North Korean leader Kim Jong Un has affirmed continued military cooperation with Russia, publicly supporting Moscow’s policies. This declaration strengthens Russia’s military position and reduces the likelihood of an imminent ceasefire in Ukraine.
The partnership between Pyongyang and Moscow predates the current conflict and shows no signs of weakening, working against any near-term resolution. For traders observing potential ceasefire markets, Kim’s statement reinforces skepticism. The odds for a Russia-Ukraine ceasefire by May 31, 2026, remain at 4%, reflecting deep doubt about a resolution within this timeframe, especially following North Korea’s public reaffirmation of its backing for Russia.
Market observers are watching for shifts in military dynamics or rhetoric from either the Kremlin or Ukraine, which could prompt significant market movements.