5 Ukrainian regions, ban on NATO, limits on Kyiv's army — Russian media publishes Moscow's official peace demands
The Russian delegation handed Ukraine a so-called "peace memorandum" with its proposals for a ceasefire during the second round of peace talks in Istanbul, Russian-state media outlet TASS reported on June 2, publishing the alleged document.
The Russian memorandum began circulating online following the talks between Russia and Ukraine in Istanbul, during which the parties again failed to reach a ceasefire.
Among Russia's key demands is the official recognition of Russia's annexation of Crimea, as well as the annexation of Ukraine's Kherson, Donetsk, Zaporizhzhia, and Luhansk oblasts, none of which Moscow controls in full.
Read also: Operation Spiderweb — everything we know about Ukraine's 'audacious' attack on Russia's heavy bombers
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Trump's plan to cut off Russian oil funds could raise prices for everyone
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Oil markets haven't reacted much to Trump's threat yet, largely because of uncertainty around whether Trump will follow through and, if so, how. China on Tuesday also appeared unfazed. A spokesperson for its foreign ministry told reporters that 'coercion' wouldn't end conflict in Ukraine. India has yet to comment. But using heavy tariffs to stop countries buying Russian oil would be a blunt tool – and while they could significantly squeeze Russia's war funding, they could also unleash more havoc on the rest of the world. A 'sledgehammer' In the wake of Russian President Vladimir Putin's invasion of Ukraine, the US, United Kingdom and European Union threw up import bans and price caps on Russian oil. But Russia's exporters adapted quickly, rerouting the flow of the country's vast supplies from West to East, where buyers, especially in China and India, significantly stepped up purchases of discounted fuel. Three and a half years later, the war is grinding on. 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