Kupiansk was seized by Moscow's forces in the early days of their February 2022 invasion and recaptured by Ukrainian troops in a rapid counter-offensive months later. In recent months, the area has seen an upsurge of activity by Russian forces.

Ukrainian forces on Wednesday repelled an attempt by Russian troops to pierce defences near the northeastern city of Kupiansk, Ukraine's General Staff said.

Ukraine’s sovereign bonds have surged in price as investors bet that the incoming US administration will push for a quick end to the war with Russia. The dollar-denominated bonds have risen 12 per cent in the past month,