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(Bloomberg) — President Volodymyr Zelenskiy used his evening address to celebrate the departure of Russian forces from Snake Island to the Black Sea, but pointed to problems in the Donbass region. Moscow presented the move as a measure to facilitate grain exports, but Kyiv says its missile and artillery bombardment was the decision.
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Ukrainian officials are reading the option of debt restructuring as financing functions for the war-torn country are very likely to be exhausted, according to 3 other people familiar with the talks.
The United States plans to announce another $800 million in defense assistance for Ukraine, President Joe Biden said at the NATO summit in Madrid, which concluded with help for requests from clubs in Sweden and Finland. The U. S. Treasury Department said it had blocked an acceptance as true with having more than a billion dollars in assets connected to a Russian oligarch.
(See RSAN in the Bloomberg terminal for Russia’s sanctions panel. )
Key developments
Ukraine Considers Debt Restructuring as Bills Loom
The U. S. Treasury USA Blocks acceptance of billion dollars as truth with Russian oligarch connected
Russia withdraws troops from Snake Island after Ukrainian attacks
Oil is expected to experience its first monthly drop this year as OPEC increases supply.
Lawmakers denounce London’s ‘dirty money’ and British sanctions
On the floor
As the largest military operation in Europe since World War II continues in its fifth month, Russia has pursued its purpose of occupying Ukraine’s Donetsk and Luhansk regions. Kremlin forces are approaching Lysychansk, Ukraine’s last major foothold in Luhansk. scenario as “extremely difficult” with evacuations and Russian troops on the outskirts of the city. Russia fired two missiles at Odessa, but the damage was limited. highest since last weekend.
(All CET time)
Zelenskiy greets Russians as they leave Snake Island (11:20 p. m. )
President Volodymyr Zelenskiy said the departure of Russian forces from Snake Island “significantly changes” the situation in the Black Sea, while urging caution about the actual impact on the course of the war.
“It still doesn’t guarantee security, it still doesn’t guarantee that the enemy will possibly not return,” Zelenskiy said in his evening address to the nation. “But this already particularly limits the movements of the occupants. Step by step, we will drive them out of our sea, our land, and our sky.
At the same time, Zelenskiy said fighting in the Donbass region “remains the toughest” of the conflict, adding that Russian forces seized Ukraine.
World Bank Contributes $470 Million to State Budget (7:55 p. m. )
Ukraine earned 447 million euros ($468 million) from the World Bank for budget spending and state governance, the Finance Ministry said on its website. Most of the loan, €424. 6 million, is secured through the UK, according to the statement.
The budget will invest for public sector employees and be added to education, Finance Minister Serhiy Marchenko said.
U. S. Blocks Oligarchs’ Billion Dollar Trust (7:03 p. m. )
The U. S. Department of the Treasury The U. S. government said it was blocking a Delaware-based deal that contained more than a billion dollars in assets related to Russian oligarch Suleiman Kerimov.
“This action ensures that those assets are blocked and inaccessible to Kerimov,” the Treasury Department said in an announcement about issuing a notice of blocked ownership to Heritage Trust. Kerimov “has a property right” in the trust, according to the statement.
Kerimov is a Russian gold billionaire who first sanctioned through Washington in 2018. It’s worth about $13. 3 billion, according to the Bloomberg Billionaires Index.
Ukraine considers debt restructuring (6. 48 p. m. )
Ukrainian officials are reading the option of a debt restructuring, according to 3 other people familiar with the plans. The country has time to make a resolution, until Sept. 1, when it will face a $1. 4 billion buyback and interest payments, according to Bloomberg. Calculations
The International Monetary Fund is providing recommendations and research on Ukraine’s monetary and debt situation, according to two of the people, who asked to be known for discussing a sensitive issue.
The IMF has been in contact with the Ukrainian government since the invasion began last February and continues to do so, an IMF spokesman said, without commenting directly on questions about the debt restructuring option.
