President Donald Trump announced a three-day ceasefire between Russia and Ukraine, starting Saturday, May 9, with all “kinetic activity” suspended through May 11. Both sides independently confirmed the deal, a rare diplomatic breakthrough.
The ceasefire covers May 9-11, coinciding with Russia’s Victory Day. A prisoner exchange of 1,000 prisoners from each side, totaling 2,000 people, is included. Ukrainian President Volodymyr Zelenskyy confirmed the “1,000 for 1,000” framework and began preparations. Kremlin aide Yuri Ushakov noted the “acceptability of the initiative.”
Cryptocurrency markets showed no immediate reaction. The scenario that would move markets is a broader, sustained ceasefire or formal peace negotiations, which would impact energy prices, European stability, and global risk appetite.