KYIV, Ukraine—Powerful explosions rocked a Russian air base in Crimea on Tuesday, and at least five people, including a child, were wounded, authorities said. Russia’s Defense Ministry said that munitions blew up at the Saki base, and it emphasized that the installation had not been shelled. But Ukrainian social networks were abuzz with speculation that…
German Economy to Lose $265 Billion in Added Value Due to War, High Energy Prices: Study
BERLIN—Germany’s economy will lose more than 260 billion euros ($265 billion) in added value by 2030 due to the Ukraine war and high energy prices, spelling negative effects for the labor market, according to a study by the Institute for Employment Research (IAB). In comparison with expectations for a peaceful Europe, Germany’s price-adjusted gross domestic…
Ukraine, Russia Trade Blame for Nuclear Plant Shelling
KYIV—Kyiv and Moscow traded blame on Monday for the weekend shelling of Ukraine’s Zaporizhzhia nuclear complex amid international alarm that their battle for control of the plant could trigger catastrophe. Calling any attack on a nuclear plant “suicidal,” U.N. chief Antonio Guterres demanded U.N. nuclear inspectors be given access to Zaporizhzhia, the largest complex of…
Two More Grain Ships Sail From Ukraine as Third Port Opens
August 8, 2022
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Business & MarketseconomyEuropeexportfood shortagesRussia-Ukraine WarRussia's invasionUkrainianWorld
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ISTANBUL—Two more ships, carrying corn and soybeans, departed from Ukrainian Black Sea ports on Monday, Turkey and Ukraine said, taking the total to ten since the first ship sailed last week under a deal with Russia to unblock Ukrainian grain exports. The United Nations and Turkey brokered the agreement last month after warnings the halt…
Biden Admin Sends $1 Billion to Ukraine in Largest yet Arms Package Drawn From US Stockpiles
Nearly six months into the Russia–Ukraine war, the Biden administration on Monday announced a $1 billion security assistance package for Ukraine, coming on the same day it announced some $4.5 billion in aid to keep Ukraine’s government running. Acting Pentagon press secretary Todd Breasseale announced that the latest $1 billion in aid “to meet Ukraine’s critical…
Turkey Offers ‘A Warehouse and Bridge’ for Metals Trade to Russia
August 8, 2022
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Business & Marketscrisiseconomic policieseconomyEuropeGold and CommoditiesMarketsmetalsRussiaRussia-Ukraine WartradeTurkeyUkraineWorld
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ISTANBUL—Western sanctions have given the Turkish metals sector a chance to serve as “warehouse and bridge,” the head of an industry group said, citing increased interest from Russian companies and also from EU companies seeking to sell to Russia via Turkey. The West, including Britain and European Union countries, have imposed sanctions on Russian elites,…
Medvedev: Russia Will Achieve Its Aims in Ukraine
LONDON—Former Russian President Dmitry Medvedev said on Monday that Russia would achieve its aims in the conflict in Ukraine on its own terms, warning that the West had a long-term plan to destroy Russia. “Russia is conducting a special military operation in Ukraine and is attaining peace on our terms,” Medvedev, who serves as deputy…
First Ukraine Ship Under Grain Deal Will Not Dock in Lebanon on Time: Embassy
BEIRUT—The first grain ship to leave a Ukrainian port under a deal brokered last month will not arrive in Lebanon on Sunday as planned, the Ukrainian embassy in Lebanon said. The Razoni left Odesa on the Black Sea on Aug. 1 carrying 26,527 tons of corn and was set to dock on Sunday in the…
3 More Ships With Grain Depart Ukraine Ports Under UN Deal
August 6, 2022
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Business & MarketsEuropeGold and CommoditiesgrainInternationalMarketsRussia-Ukraine WarshipmentsUkraineWorld
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Three more ships carrying thousands of tons of corn left Ukrainian ports Friday and traveled mined waters toward inspection of their delayed cargo, a sign that an international deal to export grain held up since Russia invaded Ukraine was slowly progressing. Two of the three ships anchored north of Istanbul on Saturday are awaiting inspection,…
Russia Bans Western Investors From Selling Banking, Key Energy Stakes
August 6, 2022
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Business & MarketsCompaniescrisisDecreeeconomic policieseconomyenergyEuropeInvestmentMarketsRussiaRussia-Ukraine WarstocksUkraineVladimir PutinWorld
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MOSCOW—Russia has banned investors from so-called unfriendly countries from selling shares in key energy projects and banks until the end of the year, stepping up pressure in the sanctions stand-off with the West. Western countries and allies, including Japan, have piled financial restrictions on Russia since it sent troops into Ukraine in late February. Moscow…
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