A month before the end of 2025, Russia recorded a significant failure of tax revenues, which deepens the financial crisis. Oil and gas revenues, VAT, and excise taxes have significantly decreased, and the budget deficit has reached record levels.
Key issues, from territories to NATO, remain open, and the peace plan is just entering its most difficult phase.
The EU warns the Donald Trump administration against granting amnesty to Putin or writing off Russia's war crimes, calling it a strategic catastrophe. The EU emphasizes the need to hold Russia accountable for crimes in Ukraine and supports the creation of a tribunal.
US President's special envoy Steve Witkoff is holding talks with Ukrainian negotiator Rustem Umerov in Florida. The meeting takes place after delegations discussed Washington's plan to end the war.
French President Emmanuel Macron will make a three-day state visit to China this week to persuade Xi Jinping to influence the Kremlin to achieve a ceasefire in Ukraine. Paris also expects China to step up efforts to influence Russia and review trade imbalances with the EU.
Russian dictator Putin plans to spend about 40% of budget funds on defense and the security bloc, which is a record since the USSR. This indicates the Kremlin's intention to continue the war, despite the budget deficit and cuts in social programs.
The meeting between Kremlin head Vladimir Putin and US President's special representative Stephen Witkoff is scheduled for December 2. This was announced by Putin's spokesman Dmitry Peskov.
US President's Special Representative Stephen Witkoff and Jared Kushner are traveling to Moscow for talks with Vladimir Putin. The talks between the US and Ukraine have focused on the de facto border with Russia.
US-Ukraine talks focused on defining a de facto border with Russia under a peace agreement. The meeting was difficult, but productive, with a discussion of the territorial issue.
Ukrainian President Volodymyr Zelenskyy is meeting with French President Emmanuel Macron in Paris. This comes amid Donald Trump's optimism about a deal to end Russia's war against Ukraine.
Andriy Kovalenko, head of the Center for Countering Disinformation at the National Security and Defense Council of Ukraine, stated that Russia will seek to destroy Ukraine and annex its territories as long as Putin's regime remains in power. He emphasized that a return to peaceful life is impossible, and Ukraine must ensure its security with a strong army.
US President Donald Trump stated that he has no deadlines for Ukraine and Russia regarding the conclusion of a peace agreement, expressing hope for successful negotiations. He also noted that Ukraine has "some difficult problems," including corruption.
NATO is stepping up preparations for a possible confrontation with Russia, while the US is reducing its military presence in Europe. The number of American troops has already been reduced in Romania, and similar steps are planned in Bulgaria, Slovakia, and Hungary.
US and Ukrainian delegations met in Florida to discuss the election schedule, the possibility of territorial exchange, and other outstanding issues. These negotiations are key to agreeing on the proposed peace deal.
Turkish Foreign Minister Hakan Fidan stated that a potential peace agreement between Ukraine and Russia would ensure peace for 50-70 years. He noted that both countries are now closer to peace, and Putin is ready for a ceasefire under certain conditions.
US Secretary of State Marco Rubio said that the US aims to end the war by creating a mechanism for Ukraine's independence and sovereignty. He added that this will allow the country to rebuild and achieve significant economic progress.
Vladimir Putin signed the state national policy strategy until 2036, which provides for the formation of a homogeneous civic identity and the integration of occupied Ukrainian territories. The document is aimed at large-scale Russification and the elimination of Ukrainian national consciousness.
The Ukrainian Defense Forces liberated Ivanivka in the Dnipropetrovsk region, driving out Russian occupiers. Soldiers of the 37th Separate Marine Brigade destroyed 53 and captured 19 Russian servicemen.
The Russian dictator will meet with a US delegation led by Steve Witkoff early next week. After that, on December 4, he will travel to India.
The Ukrainian delegation arrived in Miami for negotiations with the United States. Territorial issues and security guarantees for Ukraine are being discussed within the framework of the American peace plan.
US and Ukrainian officials are meeting in Miami to coordinate positions before Trump's delegation travels to Moscow with an updated peace plan. Key disagreements concern territories and security guarantees.
Russian dictator Vladimir Putin and propagandists of the aggressor country are spreading disinformation about the alleged "imminent collapse" of the front line in Ukraine. Analysts at the Institute for the Study of War believe that this is being done to force Ukraine and the West to agree to the Kremlin's terms.
The Russian economy shows signs of decline: Russia prioritizes a "wartime economy. " The VAT increase is likely to lead to further inflation, while reducing cash flow in the Russian economy and further stagnation.
French Foreign Minister Jean-Noël Barrot stated that Putin must agree to a ceasefire, otherwise Russia will face new sanctions. Also, according to him, the European Council may decide on frozen Russian assets as early as December 18.
US President's Special Representative Steve Witkoff offered Ukraine a 10-year exemption from US tariffs instead of Tomahawk missiles. He believes this will help revive the Ukrainian economy, while missiles will not have a significant effect in the war with Russia.
The interpreter for Hungarian Prime Minister Viktor Orbán poorly heard Putin during a visit to Moscow, leading to an inaccurate translation. Tamás Menczer, communications director for Hungary's Fidesz party, explained that she is the best interpreter, but perhaps had a bad day.
The translator of Hungarian Prime Minister Viktor Orban omitted an important sentence during a meeting with Putin in Moscow. This led to a distortion of the Russian dictator's statement on international issues.
Hungarian Prime Minister Viktor Orbán stated that after the war, Ukraine would become a buffer state between the West and Russia, as it was before the war.
Dictator Putin signed the law on the Russian Federation's federal budget for 2026–2028, which envisages a deficit and a significant increase in funding for the military and security sectors. Spending on the army and security will exceed social expenditures.
Russian dictator's spokesman Dmitry Peskov announced that Vladimir Putin will meet with US President's special envoy Steve Witkoff in the first half of the week. The Kremlin will announce the date of the meeting in due course.
