It’s been more than three and a half months since Russia invaded Ukraine on February 24. Also, there are some indications that the fight will be over soon. Here is everything you need to know about the current situation.
America accuses Russia of worsening hunger situation
According to US Secretary of State Antony Blinken, America is trying to move grain and other items out of China Ukraine And bypass Russia’s blockade so goods can reach markets and consumers, perhaps lowering prices. Blinken said about 200 million people worldwide are “severely food insecure,” up from 100 million three years ago.
Severodnetsk battle the most difficult: Zelensky
The conflict for the Luhansk city of Severodnetsk, according to Ukrainian President Volodymyr Zelensky, is “the heart of the confrontation in the Donbass”. Only about 15,000 people live in the city, with a population of over 100,000 before the invasion. According to local officials, Russian forces control a large part of the region. “It’s a very brutal fight, a very tough one,” Zelensky said. “This is probably one of the most difficult during the entire war. In many respects, the fate of our Donbass is being decided there.”
Buy war bonds, Zelensky tells businesses
Ukraine’s President Volodymyr Zelensky has urged businesses, especially international firms, to invest in the country, including buying government “war” bonds. War bonds are one of the major tools used by the government of Ukraine to raise funds to fill the budget deficit created by the high costs and revenues lost as a result of the war.
“The war bond is a tool for both of you who support us in the fight for freedom and earn, earn from us,” Zelensky said.
East European stocks hit by fears of war
The proximity of the war in neighboring Ukraine has turned Budapest and Warsaw equities into some of the world’s worst performers, with local factors compounding the damage.
EU task force to identify tax offenses of sanctioned Russians
The European Union has set up a working group to look into the tax issues of Russians and Belarusians that have been approved by the Union. The task force will “detect potential tax offenses and recover unpaid taxes” relating to approved individuals and companies, as well as act as a watchdog to ensure intermediaries comply with restrictions on providing financial and tax services to approved individuals. Will do
Microsoft significantly scales down Russia operations
Microsoft is significantly reducing its business in Russia, joining a long list of major technology companies that have moved in or out of the country. The company said in a statement that it would continue to meet existing contractual obligations while suspending new sales affecting more than 400 employees.
Fuel sales up 10% thanks to Ukrainian refugees
Poland’s biggest oil business has seen fuel sales at its gas stations rise 10% in recent months, following an influx of Ukrainian refugees. According to refiner PKN Orlen SA, the main reason for the significant increase in sales is that in a country of 38 million people there are about a million additional Ukrainian cars.
Ukraine denies peace deal
Foreign Minister Dimitro Kuleba said a peace deal that would stop the current conflict for years and ignore Ukraine’s interests would be unnecessary, and that Kyiv should be part of any talks.
Ukraine wants to buy Israel’s defense system
According to the Jerusalem Post, Ukraine wants to buy Israel’s Iron Dome air defense system, according to Ukraine’s envoy Yeven Kornichuk. According to the envoy, the US has authorized Germany to deliver Spike missiles to Ukraine, but Israel has so far rejected the offer.
Russian billionaires desperate to escape sanctions
Russian billionaires who have been sanctioned as a result of Putin’s invasion of Ukraine are taking to EU courts in an attempt to get him off the list of wealthy people. Since the European Union began enforcing retaliatory sanctions in February, there have been nearly 20 appeals filed by some of Russia’s wealthiest tycoons or their family members.
Ukraine will pay a heavy price for the war, the global economy
According to the Organization for Economic Co-operation and Development (OECD), the international economy will pay a “heavy price” for the war in Ukraine, including slow growth, high inflation and potential long-term damage to supply networks. According to predictions presented in Paris, the organization lowered its global growth forecast for this year from 4.5 percent in December to 3 percent and quadrupled its inflation forecast for its 38 member countries to nearly 9 percent.
Russian imports from Belarus Top German business
According to a Bloomberg study of the latest figures, Russian imports from Belarus, a Kremlin ally used to help plan the invasion, overtook Germany for the first time, an economy more than 60 times larger. Sales to Russia from trading countries, which collectively accounted for about half of its imports in 2021, were down about 40% in April from a year earlier, according to Bloomberg calculations. Even countries that have not joined forces with the US and its allies in enforcing sanctions, such as China, are reducing cargo supplies.
(with inputs from Bloomberg)