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of the war but have since doubled to close to $1,000 after the ruble appreciated to the mid 50s against the dollar – a fact not lost on the FX-savvy Russian population.
The war in Ukraine grinds on with Russia now having taken complete control of the Luhansk region and controlling more than half of the Donetsk region. Russia continues to massively outgun Ukraine and is slowly winding its forces down with artillery bombardment.
Ukraine has launched a counter act on the Russian held city of Kherson – the only asset Russia holds west of the Dnieper, but the outcome of that battle remains undecided at the time of writing.
At this stage no one is predisposed to restart peace talks and it appears that all players are waiting for a resolution of some sort on the battlefield.
8 RUSSIA Country Report October 2020 www.intellinews.com