In this episode of The PDB Afternoon Bulletin:

• First up — After weeks of Ukrainian strikes on Russian refineries and fuel infrastructure, Vladimir Putin has publicly acknowledged that Russia is experiencing fuel shortages. We examine why the Kremlin's rare admission matters, what it reveals about Ukraine's strategy, and whether it signals a new phase of the war.
• Later in the show — Negotiators are expressing growing optimism that the United States and Iran may be moving closer to a broader and more durable peace agreement. We'll have the latest on the talks and what the remaining obstacles could mean for the region.

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