Ukraine

Russia

Military & Security

Russia-Ukraine Conflict

During a meeting with military academy graduates, Russian President Vladimir Putin said Russian forces were close to securing the contested Ukrainian city of Kostiantynivka, Interfax reported on June 23.

Russia, Ukraine: Putin Escalates War Rhetoric Amid Intensifying Ukrainian Deep Strikes

Ukrainian missiles struck the Voronezh Semiconductor Devices Plant, a sanctioned defense facility that produces integrated circuits and power modules for Russian missiles, including Kh-101 and Iskander systems, Vedomosti reported on June 22.

Russia, Ukraine: Ukraine's Deep Strikes Stretch Russia's War Machine

Economics

Energy

Scores of Ukrainian drones and missiles targeted Moscow overnight, hitting Moscow's Kapotnya Oil Refinery for the second time in a week, disrupting airport operations and forcing road closures in and around the capital, Reuters reported on June 17.

Ukraine, Russia: Ukraine Hits Kapotnya as Russia's Fuel Strains Grow

The Group of Seven leaders agreed to increase deliveries of air defense systems, interceptors and long-range capabilities to Ukraine and said they were ready to grant Ukraine licenses to expand military production, Reuters reported on June 17.

Ukraine, G7, Russia: G7 Licensing Plan Will Not Quickly Fix Ukraine's Air Defense Gap

United States

Politics

Ukrainian President Volodymyr Zelensky said he had discussed strengthening Ukraine's air defenses with U.S. President Donald Trump on the sidelines of the Group of Seven summit in France, including air defense systems and possible licenses for Ukraine to produce anti-ballistic systems and missiles, RBC-Ukraine reported on June 16. 

Ukraine, U.S.: G7 Partners Press Trump on Ukraine's Air Defense Gap

Ukrainian President Volodymyr Zelensky said he had offered to meet Russian President Vladimir Putin during the Group of Seven summit in France on June 15-17, but Russia was not ready to speak despite U.S. and European support for the idea, Reuters reported on June 15.

Ukraine, Russia: Zelensky's Offer To Meet Putin Is Unlikely To Restart Ceasefire Talks

Germany

France

United Kingdom

The United Kingdom, France and Germany, known as the E3, plan to use meetings with U.S. President Donald Trump at the Group of Seven summit on June 15-17 to seek U.S. backing for a Russia-Ukraine ceasefire proposal that would use the current front line as the starting point for negotiations and include robust security guarantees for Ukraine, Bloomberg reported on June 11.

EU, Russia, Ukraine: Europe Sees Narrow Opening for Ukraine Talks as Russia Targets Kostiantynivka

Ukrainian forces struck several facilities at the Russian-occupied port of Mariupol, leaving the port without power and significantly limiting its use as a logistics hub, Reuters reported June 10.

Ukraine, Russia: Ukraine Expands Strikes on Russia's Southern Logistics Belt

Assessments

A Ukrainian flag flies in Riga, Latvia, on May 18, 2026.

Even a sustainable peace settlement would leave Kyiv grappling with a $600 billion reconstruction bill, demanding high levels of foreign direct investment and stringent governance reforms.

Ukraine's Defense Will Continue To Strain Government Finances

Technicians work at the main blast furnace at the Zaporizhstal Iron and Steel Works on Feb. 12, 2024 in Zaporizhzhia, Ukraine.

Part two of this report examines how either a comprehensive peace agreement or a severe escalation of the war would affect Ukraine's investment climate.



Scenarios for the Future of Foreign Investment in Ukraine, Part 2

An employee assembles a long-range drone in a workshop of the Fire Point company, which manufactures FP-1 deep-strike drones and FP-2 strike drones, Jan. 29 in an undisclosed location in Ukraine.

This two-part report outlines how the trajectory of the war with Russia will act as the ultimate determinant of capital allocation and economic recovery in Ukraine.

Scenarios for the Future of Foreign Investment in Ukraine, Part 1

A view taken on Dec. 13, 2023, shows pumping units at the grounds of a fuel tank farm of Russia's oil pipeline giant Transneft.

The intensifying drone strikes are unlikely to trigger an oil sector crisis or alter Moscow's war calculus, but they will financially drain Russian oil companies, even as high prices buoy the Kremlin's revenues.

Assessing the Impact of Ukrainian Strikes on Russia's Oil Sector

Europe

EU and Ukrainian flags fly outside the European Commission headquarters on Feb. 23, 2025, in Brussels, Belgium.

While a European mediator may unblock frozen peace talks, a durable peace settlement remains unlikely until both Russia and Ukraine conclude that continued war is more costly than compromise.

The Limited Promise of EU Mediation in Ukraine Peace Talks

Snapshots

Russian officers patrol central Moscow on May 5, 2026, in front of the Kremlin, a few days ahead of the Victory Day military parade, to be held at Red Square on May 9. 

