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 Halted Oil Flows to Europe Over Payment Issue, Russia’s Transneft Says
MOSCOW—Ukraine has suspended Russian oil pipeline flows to parts of central Europe since early this month because Western sanctions prevented it from accepting transit fees from Moscow, Russian pipeline monopoly Transneft said on Tuesday. Benchmark Brent crude oil jumped by $2 per barrel to trade near $98 as the news added to concerns about reduced…
Two More Grain Ships Leave Ukraine, Bringing Total to 12 Under New Deal
ISTANBUL—Two more grain-carrying ships left Ukraine’s Chornomorsk port on Tuesday, Turkey’s defense ministry said, as part of a deal to unblock Ukrainian sea exports, bringing the total to leave the country under a safe passage deal to 12. The Ocean Lion left for South Korea, carrying 64,720 tons of corn, it said, while the Rahmi…
Russia Halts US Inspections of Its Nuclear Arsenals
MOSCOW—Russia on Monday announced a freeze on U.S. inspections of its nuclear arsenals under a pivotal arms control treaty, claiming that Western sanctions have hampered similar tours of U.S. facilities by Russian monitors. The move reflects soaring tensions between Moscow and Washington over Russia’s military action in Ukraine and marks the first time the Kremlin…
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…
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…
Biden Administration to Spend Additional $4.5 Billion to Keep Ukrainian Government Functioning
The United States will send out another $4.5 billion to help keep the Ukrainian government afloat, the U.S. Agency for International Development (USAID) said Monday. The government of Ukraine, which is running on a deficit almost six months into its full-scale military conflict with Russia, is expected to receive the first payment of $3 billion…
Turkey Offers ‘A Warehouse and Bridge’ for Metals Trade to Russia
August 8, 2022
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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…
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