilskyi district of Kyiv, Ukraine, on January 2, 2024

A fire is raging at a pipeline in the Podilskyi district of Kyiv, Ukraine, on January 2, 2024

Make us preferred on Google

Both Ukraine and Russia started the new year with big bangs in their ongoing war. Russia has rained torrents of missiles down on Kyiv, while Ukraine has been blasting away at cities in Western Russia. So why now?

Answer #1: Air > ground. The ground war is now a grim, trench-bounded stalemate, so both sides are ramping up the air game. Russia in particular wants to smash Ukraine’s heating and electricity grid as temperatures drop, in line with Moscow’s age-old tactic of enlisting General Winter.


Answer#2: Leverage. The chances of peace talks are still remote, to be fair, but far less so than they were just a few months ago. Reports in late December said Vladimir Putin could be open to the idea of drawing a line in the steppe and freezing the conflict. And while Ukrainian President Volodymyr Zelensky has vowed to fight on, his main backers in the US are not only struggling to find him fresh cash but signaling that their objective is to bolster Kyiv’s defensive and negotiating position rather than continue open-ended fighting.

One thing to consider: the Trump effect. Both sides are doubtless trying to predict the 2024 US election outcome as they plot strategy. If Zelensky thinks arch-Putinophile Trump might win, he might be keen to explore talks in the coming months. Putin, naturally, sees things the other way around.

More For You

Thousands of people gather at the Palacio de Cibeles, seat of the Madrid City Council, in Madrid, Spain during demonstrations held outside city halls in autonomous communities across Spain in protest of the mass entry of migrants at the Ceuta border.

Thousands of people gather at the Palacio de Cibeles, seat of the Madrid City Council, in Madrid, Spain, on September 2, 2024, during demonstrations held outside city halls in autonomous communities across Spain in protest of the mass entry of migrants at the Ceuta border.

Aaron Heredia/NurPhoto
Immigration protests rock Spain Tens of thousands of people took to the streets across Spain on Wednesday in protest against Prime Minister Pedro Sánchez’s welcoming immigration policy and his handling of the immigration crisis in the North African Spanish enclave of Ceuta. In July, more than 70,000 people crossed into Ceuta from Morocco in the [...]
A police officer in protective clothing walks next to an explosive-disarming robot (EOD) at Leipzig/Halle Airport.

A police officer in protective clothing walks next to an explosive-disarming robot (EOD) at Leipzig/Halle Airport in Schkeuditz, Germany, August 5, 2026

REUTERS/Axel Schmidt
Germany and EU to hit back at Russia over drone plot The German government has formally accused Russia of orchestrating a failed drone attack at Leipzig airport last month. The drone, which approached a cargo plane that was taking weapons to Ukraine, failed to explode as planned. In response, Berlin will shrink Russia’s diplomatic presence in [...]
An electronic board displays that the secondary market yield on newly issued 10-year government bonds has risen to 3.000 percent, in Chuo Ward, Tokyo, Japan.

An electronic board displays that the secondary market yield on newly issued 10-year government bonds has risen to 3.000 percent, in Chuo Ward, Tokyo, Japan, on September 1, 2026.

Taketo Oishi / The Yomiuri Shimbun via Reuters Connect
Global bond-fire rages as investors fret about inflationInvestors around the world are selling off government bonds amid concerns about rising inflation and unsustainable spending by some large economies. The yield on 10-year bonds issued by Japan, for example, has reached its highest level in 30 years as Prime Minister Sanae Takaichi pushes a new [...]
Oil workers drilling a well in an oil field, Venezuela.

Oil workers drilling a well in an oil field, Venezuela.

REUTERS/Science Photo Library
US strikes controversial Venezuela oil dealThe US government will take a majority stake in a new company that has the rights to develop 65 million barrels of Venezuelan crude, or about one-fifth of the country’s total proven reserves. The deal aims to secure massive investment in the dilapidated Venezuelan oil industry, boost US energy security, [...]