Latest news from Russia and the war in Ukraine

EU member states agree to reduce emergency gas cuts for winter

European Union states have reached an agreement on regulating emergency gas cuts ahead of this winter, when the bloc is expected to face a turbulent few months amid likely power cuts from Russia

“This was not an impossible mission! Ministers have reached a political agreement on reducing gas demand before next winter,” the Czech Presidency of the Council of the European Union wrote on Twitter.

– Natasha Turak

Ukraine’s economy has seen a sharp decline due to the war with Russia, top aide says

Damage seen after the market hit by Russian attacks as the war between Russia and Ukraine continues in Bakhmut, Donetsk province, Ukraine, on July 25, 2022.

Metin Atkas| Anadolu Agency | Getty Images

Russia’s assault on Ukraine has had a major impact on the country’s economy, according to a senior aide to Ukrainian President Volodymyr Zelenskyy.

“Currently, we expect the Ukrainian economy to show a decline of around 35% to 40%, which is a big decline,” Oleg Ustenko, Zelenskyy’s economic adviser, told CNBC’s “Capital Connection” .

“But why has this decline occurred? [is] because I would say 50%, half of our businesses are not operational now or cannot operate at full capacity.”

“When the economy declines, budget revenues decline. Again, the reason for this is the Russian invasion,” he added.

– Sumathi Bala

Germany fears a “serious” situation as Russian gas flows will decline again

German Economy Minister Robert Habeck said gas supplies for industry will be cut before private residences or critical infrastructure such as hospitals experience gas shortages.

Alliance of the image | Alliance of the image | Getty Images

Germany’s Economy Minister Robert Habeck has warned that the country is facing a serious energy crisis as Russia prepares to cut gas flows to Europe.

“We have a serious situation. It’s time for everyone to understand,” he added. Habeck told broadcaster ARD on Monday evening, and adds that Germany must reduce its gas consumption. “We’re working on it,” Habeck said.

Habeck said the supply of gas to industry will be reduced before private residences or critical infrastructure such as hospitals experience gas shortages.

“Of course, it is a great concern, which I also share, that this could happen. Then certain production lines in Germany or Europe would simply stop manufacturing. We must prevent this with all the strength we have.” The way is to reduce gas consumption by 15% to 20% in Germany, he said.

“If we can do that, then with all the measures we’ve taken, we have a very good chance of not having to take that step.”

Just days after resuming gas flows through its Nord Stream 1 pipeline last Thursday following a 10-day break for routine maintenance, Russian gas giant Gazprom said on Monday it would cut daily gas deliveries again through the pipeline to 33 million cubic meters as of Wednesday.

This means that the flow of gas, which is already at only 40% of capacity, will be halved further from tomorrow.

Gazprom said this was to make repairs to a turbine, but that claim has been criticized by Western officials. Germany’s Habeck said the reasoning was a “sham”, while Ukrainian President Zelenskyy said Putin was continuing his “gas war” against Europe, a continent traditionally dependent on Russia for around 45 % of its annual gas supply.

—Holly Elliott

‘No indication’ Russian missiles hit Ukrainian warship, says munitions in Odesa, UK

Britain’s Ministry of Defense has said that, contrary to Russia’s claims, there is “no indication” that a missile attack on the port of Odesa last weekend actually hit a Ukrainian warship and a stockpile of anti-tank missiles.

“On July 24, 2022, Russian cruise missiles struck the pier in the port of Odesa, Ukraine. The Russian Ministry of Defense claimed to have hit a Ukrainian warship and a storage of anti-ship missiles. There is no indications that these targets were where they were. missiles hit,” the ministry said.

The comments come after Russia claimed it had used high-precision Kalibr missiles to destroy a ship repair plant in Odesa, destroying a docked warship and a cache of US-supplied Harpoon missiles. The strike disabled the production capabilities of the plant for the repair and improvement of ships of the Ukrainian Navy, said a Russian general. Ukrainian President Volodymyr Zelenskyy called the attack an act of “barbarism”.

The port of Odesa on July 20, 2022.

Bulent Kilic | Afp | Getty Images

In its latest intelligence update, the UK noted that “Russia almost certainly perceives anti-ship missiles as a key threat limiting the effectiveness of its Black Sea fleet.”

“This has significantly undermined the overall invasion plan, as Russia cannot realistically attempt an amphibious assault to seize Odessa. Russia will continue to prioritize efforts to degrade and destroy the anti-ship capability of Ukraine. However, it is highly likely that Russia’s targeting processes are routinely undermined by dated. intelligence, poor planning and a top-down approach to operations,” he added.

—Holly Elliott

Kharkiv bombed overnight; Donetsk cities and towns are under constant fire

Ukraine’s second-largest city, Kharkiv, came under fire overnight, with more shelling in the city, Kharkiv Mayor Ihor Terekhov said. telegram.

“Once again, the night bombing of the city. One of the areas of Kharkiv, which is closer to the city center, was affected. Traditionally, it was next to a building that had nothing to do with the military infrastructure,” Terekhov said, adding that it was still. it is unknown if there were any casualties after the strikes.

