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Russia devotes 7% GDP to war, Zelensky offers peace

7/7/2026

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Story summary
  • Russia is allocating roughly 7% of GDP and about half its state budget to the war, draining reserves and forcing reliance on China, North Korea and Iran.
  • President Vladimir Putin confronted a NATO meeting in Ankara as Ukrainian attacks persisted and Russian front-line advances stalled.
  • President Volodymyr Zelensky offered peace talks after the Kremlin falsely claimed to have captured Kostyantynivka, while the Kremlin began issuing Russian passports to Transnistria residents.