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(Bloomberg) — Finland and Sweden overcame a major hurdle to participate in the North Atlantic Treaty Organization after Turkey abandoned opposition to their candidacies, virtually securing the expansion of the military alliance on Russia’s doorstep.
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NATO moves forward with the Agreement between Finland and Sweden
For the first time, the leaders of Japan, South Korea, Australia and New Zealand are attending the 30-member NATO summit, stoking fears in China of an expanded military alliance in the Asia-Pacific region that could take on Beijing.
The Group of Seven countries have advanced plans to restrict President Vladimir Putin’s energy revenues by cutting oil and fuel costs, a day after a Russian missile attack on a shopping mall in central Ukraine killed at least 20 people. The higher costs of its oil, as strong demand in Asia undermines efforts by Western powers to reduce their revenues.
(See RSAN in the Bloomberg terminal for Russia’s sanctions panel. )
Key developments
Finland and Sweden join NATO club with Turkey
NATO discovers a hug in China’s backyard, stoking Xi’s worst fears
“They don’t need us,” Ukraine says of NATO as leaders meet
Soviet terror caused the Baltic countries to sacrifice nature
NATO to call China a “systemic challenge” in its strategic plan
Declining flows of Russian crude, but most likely temporary
On the floor
Russian forces are pursuing their purpose of occupying all donetsk and Luhansk regions, Ukrainian army spokesman Oleksandr Motuzyanyk said in a video briefing. over the last major stronghold in the Luhansk region that still controls Kyiv. While Lysychansk was again the main hotspot for army action, Russian troops bombed Ukrainian positions and civilian spaces elsewhere along the front line, adding air-to-surface missiles. Kharkiv, the largest city at the time in Ukraine was also bombed, its mayor said.
(All CET schedule)
Zelenskiy rejects Russian for mall strike (6:37 a. m. )
Ukrainian President Volodymyr Zelenskiy has rejected Russian accusations about a missile attack on a shopping mall in Kremenchuk that killed at least 20 people.
“Obviously, there was an order to do it,” Zelenskiy said. They wanted to kill as many other people as possible in a nonviolent place. “
The Russian Defense Ministry said it carried out a precision strike on hangars storing Western weapons and ammunition, sparking the fire at the mall. The Ministry has provided no evidence of its claims.
Russian oil price rises despite G-7 (06:00)
The Russian government’s knowledge shows that the real price of the country’s flagship Ural has appreciated compared to the foreign benchmark Brent. It is a reminder that underlying demand, mainly from countries that apply a price cap, has resisted.
A greater concentration on Asian purchases and the emergence of small trading houses willing to negotiate with Russia helped the flows.
Read more: As the G-7 talks about value caps, Russian oil becomes more expensive
Zelenskiy says sanctions will affect paintings (00:09)
Zelenskiy said in an interview with NBC News that sanctions against Russia will have a massive effect on the state, but that it’s only a matter of time.
He also reiterated his calls from the outdoor world, saying his country’s forces were outnumbered by 10 to 1 and needed more weapons on the battlefield to defend themselves. “The war will definitely end with Ukraine’s victory,” he said.
Ukrainian rail freight rates up to 70% (9:40 p. m. )
The Ukrainian government has approved a 70% increase in the price lists of rail freight shipments to ease pressure on its state-owned railway operator JSC Ukraine Railways, which is facing severe damage to its infrastructure and economic turmoil due to the war, Infrastructure Minister Oleksandr said. Kubrakov said on Facebook.
The resolution raised considerations among Ukrainian grain exporters, who suggested that the government oppose the resolution and instead impose a moratorium on tariff increases during the war and 3 to 6 months later, bringing up the difficulties they face. Ukraine’s grain and oilseed exports have been drastically reduced. while the Russian Navy blocks the country’s Black Sea ports.
NATO Agreement on Movements of Finland and Sweden (20:49)
Turkey will accept the invitation of Finland and Sweden to the NATO military alliance, and the main points will be clarified at a summit that began on Tuesday in Madrid, the Finnish president and NATO secretary general said in a statement.
“I am very happy to conclude this milestone on Finland’s path to NATO membership,” Finnish President Sauli Niinisto said. “I now look forward to fruitful talks about Finland’s role in NATO with our long-standing allies here in Madrid. “
Ankara is fulfilling promises from Finland and Sweden about its security concerns, adding restrictions to Kurdish equipment that Turkey considers terrorists, according to an official who declined to be identified in a confidential matter.
Read more: Finland and Sweden join NATO club with Turkey
Dnipro goals from the last barrage of missiles (18:53 hours)
Six rockets were fired through Russia in the Dnipropetrovsk region of central Ukraine, and several hit railway infrastructure, a commercial and a fuel station in the giant city of Dnipro, Valentyn Reznichenko, head of the regional government, said on his Telegram account.
A fire broke out after a missile attack on the fuel station, where workers are still under rubble, and is being extinguished, he said. Explosions were also heard tuesday in the main city, the southern seaport of Mykolaiv.
