**Ukraine’s Zelenskiy Urges Faster Pace in Peace Talks with Russia**
In a statement on Friday, Ukrainian President Volodymyr Zelenskiy emphasized the need for “more momentum” in peace negotiations with Russia. This comes as the two countries continue to engage in a grinding conflict along much of the eastern front.
Zelenskiy expressed his desire for faster progress in implementing agreements reached during previous talks. In February, Ukraine and Russia held two rounds of talks in Turkey, resulting in an agreement to exchange prisoners and soldiers’ remains. However, no new date has been set for further negotiations.
Russia’s stance on the matter remains unchanged, with officials saying they are ready for another round of talks but have not backed down from their war aims. The U.S., which has taken a stronger stance against Russia in recent weeks, has threatened harsher sanctions if a peace deal is not reached within 50 days.
**A Scaled-Up Defense Effort**
Zelenskiy also announced plans to scale up Ukraine’s defense industry, hoping to better equip the country to fend off Russia’s war machine. He assigned new National Security and Defence Council secretary Rustem Umerov to work on weapons agreements with Kyiv’s allies. This move reflects a growing recognition of the need for Ukraine to become less reliant on Western partners for its battlefield supply.
As part of this effort, Zelenskiy is seeking to establish joint manufacturing and production facilities with allies on their territories. He emphasized the importance of fully implementing every agreement with partners on weapons supplies.
**Global Economic Developments**
Meanwhile, in other news, major Wall Street brokerages have withdrawn their expectations for a September interest rate cut by the Bank of England. This decision reflects concerns about inflation remaining sticky and the labor market proving resilient.
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