Trade between Russia and US has fallen 90% since 2021 – blunting the impact of any proposed tariffs or sanctions.

Moscow has “noted” US president Donald Trump’s decision to cut his deadline on a Ukraine ceasefire from 50 days to “10 to 12”.Kremlin spokesman Dmitry Peskov said Russia would continue to pursue what it calls its special military operation despite Mr Trump’s new deadline.

Donald Trump has given Russia a shorter window of 10 to 12 days to agree a ceasefire in Ukraine or face tighter sanctions, as his frustration with his Russian counterpart escalates.

Falling inflation has persuaded the central bank in Moscow to continue relaxing the country’s record borrowing costs.

Ukrainian officials say Russian strikes on the frontline region of Zaporizhzhia have killed at least 16 people and injured dozens more.

US President Donald Trump has said he will slash the 50-day deadline he gave for Russia’s Vladimir Putin to reach a ceasefire with Ukraine by weeks, to just “10 or 12 days” from now.

The European Union and Britain on Friday sought to ramp up economic pressure on Russia to halt the war in Ukraine by slashing a price cap meant to choke off revenues from key oil exports.The EU and Britain said they would lower the cap on Russian oil exported to third countries around the world to 15 percent below market value.