Putin announces three-day truce starting at midnight May 8

Russian President Vladimir Putin on Monday announced a three-day truce starting from midnight May 8 (2100 GMT May 7).

The Kremlin said that Putin had ordered a full cessation of hostilities to mark the 80th anniversary of Russia's Victory Day, which falls on May 9.

Russia called on Ukraine to join the truce, the Kremlin said, adding that Russia troops would give an "adequate and effective response" if Ukraine violates the ceasefire.

The Kremlin noted that Russia "once again declares its readiness for peace talks without preconditions," to address the root causes of the Ukraine crisis and to have constructive interactions with international partners.

In response to Russia's ceasefire decision, Ukrainian Foreign Minister Andrii Sybiha posted on social media platform X saying that if Russia truly wants peace, it should cease fire immediately, and not wait until May 8.

He also said that Ukraine is prepared to support a lasting, credible and comprehensive ceasefire, which should last for at least 30 days.

The People's Bank of China (PBOC), the country's central bank, has renewed a bilateral currency swap agreement with the Central Bank of the Republic of Türkiye.

The total value of this agreement is 35 billion yuan (about 4.88 billion U.S. dollars), or 189 billion Turkish lira, the PBOC said in a statement on its website on Friday.

The agreement is valid for three years and can be renewed upon mutual consent, according to the statement.

Meanwhile, the two sides have also signed a memorandum of understanding to establish a yuan clearing arrangement in Türkiye.

These arrangements mark a new stage in China-Türkiye financial cooperation and are expected to facilitate the use of local currencies by enterprises and financial institutions of both countries for cross-border settlements, further promoting and facilitating bilateral trade and investment, the statement said.