When a group of defense insiders gathered in Whitehall, the home of the British government, last month to discuss how prepared the United Kingdom and its allies were for a war they believe could come in the next few years,

The first draft essentially called for Ukraine’s surrender. The revised version includes the security guarantees Kyiv wants to prevent future Russian aggression.

Ukrainian President Volodymyr Zelenskyy said in an address on Wednesday that Russia is preparing "the coming year as a year of war," despite ongoing peace talks.

President Vladimir Putin said he’s willing to discuss bringing Russia’s war in Ukraine to an end, even as he ruled out changes sought by Kyiv and Europe to a US peace plan drawn up with Moscow.

Problems in the oil sector, a possible banking crisis and consumer woes lie ahead for Russia’s economy as four years of heavy military spending come due.

Russian Deputy Foreign Minister Sergey Ryabkov told ABC News during an exclusive interview in Moscow on Monday that he believes the warring parties are close to a deal.

Russia’s war economy is not collapsing, but neither is it stable. It survives by pushing strain into the future – into labour markets, public finances and the everyday lives of Russian households.

Ukraine has struck a major Russian oil refinery using British-supplied missiles, Kyiv said, in an escalation of attacks on Moscow’s energy infrastructure. Storm Shadow missiles hit the Novoshakhtinsk refinery in Russia’s Rostov region, triggering blasts, according to the Ukrainian General Staff.