Warming relations between Washington and Moscow may mean an end to sanctions against Russia. For some Russians, that isn’t a wholly welcome prospect.

The EU is preparing new sanctions on Russia despite a potential meeting between Vladimir Putin and Volodymyr Zelenskyy on Thursday, three sources told CNBC.

PARIS (Reuters) - French President Emmanuel Macron said on Tuesday he was in favour of imposing new sanctions on Russia in the coming days if Moscow failed to respect a ceasefire, mentioning financial services and oil and gas as possible targets.

The ultimatum from Berlin comes as Ukraine said Russia was still carrying out attacks along the front line, despite a ceasefire proposal agreed on the weekend among Kyiv's allies for a 30-day ceasefire to start Monday. The Kremlin said such an ultimatum "is unacceptable for Russia."

ISTANBUL, Turkey — Russia's delegation arrived in Istanbul for peace talks with Ukraine, Russian Foreign Ministry spokeswoman Maria Zakharova said Thursday, and a Ukrainian official said a delegation including President Volodymyr Zelenskyy was on its way the the Turkish capital Ankara.

Explore why Western sanctions against Russia failed to deliver promised outcomes, examining economic resilience, policy miscalculations, and alternative trade developments.

Also in today’s newsletter, Modi claims Indian military ‘superiority’ over Pakistan, and China’s CATL to raise at least $4bn

BRUSSELS (Reuters) -The Russian economy is in an increasingly precarious state as a result of a shift to a war mode and of Western sanctions over Moscow's invasion of Ukraine, a report by the Stockholm Institute of Transition Economics (SITE) said on Tuesday.