Jokowi says he delivered Zelenskiy’s message to Putin (5:24 p. m. )
Indonesian President Joko Widodo said he had delivered a message to his Russian counterpart Vladimir Putin from Ukrainian leader Volodymyr Zelenskiy, with whom he met Wednesday in Kiev. Jokowi, as he is called, commented on the content. facilitate discussion between the two leaders,” Widodo said after talks with Putin in the Kremlin on Thursday.
The Indonesian leader said food shortages since the start of the war in Ukraine in February have affected millions of people in the coming countries.
Theirs came as efforts to revive grain exports from Black Sea ports blocked by Russian Navy ships stalled. Russia said its own grain and fertilizer exports were limited, even though U. S. buyers were confident they would not violate any penalties by making purchases.
Kremlin hints that Putin would possibly not attend the G-20 in user (5:01 p. m. )
Putin can simply attend the G20 summit in Indonesia on behalf of the user or send a representative, Interfax’s press service reported, mentioning its spokesman. “Russia will participate in the G-20, we will do it in the format that best suits our interests. “Peskov said.
Indonesian President Joko Widodo, who will host this year’s assembly on the island of Bali in November, met with Russia in Moscow on Thursday.
Italian President Mario Draghi said on Tuesday he had heard from Widodo that Putin would be sent in person. The Kremlin rejected the comment.
Biden supports buying F-16s in Turkey (5:08 p. m. )
Biden said he told Turkish President Recep Tayyip Erdogan that he supported the sale of the F-16 to modernize Turkey’s air force, after the two leaders met following Ankara’s resolve to abandon its opposition to NATO expansion.
Biden spoke at the end of a NATO summit in Madrid on Thursday. Erdogan’s brain shift for the NATO club through Sweden and Finland has brought the alliance closer to strengthening its Eastern Front with Russia. The US 16s president was long-standing and was not a “quid pro quo” for Turkey for the NATO club deal.
Kyiv cuts diplomatic relations with Syria over Donbass (3:46 p. m. )
Ukraine said it severed diplomatic relations with Syria after the Middle Eastern country officially identified the “independence and sovereignty” of Luhansk and Donetsk, separatist regions in eastern Ukraine known as Donbass.
Kyiv sees Syria’s resolution as a “hostile gesture” and a danger to Ukraine’s sovereignty and territorial integrity, the Foreign Ministry said on its website. The consulate with Syria will continue.
Zelenskiy announced the resolution in his late-night video address on Wednesday, Moscow having “conveyed Syria’s message about the alleged popularity of professional structures in Donbass as so-called states. “
Biden says the U. S. U. S. To Announce Another $800 Million in Defense Assistance (3:06 p. m. )
Biden said the United States would announce another $800 million in defense aid for Ukraine in the coming days. The new stretch would come with a “new and complex Western air defense system,” as well as “more artillery and ammunition,” he said.
Speaking at a news conference at the end of the NATO summit in Madrid, Biden said the military alliance brought the world together to support Ukraine.
Johnson forecasts UK defence spending to be 2. 5% of GDP (2:10 p. m. )
The UK will increase its defence investment to 2. 5% of annual GDP from the current 2. 3% until the end of the decade and needs other NATO members to do the same, Prime Minister Boris Johnson said.
The British prime minister spoke at the NATO summit in Madrid of “a more harmful and competitive world. “Said.
On Wednesday, Stoltenberg said the 2% “is considered a floor, not a ceiling” for members’ defense spending. Some 19 allies “have transparent plans to reach it by 2024,” he said.
Read more: Boris Johnson increases NATO defence spending to counter Putin
Canada to send dozens of armored worker carriers (1:40 p. m. )
Canada will send 39 troop transports to Ukraine this summer, Prime Minister Justin Trudeau announced at the NATO summit in Madrid. General Dynamics’ vehicles, known as armored fighting vehicles, will be new and will be part of a recent order for 360 placed through the Canadian military.
Canada will also supply six more drone surveillance cameras to Ukraine, in addition to a shipment of 18 this spring.