Firefighters conduct search and rescue operations after Russian forces stormed a cultural center in Chuhuiv, Kharkiv Oblast, Ukraine, on July 25, 2022.

Anadolu Agency | Anadolu Agency | Getty Images

In its latest military update on Tuesday, the general staff of Ukraine’s armed forces said Kharkiv and surrounding areas had come under fire from tanks, cannon and rocket artillery as Russian forces continued their assaults on the region of Donetsk of Donbas, with Kramatorsk, Sloviansk and Bakhmut. and the surrounding settlements under fire.

A damaged market in Bakhmut, Donetsk province, on July 25, 2022.

Anadolu Agency | Anadolu Agency | Getty Images

Nearby, Russia was also “concentrating its main efforts on trying to improve the tactical position and create the conditions for an offensive in the cities of Siversk and Soledar. Enemy units are replenishing stocks of ammunition, fuel and oil,” explained a Ukrainian General Staff spokesman. he said on Facebook.

—Holly Elliott

At least 100 nuclear plant employees kidnapped by Russian troops, says energy company president

A Russian serviceman patrols the territory of the Zaporizhzhia nuclear power plant in Energodar on May 1, 2022. The Zaporizhzhia nuclear power plant, seized by Russian forces in March, is located in southeastern Ukraine and is the largest in Europe and among the 10 largest in the world. This photo was taken during a media trip organized by the Russian military.

Andrey Borodulin | Afp | Getty Images

The president of a Ukrainian nuclear power plant said Russian forces kidnapped about 100 of its employees.

“There are about 500 Russian soldiers on the territory of the plant. They are the ones who let the employees into their workplaces and monitor everything that is happening on the territory of the Zaporizhzhya nuclear power plant,” said Petro Kotin of Energoatom. according to a translation by NBC News.

Kotin added that Russian troops took identification badges and entered a secure area inside the nuclear power plant. He said “it is not known what they did there.”

He said they may not have followed the proper security controls and “it’s quite possible they had radioactive contamination on their clothing outside the screening area.”

— Amanda Macias

Putin is waging a “gas war” against Europe, Zelenskyy says

Russian President Vladimir Putin attends a meeting with participants of the Bolshaya Peremena national competition for school students, via video link, in Moscow, Russia, on July 20, 2022.

Pavel Byrkin | Sputnik | Reuters

Ukrainian President Volodymyr Zelenskiy said Russian President Vladimir Putin is waging a “gas war” against Europe.

“Russia will not resume gas supplies to European countries, as it has a contractual obligation to do. And this is an open gas war, which Russia is waging against a united Europe.” Zelenskyy said during an evening address on the Telegram messaging app.

“They don’t care what will happen to the people, how they will suffer from hunger due to the blockade of ports or the winter cold and poverty,” Zelenskyy said, adding that Russia was engaging in “different forms of terror.”

He also called on world leaders to cut trade ties with Russia “as much as possible” to put pressure on Moscow.

— Amanda Macias

Russia’s Gazprom further cuts gas flow from Nord Stream 1 pipeline, citing repairs

The supplier of Nord Stream 1 said that gas flows have resumed after maintenance works.

Hannibal Hanschke | Reuters

Russia’s Gazprom said it would further reduce natural gas flows through a major pipeline to Europe to 20% of capacity, citing equipment repairs.

The Russian state-owned company tweeted that it would reduce “daily throughput” of the Nord Stream 1 gas pipeline to Germany to 33 million cubic meters starting Wednesday. The head of Germany’s grid regulator confirmed the reduction.

The move comes after Gazprom raised questions about the return of a piece that has been at the center of tensions over natural gas deliveries through the pipeline, saying it is not satisfied with the documents it has received.

The company reduced the flow of gas through the Nord Stream 1 pipeline by 60% in mid-June, citing alleged technical problems with equipment that partner Siemens Energy sent to Canada for review and that did not it was allowed to return due to sanctions over Russia’s invasion of Ukraine. .

Germany has rejected Gazprom’s technical explanation for the gas cut, repeatedly saying it was just a pretext for the Kremlin’s political decision to sow uncertainty and further increase energy prices.

– Associated press

Ukraine expects to start exporting agricultural products on Tuesday, the official said

Farmers harvest a wheat field near Melitopol in Ukraine amid the Russian attack.

Olga Maltseva Afp | Getty Images

Despite a Russian missile attack on a Ukrainian port over the weekend, Ukraine will begin exporting grain and other food products on Tuesday, the country’s deputy infrastructure minister said.

“Within the next day, we will be ready to work on restoring the export of agricultural products through our ports,” Yurii Vaskov told reporters Monday, according to an NBC News translation.

Vaskov said Chornomorsk will be the first port to reopen, followed by Odesa and Pivdennyi. Vaskov added that in the next two weeks, all ports will export agricultural products consistently.

— Amanda Macias


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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!