Negotiations in Istanbul Tuesday between Russian and Ukrainian delegations sparked optimism
Earlier Tuesday, Russia’s Deputy Defense Minister Alexander FominRussia had decided to ”fundamentally cut back military activity” in the Ukrainian capital of Kyiv and the city of Chernihiv in northern Ukraine.
Markets reacted strongly to Tuesday’s development, and the ruble gained more than 8% against the dollar and Brent Crude fell nearly 7% to $103.17 a barrel.for Russia to withdraw troops from the peninsula. Russia had indicated it intended to overtake the entirety of Ukraine over the first month of its invasion, but has recently scaled back its publicly stated intentions for the war.
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