Johnson says allies can sign China to Ukraine action (6 p. m. )
Prime Minister Boris Johnson said Britain and its allies will have to abide by their principles of supporting Ukraine and show China that countries will not be allowed to expand their territory through military force.
On a flight to Madrid for a summit of NATO leaders, Johnson was asked if not supporting Ukraine could inspire China to invade Taiwan.
“It is very difficult for countries around the world to read the events in Europe and draw the conclusion that the world will stand idly by if borders are replaced by force,” Johnson said. “This is one of the ultimate classes that we are. “learning from Ukraine. “
Treasury announces sanctions against Gold and Russian companies (5:21 p. m. )
The U. S. Department of the Treasury The US announced its ban on loading Russian gold and issued general blocking sanctions against the Russian defense company Rostec. The action also targeted several other army contractors and connected with the industry.
“Targeting Russia’s defense industry will degrade Putin’s functions and further hinder his war against Ukraine, which has already been plagued by low morale, damaged supply chains and logistical failures,” Treasury Secretary Janet Yellen said, coinciding with the end of the G-7 summit.
The Pentagon’s watchdog will investigate Intel’s sharing in Ukraine (4:51 p. m. )
The Pentagon inspector opened an investigation into U. S. intelligence sharing with NATO allies and Ukraine over Russia’s invasion.
“The objective of this assessment is to determine the extent to which the Department of Defense has developed, planned and executed cross-domain intelligence sharing with European partners in Ukraine,” Maurice Foster, acting deputy inspector general for assessments, said in a statement.
Officials from the Defense Department and other agencies were questioned through lawmakers and analysts about the scope and main points of U. S. strategic and tactical intelligence sharing. USA
At least 20 in mall missile attack (16:17)
The number of other people killed in the Kremenchuk shopping center strike has risen to at least 20, and more than 40 are missing, Kyrylo Tymoshenko, deputy head of the presidential office, said on Telegram. Another 59 were injured.
Interior Minister Denys Monastyrsky said in televised statements that the identity of the remains was unclear due to severe burns, adding that many gave the impression of having ignored an airstrike alarm and remained in the building. Zelenskiy said in a video that about 1,000 more people were at the site and called the Russian state “the largest terrorist organization in the world. “
Nearly 3,000 civilians have been killed in Russian strikes since the invasion began on Feb. 24, Ukraine’s state emergency service said on Telegram.
European demand for fuel peaked in a decade in 2021, according to BP (14:09)
European demand for herbal fuel peaked in a decade last year, and the war in Ukraine will only further tighten the market, BP Plc said in its annual statistical report.
Energy consumption soared in 2021 as countries emerged from months of pandemic restrictions. But the rebound coincided with limited fuel flows from Russia and a compression of liquefied herbal fuel. The European market ended the year with volatility at its highest point and a wild price. The oscillations continued into 2022 with the invasion of Ukraine, stoking fears about supply.
Leaders need an urgent assessment of the limits of the value of power (1:45 p. m. )
The G-7 leaders agreed that they need ministers to urgently talk and assess how Russian oil and fuel costs can be reduced to restrict revenues paid to the government in Moscow.
“We reaffirm our commitment to phase out our dependence on Russian energy,” the leaders said after the three-day summit in the Bavarian Alps. “In addition, we will explore other measures to prevent Russia from benefiting from its war. “of aggression. “
G-7 to attend G-20 in November, Scholz says (1:30 p. m. )
Asked if Germany and other G-7 countries will attend a G-20 summit in November, in which Putin could also participate, German Chancellor Olaf Scholz said there is “broad agreement” among Bavarian leaders that they “do not need to separate the G-20.
Read more: Ukrainian and Russian presidents accept Indonesia’s invitation to G20
“As things stand, the resolution of the countries accumulated here that they will participate,” Scholz told a news conference. Putin and Zelenskiy accepted invitations to the Bali assembly of Indonesia’s G-20 presidency, though it is unclear whether it will end in person. Putin refused to meet with Zelenskiy, who said it was the only way to end the war.
Johnson seems to rule out higher defense spending (1:30 p. m. )
The British prime minister gave the impression of ruling out a buildup in the UK’s defence budget after his defence secretary, Ben Wallace, called for a 20% build-up in spending over five years, and Gen. Patrick Sanders, head of the British military, said Britain and its NATO allies will have to be “unequivocally in a position to fight” if Russia attacks any of its territories.
Speaking as he was ready to leave Germany after the G-7 meeting, Johnson told reporters that the UK had “more than delivered on our promise” to spend 2% of its national source of revenue on defence and that last year it was the third largest spender on defence. . world.
NATO to call China a ‘systemic challenge’ (02:26)
NATO is ready to call China a “systemic challenge” when it outlines its new policy instructions this week, while also highlighting the deepening of Beijing’s partnership with Russia, according to others familiar with the matter.
The Strategic Concept document will define the alliance’s priorities for the next decade and is expected to be signed by NATO leaders at a summit in Madrid this week. The previous version, published in 2010, did not mention China and referred to Russia as a partner. , formulas to be deleted.
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