Trump has reaffirmed his intention to broker peace in Ukraine, declaring earlier this month that “Putin wants to meet” and that such a meeting is being set up. In the past, he has criticized U.S. military aid for Ukraine and even vowed to end the conflict in a single day if elected.

For Russia, the return of Donald Trump provides a chance to end western sanctions against it, and provide solace for its appalling war losses.

Russia says it has detected a shift from U.S. President-elect Donald Trump and his team towards recognising the "realities" on the ground in Ukraine, and sees this as a welcome sign as it prepares to study his plan for ending the war.

The barrage appeared to be one of the largest recent assaults in Ukraine’s campaign to damage Russia’s war machine on its home territory.

Ukraine struck Russian regions with a major drone and missile attack overnight, damaging at least two factories and forcing schools to close in a major southern Russian city, according to Russian officials and media.

Russia's vast Arctic oil business is facing major disruption from U.S. sanctions on its tankers and depots, stranding crude supplies previously snapped up by Asian buyers in storage, according to three sources familiar with its logistics.

Oil-freight derivatives trading surged to the highest in at least a decade as the Biden administration’s sanctions on Russia continued to propel supertanker rates higher.