Putin visited Russia's Kursk region for first time since Moscow said it drove out Ukrainian forces

President Vladimir Putin visited Russia's Kursk region for the first time since Moscow claimed that it drove Ukrainian forces out of the area last month, the Kremlin said Wednesday.

Putin visited the region bordering Ukraine the previous day, according to the Kremlin.

Ukrainian forces made a surprise incursion into Kursk in August 2024 in one of their biggest battlefield successes in the more than three-year war. The incursion was the first time Russian territory was occupied by an invader since World War II and dealt a humiliating blow to the Kremlin.

Since the end of 2023, Russia has mostly had the advantage on the battlefield, with the exception of Kursk.

Putin has effectively rejected recent U.S. and European proposals for a ceasefire. Russian Foreign Minister Sergey Lavrov on Wednesday accused Kyiv’s allies of seeking a truce “so that they can calmly arm Ukraine, so that Ukraine can strengthen its defensive positions.”

North Korea sent up to 12,000 troops to help the Russian army take back control of Kursk, according to Ukraine, the U.S. and South Korea. Russia announced on April 26 that its forces had pushed out the Ukrainian army. Kyiv officials denied the claim.

The Ukrainian Army General Staff said on Wednesday evening that its operation “in the designated areas in the border regions of Kursk continues” and ”although the conditions remain difficult, Ukrainian defenders hold their positions, fulfill their tasks and inflict effective damage on the enemy.” Its map of military activity showed Ukrainian troops holding a thin line of land hard against the border but still inside Russia.

Putin’s unannounced visit appeared to be an effort to show Russia is in control of the conflict, even though its full-scale invasion of its neighbor has been slow and costly in terms of casualties and equipment.

Video broadcast by Russian state media showed that Putin visited Kursk Nuclear Power Plant-2, which is still under construction, and met with selected volunteers.

Many of the volunteers wore clothes emblazoned with the Russian flag, some had the Latin letters “V” on them, one of the symbols of Russia’s invasion of Ukraine.

“What you are doing now during this difficult situation for this region, for this area, and for the country, will remain with you for the rest of your life as, perhaps, the most meaningful thing with which you were ever involved,” Putin said as he drank tea with the volunteers.

Ukraine's surprise thrust into Kursk and its ability to hold land there was a logistical feat, carried out in secrecy, that countered months of gloomy news from the front about Ukrainian forces being pushed backward by the bigger Russian army.

Kyiv's strategy aimed to show that Russia has weaknesses and that the war isn't lost. It also sought to distract Russian forces from their onslaught in the eastern Donetsk region of Ukraine.

The move was fraught with risk. Analysts noted that it could backfire and open a door for Russian advances in Ukraine by further stretching Ukrainian forces that are short-handed along the roughly 1,000-kilometer (620-mile) front line.

The incursion didn’t significantly change the dynamics of the war.

Putin told acting Kursk Gov. Alexander Khinshtein that the Kremlin supported the idea of continuing monthly payments to displaced families that still couldn't return to their homes.

Putin said that he would back a proposal to build a museum in the region to celebrate what acting Gov. Alexander Khinshtein described as “the heroism of our defenders and the heroism of the region’s residents.”

Disgruntled residents had previously shown their disapproval over a lack of compensation in rare organized protests.

Putin last visited the Kursk region in March, when Ukrainian troops still controlled some parts of the area. He wore military fatigues – a rarely seen sight for the Russian leader, who usually wears a suit – and visited the area’s military headquarters where he was filmed with top generals.

Russia’s Ministry of Defense on Wednesday repeatedly reported its air defenses shot down dozens of drones over multiple Russian regions. In total, between 8 p.m. on Tuesday and 6 p.m. on Wednesday, the ministry said 262 drones were shot down.

Moscow Mayor Sergei Sobyanin reported a total of 16 drones downed on their way towards Moscow, and during the day flights were briefly halted in and out of Moscow’s Domodedovo, Sheremetyevo and Zhukosky airports, according to Russia’s civil aviation authority Rosaviatsiya. Flights were also temporarily grounded in the cities of Ivanovo, Kaluga, Kostroma, Vladimir and Yaroslavl.

Local authorities in the regions of Tula, Lipetsk and Vladimir also announced blocking cell phone internet in the wake of the drone attacks.

In Ukraine, Russian drone attacks killed two people and wounded five others in the northern Sumy region, the regional administration said.

In the Kyiv region, four members of a family were injured when debris from a downed drone hit their home, according to the regional administration.

Russia launched 76 Shahed and decoy drones overnight at Ukraine, the Ukrainian air force said.

The Ukrainian army said that its drones struck a semiconductor plant overnight in Russia’s Oryol region, about 150 kilometers (90 miles) northeast of Ukraine. According to the General Staff, 10 drones hit the Bolkhov Semiconductor Devices Plant, one of Russia’s key producers of microelectronics for the military-industrial complex.

It wasn't possible to independently verify the claim.

Follow AP’s coverage of the war in Ukraine at https://apnews.com/hub/russia-ukraine

In this photo taken from video distributed by Russian Defense Ministry Press Service on Wednesday, May 21, 2025, Russian servicemen attend a combat training for assault units in an undisclosed location in Ukraine. (Russian Defense Ministry Press Service via AP)

In this photo released by the Russian Presidential Press Service on Wednesday, May 21, 2025, Russian President Vladimir Putin, 2nd left, attends a meeting with volunteers at Kursk region, Russia. (Russian Presidential Press Service via AP)

In this photo released by the Russian Presidential Press Service on Wednesday, May 21, 2025, Russian President Vladimir Putin, center, speaks with volunteers at Kursk region, Russia. (Russian Presidential Press Service via AP)

In this photo taken from video distributed by Russian Defense Ministry Press Service on Wednesday, May 21, 2025, Russian servicemen attend a combat training for assault units in an undisclosed location in Ukraine. (Russian Defense Ministry Press Service via AP)

NEW YORK (AP) — Reviving a campaign pledge, President Donald Trump wants a one-year, 10% cap on credit card interest rates, a move that could save Americans tens of billions of dollars but drew immediate opposition from an industry that has been in his corner.

