The European Union is considering ways to target third countries seen as doing too little to stop Russia evade sanctions, particularly those that can’t explain spikes in trade of key goods or technologies, according to people familiar with the matter.
(Bloomberg) — The European Union is considering ways to target third countries seen as doing too little to stop Russia evade sanctions, particularly those that can’t explain spikes in trade of key goods or technologies, according to people familiar with the matter.
Ukrainian President Volodymyr Zelenskiy visited the International Criminal Court in The Hague, and was due to speak in the city later Thursday.
Ukraine shot down 18 Iranian-made Shahed drones, launched by Russia from the northern Bryansk region and the eastern coast of the Sea of Azov in the south, the Air Defense said.
Key Developments
- EU Aims to Target Nations Through Which Russia Evades Sanctions
- Wheat Surges as Kremlin Drone Attack Stokes Black Sea Tensions
- The Ugly Case for Supporting Ukraine: Leonid Bershidsky
(All times CET)
EU Aims to Target Nations on Sanctions Evasion (11:10 a.m.)
The primary aim of a new mechanism would be to deter countries from helping Russia and crack down on trade channels that Moscow may be exploiting, said people familiar with the issue. If that doesn’t work, the bloc would have the option as a second step of imposing targeted restrictions on key goods.
The bloc also aims to widen the scope of several existing export measures and ban many goods transiting through Russia, said the people, who spoke on condition of anonymity to discuss private matters.
Death Toll in Russian Strikes at Kherson Rises to 23 (11:05 a.m.)
Massive Russian strikes in the Kherson region Wednesday killed 23 people, regional governor Oleksandr Prokudin said on television. A railway station, a hardware store, a supermarket, a gas station and a house were hit in several attacks during the day.
At least 48 people were injured, Zelenskiy said on Telegram on Wednesday night.
Ukraine’s International Reserves Keep Climbing Toward Record Levels (9:50 a.m.)
Ukraine’s foreign currency and gold reserves climbed 13% from the previous month to more than $35.9 billion, hitting an 11-year high, according to the central bank’s data.
The reserves increased as foreign aid from international partners kept flowing with an overall amount of assistance exceeding $5.8 billion last month, while the central bank has been spending less foreign currency on the foreign exchange market to prop up the hryvna for the fourth consecutive month.
Pressure on the hryvnia has eased in the wake of a tight monetary policy aimed at boosting the attractiveness of hryvnia-denominated savings and the central bank’s refusal to purchase government bonds to support the budget. The country’s reserves peaked at $38.4 billion in April 2011.
Ukraine Shoots Down 18 out of 24 Russian Drones (8:15 a.m.)
Ukraine shot down 18 Iranian-made Shahed drones, launched by Russia from the northern Bryansk region and the eastern coast of the Sea of Azov in the south, the Air Defense said.
In the southern city of Odesa, three drones hit dormitories, causing fires to start, the military command South said on Facebook. Nobody was injured and 12 drones there were shot down, it said. In Kyiv, the Air Defense shot down all loitering munition and missiles according to initial reports, Serhiy Popko, the head of the capital’s military administration, said on telegram.
Wheat Prices Climb to Six-Month High Over Drone Tensions (8:10 a.m.)
Wheat prices extended their biggest jump in six months as tensions escalated in the Black Sea after Moscow blamed Ukraine for a drone attack on the Kremlin. Kyiv has denied Moscow’s allegations. The flare-up comes at a sensitive time for the future of the safe corridor that allows Ukraine to export crops through the Black Sea.
The deputy defense ministers of Turkey, Russia and Ukraine are due Friday to discuss an extension of the deal, which Russia has said could end on May 18.
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