The EU is preparing new sanctions on Russia despite a potential meeting between Vladimir Putin and Volodymyr Zelenskyy on Thursday, three sources told CNBC.

PARIS (Reuters) - French President Emmanuel Macron said on Tuesday he was in favour of imposing new sanctions on Russia in the coming days if Moscow failed to respect a ceasefire, mentioning financial services and oil and gas as possible targets.

KYIV: Ukraine's President Volodymyr Zelenskyy says he will be waiting for Russian leader Vladimir Putin in Ankara on Thursday (May 15) for talks. Putin hasn't yet said whether he will be at

The ultimatum from Berlin comes as Ukraine said Russia was still carrying out attacks along the front line, despite a ceasefire proposal agreed on the weekend among Kyiv's allies for a 30-day ceasefire to start Monday. The Kremlin said such an ultimatum "is unacceptable for Russia."

Zelenskyy said Tuesday that “if Putin does not arrive and plays games, it is the final point that he does not want to end the war.

Also in today’s newsletter, Modi claims Indian military ‘superiority’ over Pakistan, and China’s CATL to raise at least $4bn

BRUSSELS (Reuters) -The Russian economy is in an increasingly precarious state as a result of a shift to a war mode and of Western sanctions over Moscow's invasion of Ukraine, a report by the Stockholm Institute of Transition Economics (SITE) said on Tuesday.

Russia has spent most of its National Wealth Fund in the past few years, with liquid funds potentially being depleted in 2025, one economist says.