President Zelensky meets US officials
Russia’s economy is reportedly on track to experience its deepest recession since the fall of the Soviet Union as it grappes with the impact of sanctions over its war in Ukraine.
Government analysis has found it is facing a £256bn hit, with GDP set to shrink by 15 per cent this year, according to The Telegraph.
Russia suffered another blow to its economy this week when the European Union decided to ban nearly all oil imports from the country in response to the invasion.
Other nations and companies have moved to cut ties with Moscow and its key industries as the war in Ukraine wages on.
UK defence authorities said on Wednesday Russian forces had pushed closer to the centre of the Sieverodonetsk as the fighting intensified over the last two days.
“Over half of the town is likely now occupied by Russian forces, including Chechen fighters,” it said.
