World markets are watching closely as U.S. President Donald Trump and Russia's Vladimir Putin meet in Alaska later on Friday to seal a possible ceasefire agreement in Ukraine.

Russia and Ukraine continued to exchange long-range drone and missile strikes on the eve of the summit. Ukraine’s military said on Friday morning that it had hit several targets inside Russia, including an oil refinery and a port that Moscow uses to import military supplies from Iran.

In an indication of Russia’s willingness to accept enormous losses, the country has experienced more than 950,000 military casualties — meaning death or serious injury — fro