Russia and Ukraine must reach their own agreement, says Putin

At the Eastern Economic Forum in Vladivostok, Russian President Vladimir Putin stated that a resolution to the conflict must primarily be reached between Russia and Ukraine, noting that other nations can only offer support. Putin dismissed rumors regarding potential mobilization in Russia, suggesting such claims are intended to influence upcoming elections. He also addressed military developments, claiming Russian forces are advancing on all fronts and that Russia is forced to respond to attacks on civilian infrastructure.

Beyond direct military developments, the conflict is significantly impacting global markets. The loss of agricultural exports from both Russia and Ukraine poses a potentially greater economic threat than disruptions to energy supplies. Russia and Ukraine hold substantial shares of the global market for wheat, barley, sunflower oil, and fertilizers.

Attacks on Black Sea ports, including Novorossiysk and Primorsk in Russia, as well as Odesa and Chornomorsk in Ukraine, have reduced export capacities by an estimated 35-40 percent. These disruptions to maritime infrastructure and logistics threaten to drive up global food prices and increase inflation worldwide.