Russia has launched a new phase of its air campaign against Ukraine, deploying hypersonic missiles and record numbers of drones, causing significant civilian casualties.
The military escalation coincides with political upheaval in Kyiv. Prime Minister Yulia Svyrydenko has resigned as President Volodymyr Zelenskyy seeks to address war fatigue and strained international relations.
NATO faces growing disunity over continued support for Ukraine. Some European allies are wavering on financial commitments, creating uncertainty about the alliance's backing.
Market analysts suggest the increased attacks may indicate a higher likelihood of further military escalation, potentially affecting scenarios like Russian advances toward strategic cities like Sloviansk.
Geopolitical developments, including changes in NATO support and Ukraine's political strategy, will continue to shape market expectations for the conflict's trajectory.