Follow live updates from NBC News as Russian President Vladimir Putin speaks at his annual year-end news conference on Ukraine, peace, war and Trump.

The Russian economy has been dealing with growing headwinds this year: unruly inflation, a ballooning budget deficit and shrinking energy revenues. But analysts say the Kremlin could weather the storm for many more years.

U.S. Secretary of State Marco Rubio says progress has been made in efforts to end the Russia-Ukraine war, but challenges remain as Ukrainian officials meet with American diplomats for a new round of negotiations.

Russia's foreign ministry said on Thursday that an International Claims Commission for Ukraine launched by some European powers had no legal force for Russia and was driven by an attempt by European countries to spread propaganda against Russia.

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.

Ukrainian President Volodymyr Zelenskyy says a "very workable" peace plan to end the war in Ukraine could be presented to Russia within days.

Ukraine claimed it carried out an underwater drone strike on Dec. 15, the first such attack in maritime warfare, that critically damaged a Russian Kilo-class attack submarine at the Russian port of Novorossiysk,

Russian President Vladimir Putin declares Russia's Ukraine war goals will be achieved through negotiations or military force as diplomatic efforts.