Russia rejects Turkish ceasefire push in Ukraine ahead of Nato summit, sources say
Russia once again rejected a Turkish proposal to declare a ceasefire and open talks between Moscow and Ukraine earlier this month, several sources told Middle East Eye.
Turkish Foreign Minister Hakan Fidan made the proposal to his Russian counterparts during his visit to Moscow on 16-17 June, Russian and Ukrainian sources with knowledge of the matter told MEE.
“Fidan told his counterparts that there should be at least some broad idea of how to return to negotiations, and a window for a ceasefire,” one Russian source said.
“However, Moscow politely refused to discuss the idea.”
Moscow remains firm in its position, saying that Kyiv’s recognition of Russia’s annexation of the provincial borders of Donbas in eastern Ukraine remains a prerequisite for any durable agreement.
Fidan met several high-ranking Russian officials during his visit, including Foreign Minister Sergey Lavrov and President Vladimir Putin.
Russia currently controls more than 80 percent of the Donetsk region, Donbas' economic centre, as it continues a military campaign to encircle the key cities of Kostyantynivka and Lyman.
Although Ukrainian officials dispute reports of growing Russian control along the front, a New York Times report said Russian troops have fought their way into Kostyantynivka.
Druzhkivka, a city in Donetsk, has become a wasteland, leaving Sloviansk and Kramatorsk as Ukraine’s last major strongholds in the region.
Ukraine has resisted pressure from the Trump administration to hand over the Donbas region.
While Kyiv insists it will keep fighting for the Donbas, experts say there may be little left of its main cities to defend.
People familiar with Ankara’s thinking said that, had Fidan’s attempt succeeded, it could have brought both sides to Turkey during the Nato summit in Ankara in July. For now, however, that appears unlikely.
Cracks in Russia's economy
Despite Ukraine’s increasingly deep-strike capabilities, which frequently target Russian energy infrastructure in Moscow and other large cities, Russia is inching towards more territory in eastern Ukraine.
Yet western analyses increasingly indicate that Russians are also facing significant challenges in daily life. The Russian government is at times completely restricting mobile internet, while the economy is showing deep cracks after more than four years of fighting and sanctions.
A European analysis of Russia’s economic situation, viewed by MEE, says the Russian government is deeply worried about signs of stress in the banking sector, which could face a major crisis on several fronts.
The analysis says Russian banks’ balance sheets have been artificially inflated because of growing risk-taking aimed at attracting investors who may not have the income they claim, exposing banks to the possibility of loan defaults.
“The widespread issuance of state-subsidised mortgages at favourable rates has led to a rise in property prices, increasing the risk of a property bubble and loan defaults,” the analysis said.
“Support for the regions through public-private partnerships has also transferred regional debt to banks. The banks must therefore bear the losses from unprofitable projects and from the regions’ difficulties in repaying their debts.”
In 2024, there were nearly 3,500 active public-private partnership projects in Russia, worth a total of €50bn.
As a result, more than a dozen Russian banks are expected to go out of business this year.
More than half a million Russians filed for bankruptcy in 2025, a 31.5 percent increase from 2024.
This article was sourced from Middle East Eye.
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