IMF board signs off on Pakistan review, keeps $7 billion program on track
The International Monetary Fund's (IMF) executive board approved Pakistan’s latest loan review on Monday, unlocking a critical $1.2 billion in finan...
Russian and Ukrainian delegations are set to meet in Istanbul today for the most significant peace talks since the war began, as both sides remain deeply divided over key demands and military attacks escalate on the ground.
Russian and Ukrainian officials will meet today in Istanbul for their second round of direct peace talks since 2022, amid mounting international pressure and a surge in fighting on the front lines. The latest discussions come as the two sides remain far apart on core issues, including territorial claims and military conditions for any potential ceasefire.
U.S. President Donald Trump has demanded progress, warning that Washington could reconsider its involvement if negotiations continue to stall. “If the sides are too stubborn to make peace, the U.S. will walk away,” a White House spokesperson reiterated, emphasizing Trump’s frustration with both Kyiv and Moscow.
The first round of negotiations, held on May 16, resulted in the largest prisoner swap of the war but no breakthrough on a ceasefire or peace framework. The Istanbul talks will see Ukrainian Defense Minister Rustem Umerov lead Kyiv’s delegation, while Russian presidential aide Vladimir Medinsky will head Moscow’s team.
Medinsky's comments underline Russia's position that negotiations cannot come at the cost of weakening its military advantage.
Over the weekend, the conflict escalated dramatically. Ukraine launched an unprecedented strike on Russian military targets deep inside Siberia, targeting nuclear-capable bombers and other installations. Meanwhile, Russia unleashed 472 drones on Ukrainian territory - the highest overnight count since the war began, according to Ukraine’s air force.
While Russia initially dismissed Ukraine’s calls for a ceasefire, President Vladimir Putin later proposed the idea of drafting a memorandum to outline a peace framework before formal ceasefire talks could begin. Ukrainian officials say they are still waiting for Moscow's draft, though Medinsky confirmed on Sunday that Russia had received a draft from Ukraine and would respond on Monday.
U.S. envoy Keith Kellogg said both sides are expected to present written proposals in Istanbul. Representatives from the UK, France, Germany, and possibly the U.S. are expected to attend in a support role, although the extent of their involvement remains unclear.
Ukraine’s delegation will also include Deputy Foreign Minister and senior military and intelligence officials, per a recent order by President Volodymyr Zelenskyy. According to a peace proposal seen by Reuters, Kyiv is demanding no limitations on its future military capacity, no recognition of Russian sovereignty over occupied territories, and reparations for war damages.
The document also proposes using the current front line as a basis for future territorial negotiations. Russia currently occupies just under 20% of Ukrainian territory - about 113,100 square kilometers, roughly the size of the U.S. state of Ohio.
Donald Trump has expressed hope that a peace deal is achievable. He warned that if Putin continues to delay, the U.S. could impose stricter sanctions on Russia.
Whether the talks in Istanbul can deliver real progress remains uncertain, but the international community is watching closely as the war nears its fourth year with no end in sight.
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