One person was killed and four others injured after Russian forces staged the latest in a series of mass drone attacks on Ukraine’s Black Sea port of Odesa. The attack also caused several fires as well as damage to the historic centre, a UNESCO World Heritage site.

"If we try to establish a ceasefire without building up our future defenses, the war will drag on for many more years," former Commander-in-Chief Valerii Zaluzhnyi said.

Vasily Astrov, expert on the Russian economy at the Vienna Institute for International Economic Studies, told Newsweek that "inflation has really subsided markedly over the past few months. The outcome of this policy has been a marked cooling of domestic demand, with the welcome side effect of rapid disinflation.