The Russian central bank has cut its key interest rate by a full percentage point, a surprise move by the bank, which it justified by pointing to declining inflation pressure and a more robust rouble.

The Kremlin said on Friday the Ukraine war was "existential" for Russia, after it launched a wave of retaliatory drone and missile strikes that killed at least four people.

A Ukrainian drone strike operation has shattered Moscow’s strategic airpower. It may have blindsided Washington as well.