Ukraine said it destroyed a Russian air defense compound on the western coast of Crimea, stepping up pressure alongside efforts to cut off Moscow’s land route to resupply the strategic peninsula it annexed in 2014. Ukraine’s troops targeted a $1.2 billion Russian S-400 “Triumph” missile complex. Russia said earlier it downed 11 drones over Crimea — making no reference to the missile compound – and six near Bryansk, north of the Ukrainian border. A day earlier, Ukrainian missiles hit a shipyard i
(Bloomberg) — Ukraine said it destroyed a Russian air defense compound on the western coast of Crimea, stepping up pressure alongside efforts to cut off Moscow’s land route to resupply the strategic peninsula it annexed in 2014. Ukraine’s troops targeted a $1.2 billion Russian S-400 “Triumph” missile complex. Russia said earlier it downed 11 drones over Crimea — making no reference to the missile compound – and six near Bryansk, north of the Ukrainian border. A day earlier, Ukrainian missiles hit a shipyard in Crimea, damaging two navy vessels. Ukraine’s air defense said it downed 17 of 22 Shahed drones fired by Russia overnight at the nation’s south, north and center.
Russian President Vladimir Putin accepted North Korean leader Kim Jong Un’s invitation to visit Pyongyang “at a convenient time,” the official Korean Central News agency reported. Kremlin spokesman Dmitry Peskov confirmed that Putin plans to visit at an unspecified time. Kim, traveling by luxury armored train, remains in Russia and may tour military equipment facilities in the coming days.
Ukraine’s central bank trimmed borrowing costs for a second consecutive meeting, pressing ahead with monetary easing after inflation dropped into single-digit territory. Russia’s central bank meets Friday. In a break from practice, Russian billionaires have pulled assets worth tens of billions from Europe since the invasion of Ukraine.
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Markets
Oil climbed toward a 10-month high as the International Energy Agency added to warnings from OPEC and the US of a supply shortfall through the end of the year. The bullish outlooks added momentum to a rally that started in mid-June as Saudi Arabia and Russia curbed supply while US and Chinese demand proved relatively resilient.
Wheat prices rose on Wednesday, climbing away from a two-year low as droughts threaten global crops and Ukrainian ports face continued Russian attacks.
Coming Up
- Kim Jong Un continues Russian visit with plans to go to Komsomolsk-on-Amur and Vladivostok
- Russian Grain Union two-day meeting opens in Sochi
- Belarus leader Lukashenko meets with Putin on Friday
- Russian, Chinese foreign ministers plan talks on Monday in Moscow
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