While Ukraine is unlikely to attack Moscow during the May 9 parade, its expanding long-range strike capabilities will steadily increase the war's political, economic and psychological toll on Russia ahead of the September elections.

Ukrainian Strikes Put Russia on Edge Ahead of Victory Day Parade

Hungary

Peter Magyar, lead candidate of the Tisza party, speaks to reporters in Budapest on April 13, 2026, after his party's sweeping victory in Hungary's parliamentary elections.

With a two-thirds supermajority, the new government will be able to dismantle Orban's entrenched institutional and economic influence, as well as reset EU relations. But a swift and drastic reversal in Hungary-Ukraine relations remains unlikely.

Hungary's Pro-EU Opposition Wins Big, Ending the Orban Era

Lithuania

Latvia

Estonia

Eurasia

A soldier from the "Taifun" unmanned aerial vehicle unit prepares a new strike drone for flight on April 7, 2026 in Ukraine. 

Although Moscow is threatening retaliation against Baltic states over supposed involvement in Ukraine's drone attacks on Russian energy infrastructure, the Kremlin will not risk a direct military confrontation with NATO.


Direct NATO-Russia Confrontation in the Baltic Unlikely, Despite Ukrainian Strikes on Russian Energy Infrastructure 

Iran

Israel

Denmark

Italy

The European Parliament building in 2019 in Strasbourg, France. Parliament is set to hold a plenary vote March 26 on implementing the 2025 EU‑U.S. trade framework agreement.

U.S.-Iran Relations

A look at what the coming week will bring -- and a list of recommended RANE articles from the week that was.

The Weekly Rundown: A Vote on the EU‑U.S. Trade Framework, the Iran Conflict Continues

China

Japan

A large plume of smoke rises March 7 over Tehran after explosions were reported in the Iranian capital during the night.

The Weekly Rundown: The Iran War Continues, Takaichi Meets With Trump

A Ukrainian serviceman stands next to a truck equipped with a machine gun during an air raid alert in Kyiv on Jan. 24, 2026, amid Russia’s ongoing invasion.

Russia's ability to sustain its war efforts despite mounting economic strain, combined with the U.S.'s new focus on Iran, makes meaningful progress in peace talks unlikely anytime soon.

Ukraine War Enters Its Fifth Year, With No Near End in Sight

City authorities and businesses rebuild residential buildings damaged by Russian shelling in Kharkiv, Ukraine, on July 12, 2023.

While European governments can fund Ukraine's war effort this year and next, securing the investment needed to rebuild damaged infrastructure will face significant political, economic and structural hurdles.

The Challenge of Rebuilding Ukraine's Economy

<p>Ukraine is the quintessential borderland state. The country borders three former Soviet states (Russia, Belarus and Moldova) and four countries in the European Union (Poland, Slovakia, Hungary and Romania). Ukraine also has a coastline along the Black Sea to the south. Ukraine sits on the Northern European Plain, the area that has historically served as an invasion superhighway going east and west. Beyond its strategic location, Ukraine&#39;s geography has only facilitated such invasions. The country consists of flat and fertile plains, with the exception of the Carpathian Mountain range that arches into the far west of the country. But even these mountains can be penetrated and have not posed a significant barrier to invasion. Given such lack of barriers, Ukraine&#39;s wide-open geography is inextricably linked to that of Russia. Ukraine&#39;s agricultural and industrial belts have traditionally been integrated with Russia&#39;s, and Ukraine serves as the primary transit state for Russian energy exports to Europe. Due to its location and abundance of agricultural and mineral resources, Ukraine has been contested between regional powers for centuries. This competition is currently playing out in an extreme form today, with a Western-backed government confronting a Russian-backed uprising in eastern Ukraine. Further complicating the situation is the fact that Ukraine has several population and political cores, including Lviv in the west, Kiev in the center and the eastern cities of Donetsk and Luhansk. These different cores make administering Ukraine difficult. The current crisis in Ukraine is therefore merely the latest iteration of the country&#39;s internal divisions and the long-standing East-West conflict over the country. Maintaining sovereignty and unity in the face of this competition is Ukraine&#39;s primary geographic challenge.</p>

SITUATION REPORTS

Russia, Ukraine: Putin Escalates War Rhetoric Amid Intensifying Ukrainian Deep Strikes

Russia, Ukraine: Ukraine's Deep Strikes Stretch Russia's War Machine

Ukraine, Russia: Ukraine Hits Kapotnya as Russia's Fuel Strains Grow

Ukraine, G7, Russia: G7 Licensing Plan Will Not Quickly Fix Ukraine's Air Defense Gap

Ukraine, U.S.: G7 Partners Press Trump on Ukraine's Air Defense Gap

Ukraine, Russia: Zelensky's Offer To Meet Putin Is Unlikely To Restart Ceasefire Talks

EU, Russia, Ukraine: Europe Sees Narrow Opening for Ukraine Talks as Russia Targets Kostiantynivka

Ukraine, Russia: Ukraine Expands Strikes on Russia's Southern Logistics Belt

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