Russia attacks Ukraine cities, peace talks stall
Analysis based on 6 articles · First reported Feb 12, 2026 · Last updated Feb 12, 2026
The ongoing conflict between Russia and Ukraine, marked by Russia's missile and drone attacks on Ukrainian cities and Ukraine's retaliatory strikes on Russian military and oil facilities, creates significant market uncertainty. This directly impacts the energy sector due to disruptions in oil facilities and raises concerns about geopolitical stability, potentially affecting global commodity prices and investor confidence.
Russia launched a barrage of ballistic missiles and drones at Ukrainian cities, including Kyiv, Kharkiv, Dnipro, and Odesa, causing injuries to civilians and extensive damage to residential buildings and critical infrastructure, leaving thousands without heating and water. Ukrainian President Volodymyr Zelenskyy stated that Russia is 'hesitating' about another round of U.S.-brokered peace talks, despite Ukraine's immediate confirmation of attendance. The United States has proposed further negotiations and set a June deadline for a deal, also suggesting an 'energy ceasefire' which Russia has not responded to. Meanwhile, Ukraine retaliated with long-range strikes on Russian military targets and oil refineries, hitting a missile and ammunition storage site in the Volgograd region, the Michurinsk Progress Plant in the Tambov region, and the Volgograd and Ukhta oil refineries. Disagreements over occupied Ukrainian land and security guarantees continue to impede a comprehensive settlement as the fourth anniversary of Russia's invasion approaches.
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