Stoltenberg says NATO is available for everything (1:35 p. m. )
Stoltenberg said the alliance “prepared for all occasions” related to the Finnish-Swedish alliance club, when asked about Putin’s comments that Moscow would respond in the event of an army buildup.
“We are in the position of all allies and, of course, Finland and Sweden,” Stoltenberg said after an assembly of NATO leaders in Madrid. He said Russia was, for now, “totally focused” on Ukraine.
Stoltenberg said the signing of the Nordic countries’ accession protocols would take place on Tuesday. Turkey lifted the blockade on donations from Sweden and Finland after they pledged to further combat terrorism in their countries.
Voluntary withdrawal from Russia described as “false” (12:15 p. m. )
The Ukrainian armed forces expelled Russian troops from the Black Sea territory known as Snake Island and the concept that this is a voluntary withdrawal is “totally false,” according to the leader of Zelenskiy’s office, Andriy Yermak.
Valeriy Zaluzhnyi, commander-in-chief of the Ukrainian army, added: “The invaders left Snake Island because they can’t use our artillery, missiles and airstrikes. “He praised a Ukrainian-made howitzer that “played a vital role. “in the liberation of the island,” as well as Western partners, who he said provided the “means to attack. “He did not provide additional details.
Ukraine intends to eventually identify its presence on the island and, for the time being, controls the domain with long-range artillery, army spokesman Oleksiy Hromov said at a briefing.
ECB to ask banks to weigh embargo (11. 20 a. m. )
The European Central Bank plans to ask lenders in the region to take into account the economic blow of an imagined shutdown of Russian fuel when contemplating invoices to shareholders.
“We will propose to ask banks to recalculate their capital trajectories in a more adverse situation that could also include a fuel embargo or a recession,” said Andrea Enria, who heads the ECB’s supervisory board. Ukraine is threatening to foment a wave of degraded loans amid runaway inflation and difficulties in obtaining raw materials.
Unemployed Germans on Ukrainian refugees (11:00 a. m. )
German unemployment rose unexpectedly, ending 15 consecutive months of decline, with refugees from the war in Ukraine included among those seeking work.
Unemployment jumped to 133,000 in June, raising the unemployment rate to 5. 3% since November. Economists had estimated a 5-000. The European Central Bank predicted this month that refugees fleeing the Russian invasion could end up expanding the eurozone’s working population through 1. 3 million people.
EU ‘should seek non-unusual debt’ to deal with Ukraine’s fallout (10:30 a. m. )
The European Union is channeling more resources to deal with the consequences of Russia’s invasion of Ukraine and a multitude of national emergencies and developing global crises, a senior official said.
Crisis Management Commissioner Janez Lenarcic said the features come with a new joint loan program, similar to the bloc’s reaction to the Covid-19 pandemic, or the creation of an agreement with the fund. “What is not an option is to look for internal reserves. “in the EU budget because they no longer exist,” Lenarcic said in an interview in Brussels.
Zelenskiy, thank you UK for the last one (10 a. m. )
Zelenskiy thanked Prime Minister Boris Johnson after the U. K. said it would nearly double its military in Ukraine with another billion pounds ($1. 2 billion).
Britain is “our true friend and strategic partner,” Zelenskiy said in a tweet. He also held talks with New Zealand Prime Minister Jacinda Ardern and invited the country to contribute to Ukraine’s “post-war reconstruction. “
The first grain leaves the busy harbor (9 a. m. )
A first merchant shipment left Berdiansk under the Russian profession with 7,000 tons of grain after the reopening of the Sea of Azov port following a demining operation, Yevgeny Balitsky, head of the professional government of the Zaporizhzhia region, was quoted as saying by the Tass news agency. .
The grain is headed to “friendly countries” under the cover of Russia’s Black Sea fleet, Balitsky said, identifying which ones. According to Balitsky’s previous comments, there are 1. 5 million tons of grain in the occupied territories of Ukraine.
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