The World Bank predicts a difficult year for Russia, projecting oil prices to fall to a five-year low by 2026. Russia is expected to lose about $50 billion due to current sanctions. The US may increase energy supplies to China if China reduces purchases from Russia. Russian oil giant Lukoil is selling international assets at a significant discount due to US sanctions.
Russia is expressing concern over the possible confiscation of its frozen assets, but experts believe this is only a matter of time. Meanwhile, Europe has put forward a new peace plan for Ukraine calling for an immediate ceasefire, the creation of security zones, and international monitoring. Details remain scant, and full implementation may be delayed until spring.
Politically, Russia faces internal challenges, including pressure on Gerasimov to fully capture Donbas—a goal that remains elusive. In Ukraine, there is criticism of the government’s handling of the energy network, after previous promises of adequate protection.
Support for Ukraine is evident in Europe: in the Netherlands, pro-Russian parties suffered a major defeat in parliamentary elections, with a pro-Ukraine party winning. Finland is strengthening its forces near the Russian border, and Europe is preparing logistical plans to support its eastern front quickly and effectively.
The issue of the Russian language’s status in Ukraine is again under discussion, with calls to recognize it as the language of the aggressor and to remove its protection as a minority language.
Overall, these developments highlight increased international backing for Ukraine, mounting economic risks for Russia, and ongoing debate in Ukraine over language policy.
