Ukrainian President Volodymyr Zelenskyy has proposed a potentially open-ended ceasefire beginning on May 5, coinciding with a request from the Russian defense ministry for hostilities to cease on May 5 and 6 to commemorate the anniversary of the defeat of Nazi Germany in World War II. The Russian ministry has threatened a 'massive missile strike' on Kyiv if their demands are not met, reflecting a pattern of unilateral ceasefire declarations that have previously had little effect. Zelenskyy dismissed the Russian request as 'not serious' but stated that a ceasefire could be realistic if both sides act accordingly. He highlighted the need for Russia to take genuine steps toward ending the war, especially as the upcoming military parade in Moscow will occur without traditional military displays for the first time in nearly two decades.

In economic terms, the influential Russian think tank TsMAKP has downgraded its GDP growth forecast for Russia to between 0.5% and 0.7% for the year, down from previous estimates. This reduction is attributed to the impact of Ukrainian drone attacks on Russian oil infrastructure and ongoing Western sanctions. Additionally, a recent missile attack in Ukraine's Kharkiv region killed seven people, while a Ukrainian drone strike reportedly killed a civilian in Russia's Belgorod region. Meanwhile, British Prime Minister Keir Starmer is advocating for the UK to join the EU's £78 billion loan scheme for Ukraine, which could enhance defense support for Kyiv. The International Atomic Energy Agency reported damage to weather monitoring equipment at the Russian-occupied Zaporizhzhia nuclear power plant due to a drone strike.