Global stock markets rose on Monday while crude oil prices declined sharply following US President Donald Trump’s unilateral declaration of an “energy ceasefire” between Russia and Ukraine. The announcement has drawn skepticism from Kyiv and elicited no immediate response from Moscow.
Both major crude contracts fell by more than one percent after Trump’s statement. Despite the diplomatic move, Ukrainian officials reported that Russian forces had struck several power plants across the country. Additionally, the Russian Defense Ministry claimed its military targeted a vessel near the port of Odesa, alleging it was transporting military cargo to Ukraine.
Ukrainian President Volodymyr Zelensky stated that his government is seeking further details regarding the ceasefire proposal. He affirmed that Ukraine supports the initiative but emphasized that it is crucial for Russia to reciprocate the gesture.
As of Monday morning, the Russian government had not confirmed whether it agreed to the proposed ceasefire terms.
Reminds me of the Oslo Accords—grand announcements with zero enforcement. Let’s see if this lasts past the week.
An ‘energy ceasefire’ without any verification mechanism? Sure, that’ll definitely stop missile strikes on infrastructure. Right.
Interesting that Zelensky supports it but demands reciprocity. Hope Russia actually follows through instead of just using it for PR.
Russia is still hitting power plants while Trump talks about energy truces. Sounds like hollow diplomacy to me.
Oil down, stocks up—classic market reaction. But without Moscow’s buy-in, this feels more like a headline stunt than a real ceasefire.