Russia Ukraine war latest: Kyiv hits major oil refinery in huge drone attack as North Korea ‘prepares more troops’ – UK Times

Ukraine‘s military said on its drones hit oil facilities in Russia’s Ryazan and a microelectronics production plant in Bryansk.

It said in a statement that the attacked facilities were involved in supplying Russia’s army.

Putin and North Korean leader Kim Jong Un signed a “comprehensive strategic partnership” pact in Pyongyang on 19 June, 2024, including a mutual defence clause in case of aggression against either country.

Kim expressed “unconditional support” for “all of Russia’s policies”, including “a full support and firm alliance” for Russia’s war in Ukraine. Putin has said Russia would help North Korea build satellites.

The US and South Korea say North Korea has shipped ballistic missiles, anti-tank rockets and millions of rounds of ammunition for Russia to use in the war. Moscow and Pyongyang have denied weapons transfers.

Ukraine, South Korea and the US say Kim has sent more than 11,000 troops to fight for Russia in its western Kursk region, part of which has been held by Ukraine since August. Ukraine says many North Korean soldiers have been killed and wounded. Moscow has never confirmed or denied their presence.

Trump has been critical of US support for Ukraine in its war with Russia, and has said he could end the war in 24 hours if elected – although advisers concede it will likely take months if not longer.

He has suggested Ukraine may have to yield some of its territory if a peace deal is to be struck.

Trump and his pick for national security adviser, US Representative Michael Waltz, have criticized the Biden administration’s decision in November to allow Ukraine to use US-provided missiles to strike within Russian territory.

Trump has also said that under his presidency the US would fundamentally rethink Nato’s purpose and Nato’s mission.

The Russian economy has shown resilience during the three years of war in Ukraine and Western sanctions. However, as the war approaches its fourth year, the economy faces major challenges with key economic policymakers at odds on how to address them.

Below are the key challenges for the Russian economy in 2025:

• Russian annual inflation reached 9.5% in 2024, driven by high military and national security spending, which is set to account for 41% of total state budget spending in 2025, state subsidies on loans, and spiralling wage growth amid labour shortages.
• Inflation tops the list of economic woes in public opinion polls, with prices for staple foods such as butter, eggs, and vegetables showing double-digit growth last year.

• The government projects that economic growth rates will slow to 2.5% in 2025 from around 4% in 2024 as a result of measures to cool down the overheated economy, while the International Monetary Fund (IMF) projects growth at 1.4% this year.
• The pro-government economic think tank TsMAKP estimated that many industrial sectors outside defence have been stagnating since 2023, raising prospects of stagflation, a combination of high inflation and economic stagnation.

• Russia’s budget deficit reached 1.7% of GDP in 2024, while the country’s National Wealth Fund, the main source of financing the deficit, has been depleted by two-thirds during three years of war.
• The government raised taxes to bring the deficit down to 0.5% of GDP in 2025, but its revenues could also fall due to the latest U.S. energy sanctions, which targeted Russia’s oil and gas sector.

Ukrainian-Russian businessman German Khan’s wife has lost her appeal to overturn British sanctions imposed on her following Russia’s invasion of Ukraine.

The UK maintains a 100 per cent record of defending sanctions challenges.

Britain slapped sanctions on Anzhelika Khan in April 2022 after taking similar measures a month earlier against her husband, German, who co-founded investment group LetterOne and whose net worth Forbes estimates at $8.8 billion.

She argued that the sanctions were unlawful because she had no involvement in Russian politics and held no influence over the Russian government.

Her case was dismissed last February. The Court of Appeal on Friday rejected Khan’s appeal against that ruling.

Judge Rabinder Singh said in a written ruling that he did not accept an argument from Khan’s lawyer that there was no rational connection between Khan being sanctioned and its purpose.

A Russian draft law proposes punishment of up to seven years in prison and heavy fines for the public disclosure of information about the supply chains of sanctioned goods imported into Russia and about payment systems.

Russia still relies on many high-tech goods produced in the West, such as microchips, which are banned for export to Russia. These goods are essential for keeping many Russian industrial enterprises operational, including in the defence sector.

To bypass Western sanctions, including those imposed over the conflict in Ukraine, Russia has established complex logistical schemes through intermediaries in third countries and an international transactions infrastructure.

Many Russian officials and businesspeople have been calling for logistics and payments information to be classified as a state secret.

The authors of the draft referred to websites disseminating leaked customs data, as well as information appearing in traditional media or on social media about logistics schemes for delivering sanctioned goods.

The Ukraine war is about Russia’s national security and not about oil prices, the Kremlin said on Friday after U.S. Donald Trump called for a cut in the price of oil.

Trump on Thursday said he will demand Saudi Arabia and OPEC bring down the cost of oil.

Kremlin spokesman Dmitry Peskov, responding to a question about those comments, said the issues for Russia in Ukraine were about national security, threats to Russians living there, and the refusal of the United States and Europe to listen to Russia’s concerns.

Ukraine and its Western supporters reject those arguments, saying Russia launched the war as an imperial-style land grab.

Russian President Vladimir Putin is ready to hold a phone call with US President Donald Trump and Moscow is waiting for word from Washington that it is ready too, Kremlin spokesperson Dmitry Peskov said.

Trump said on Thursday he wanted to meet Putin as soon as possible to secure an end to the war with Ukraine and expressed his desire to work towards cutting nuclear arms.

Russian President Vladimir Putin has made clear he wants to restart nuclear arms cuts talks as soon as possible, the Kremlin said in response to comments by US President Donald Trump.

Trump said on Thursday he wanted to work towards cutting nuclear arms, adding that he thought Russia and China might support reducing their own weapons capabilities.

Kremlin spokesman Dmitry Peskov said the ball was in Washington’s court.