Ukraine has agreed to a 30-day ceasefire with Russia, following a proposal from the United States. The announcement came after Washington revealed its decision to resume providing military aid and intelligence support to Kyiv, a policy that had been temporarily halted.
The ceasefire, which can be extended with mutual consent from both Ukraine and Russia, signals a significant diplomatic shift. Ukrainian President Volodymyr Zelensky confirmed Ukraine’s acceptance, with the understanding that Russia’s response will be crucial to any lasting peace.
This diplomatic breakthrough coincided with a recovery in global cryptocurrency markets. Bitcoin surged by 5%, while Ethereum rose by 4%, contributing to an overall market increase of 4.59%. Experts attribute the uptick in digital asset values to reduced geopolitical tensions, which have boosted investor sentiment.
On Tuesday, the US and Ukrainian officials held a high-level meeting where US Secretary of State Marco Rubio emphasized that the US would approach Russia with the ceasefire proposal, marking a pivotal moment in the ongoing conflict. Rubio stated, “The ball is now in Russia’s court,” urging Moscow to reciprocate and contribute to a lasting resolution.
Zelensky, initially advocating for a limited ceasefire focusing on aerial and maritime operations, agreed to the broader proposal, which extends the truce to the entire front line. He expressed cautious optimism but stressed that convincing Russia to comply remains a major hurdle.
The diplomatic discussions took place during a strategic meeting in Saudi Arabia, attended by key US figures, including Rubio, National Security Advisor Mike Waltz, and Andriy Yermak, Zelensky’s chief of staff. Following the meeting, officials reiterated that the future of the ceasefire hinges on Russian cooperation.
As the US continues to engage with Russia over the proposal, the impact on global markets, particularly the cryptocurrency sector, remains to be fully seen. With investor confidence bolstered by the potential easing of conflict, the crypto market’s recovery serves as a clear indication of the broader economic effects of geopolitical developments.
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