0810GMT//Trump to send Whitkoff to Moscow; Russia boosts recruitment of foreign soldiers; Russian regions' economic problems rise

UKRAINE PEACE TALKS: Donald Trump said on Tuesday that he is sending Steve Whitkoff, his chief negotiator, to meet with Vladimir Putin in Moscow to iron out the "last few points of disagreement". He also said that he wanted to meet with both Putin and Volodymyr Zelensky "soon" to end the war in Ukraine. (COMMENT>> Briefings from the US have said that an original 28-point peace plan has been cut to 22 points after negotiations with Ukraine. The Kremlin has still not said whether it approves of the new plan, but it does now feel that a peace deal for Ukraine could be moving closer. Whitkoff is not likely to fly to Moscow until next week as Putin is in Bishkek for three days of meetings.)

PUTIN IN KYRGYZSTAN: Putin flew to Bishkek on Tuesday for the start of three days of meetings with the Kyrgyz Pres. Sadyr Japarov. He is also due at a summit of the Kremlin-led CSTO security group.

FOREIGN RECRUITS: The Kremlin has increased its efforts to recruit foreign fighters into its army to send to the war in Ukraine. According to OpenMinds, which studies online information on the war, the Kremlin has increased adverts for foreign fighters by 700% over the summer. It also said that a third of the Russian Army's recruitment adverts are now aimed at foreigners, compared to only 7% previously. (COMMENT>> Many of these adverts are aimed at men living in former Soviet states, such as in Central Asia, but the Kremlin is also targeting Africa, India, Nepal and Yemen. They promise "adventure", pride, a decent salary and Russian citizenship. Russia, just like Ukraine, is struggling to recruit for its military.)

RUSSIAN RAILWAYS NEEDS A BAILOUT: Russia's economy is looking at ways to bail out Russian Railways, which is struggling due to a massive slowdown in the Russian economy. Rusisan Rwailways is reliant on revenues earned from freight transport. It has shifted thousands of workers to part-time work and is considering layoffs. (COMMENT>> Russia's railway system is at the heart of its economy. This is yet another indication of just how sick the Russian economy has become.)

RUSSIAN REGIONS POST ECONOMIC DEFICIT: Russia's regions are facing a combined deficit of 169 billion roubles in the first nine months of the year, compared to a surplus of 850 billion roubles during the same period last year. Kremlin-linked economists said that this deficit was linked to a drop in tax revenues and a rise in costs. (COMMENT>> These economic problems are feeding through from the collapse of Russia's industry. Last week, two Russian regions said that they were struggling to pay compensation to the families of Russian soldiers killed in the war and also signing-on bonuses to new recruits.)

LUKOIL FOUNDER SELLS OUT: Leonid Fedun, one of the founders of Russian energy company Lukoil, sold his 10% stake in the company earlier this year for around $7 billion, two sources told Reuters. Fedun, who is now based in Monaco, became one of Russia's richest men in the 1990s by establishing Lukoil from privatised Soviet oilfields in western Siberia. (COMMENT>> Lukoil has come under Western sanctions in the past month, but this deal was done ahead of this. Fedun had been involved with the running of Lukoil but quit after the Kremlin invaded Ukraine in 2022.)