Russia is gearing up for a major ground push to end the Ukraine war, which is bad news for Kyiv and Zelensky but signals the conflict may finally be ending.

• Russia is moving forces to strike Odessa and possibly Kyiv, with Moscow warning foreign diplomats to leave and signaling "annihilating" missile strikes.
• Zelensky is begging the US Congress for more weapons and air defense, but Ukraine is running low on missiles and manpower, with reports of forced conscription and 1.8 million Ukrainian dead.
• European backing is fading, with Germany's AfD pledging to end aid and resume Russian energy imports if it wins power.
• On Iran, Trump says the Strait of Hormuz must stay open and refuses to ease sanctions, making a deal unlikely; Iran has vowed to retaliate for recent US strikes.
• The US has drained 17.8 million barrels from its Strategic Petroleum Reserve in a week to keep oil below $110, with the reserve possibly empty by August.
• Inflation jumped from 3.2% to 3.8% in April and could hit 6%, while US debt-to-GDP sits at 125%, setting up a serious financial crunch.

Outlook: Russia is expected to launch heavy strikes and ground operations on Ukraine soon, while the Iran standoff and US economic strain point to more instability ahead.