1725 GMT - Progress is being made toward a peace deal between Ukraine and Russia, Kyrylo Budanov--the new chief of staff of Ukrainian President Volodymyr Zelensky and Ukraine's former spymaster--tells the World Economic Forum in Davos, Switzerland. Budanov says he flew to Davos from Miami, where he held talks about the war with President Trump's staff. Budanov describes himself as "cautiously optimistic" over the likelihood of a peace agreement being reached. Meanwhile, Elina Valtonen, Finland's minister for foreign affairs, calls for further pressure on Russia to agree on a peace deal, alongside a massive ramp up in Europe's defense spending. "We haven't seen any concessions on the side of Russia to reach a proper peace deal with Ukraine," she says. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
January 20, 2026 12:25 ET (17:25 GMT)
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