Trump was not clear in his social media post Friday night whether a cap might take effect through executive action or legislation, though one Republican senator said he had spoken with the president and would work on a bill with his “full support.” Trump said he hoped it would be in place Jan. 20, one year after he took office.

Strong opposition is certain from Wall Street in addition to the credit card companies, which donated heavily to his 2024 campaign and have supported Trump's second-term agenda. Banks are making the argument that such a plan would most hurt poor people, at a time of economic concern, by curtailing or eliminating credit lines, driving them to high-cost alternatives like payday loans or pawnshops.

“We will no longer let the American Public be ripped off by Credit Card Companies that are charging Interest Rates of 20 to 30%,” Trump wrote on his Truth Social platform.

Researchers who studied Trump’s campaign pledge after it was first announced found that Americans would save roughly $100 billion in interest a year if credit card rates were capped at 10%. The same researchers found that while the credit card industry would take a major hit, it would still be profitable, although credit card rewards and other perks might be scaled back.

About 195 million people in the United States had credit cards in 2024 and were assessed $160 billion in interest charges, the Consumer Financial Protection Bureau says. Americans are now carrying more credit card debt than ever, to the tune of about $1.23 trillion, according to figures from the New York Federal Reserve for the third quarter last year.

Further, Americans are paying, on average, between 19.65% and 21.5% in interest on credit cards according to the Federal Reserve and other industry tracking sources. That has come down in the past year as the central bank lowered benchmark rates, but is near the highs since federal regulators started tracking credit card rates in the mid-1990s. That’s significantly higher than a decade ago, when the average credit card interest rate was roughly 12%.

The Republican administration has proved particularly friendly until now to the credit card industry.

Capital One got little resistance from the White House when it finalized its purchase and merger with Discover Financial in early 2025, a deal that created the nation’s largest credit card company. The Consumer Financial Protection Bureau, which is largely tasked with going after credit card companies for alleged wrongdoing, has been largely nonfunctional since Trump took office.

In a joint statement, the banking industry was opposed to Trump's proposal.

“If enacted, this cap would only drive consumers toward less regulated, more costly alternatives," the American Bankers Association and allied groups said.

Bank lobbyists have long argued that lowering interest rates on their credit card products would require the banks to lend less to high-risk borrowers. When Congress enacted a cap on the fee that stores pay large banks when customers use a debit card, banks responded by removing all rewards and perks from those cards. Debit card rewards only recently have trickled back into consumers' hands. For example, United Airlines now has a debit card that gives miles with purchases.

The U.S. already places interest rate caps on some financial products and for some demographics. The Military Lending Act makes it illegal to charge active-duty service members more than 36% for any financial product. The national regulator for credit unions has capped interest rates on credit union credit cards at 18%.

Credit card companies earn three streams of revenue from their products: fees charged to merchants, fees charged to customers and the interest charged on balances. The argument from some researchers and left-leaning policymakers is that the banks earn enough revenue from merchants to keep them profitable if interest rates were capped.

"A 10% credit card interest cap would save Americans $100 billion a year without causing massive account closures, as banks claim. That’s because the few large banks that dominate the credit card market are making absolutely massive profits on customers at all income levels," said Brian Shearer, director of competition and regulatory policy at the Vanderbilt Policy Accelerator, who wrote the research on the industry's impact of Trump's proposal last year.

There are some historic examples that interest rate caps do cut off the less creditworthy to financial products because banks are not able to price risk correctly. Arkansas has a strictly enforced interest rate cap of 17% and evidence points to the poor and less creditworthy being cut out of consumer credit markets in the state. Shearer's research showed that an interest rate cap of 10% would likely result in banks lending less to those with credit scores below 600.

The White House did not respond to questions about how the president seeks to cap the rate or whether he has spoken with credit card companies about the idea.

Sen. Roger Marshall, R-Kan., who said he talked with Trump on Friday night, said the effort is meant to “lower costs for American families and to reign in greedy credit card companies who have been ripping off hardworking Americans for too long."

Legislation in both the House and the Senate would do what Trump is seeking.

Sens. Bernie Sanders, I-Vt., and Josh Hawley, R-Mo., released a plan in February that would immediately cap interest rates at 10% for five years, hoping to use Trump’s campaign promise to build momentum for their measure.

Hours before Trump's post, Sanders said that the president, rather than working to cap interest rates, had taken steps to deregulate big banks that allowed them to charge much higher credit card fees.

Reps. Alexandria Ocasio-Cortez, D-N.Y., and Anna Paulina Luna, R-Fla., have proposed similar legislation. Ocasio-Cortez is a frequent political target of Trump, while Luna is a close ally of the president.

Seung Min Kim reported from West Palm Beach, Fla.

President Donald Trump arrives on Air Force One at Palm Beach International Airport, Friday, Jan. 9, 2025, in West Palm Beach, Fla. (AP Photo/Julia Demaree Nikhinson)

FILE - Visa and Mastercard credit cards are shown in Buffalo Grove, Ill., Feb. 8, 2024. (AP Photo/Nam Y. Huh, File)