GBAF Logo
Global Banking & Finance Awards® 2026 Nominations open, free to enter Nominate now →
Shareholders supporting PHP's bid for Assura in finance news - Global Banking & Finance Review
The image depicts a financial market scene highlighting Assura shareholders' support for PHP's takeover bid, emphasizing investor confidence in UK finance amid private equity competition.
Finance

Russia pounds Kyiv with missiles

Published by Global Banking & Finance Review

Posted on July 31, 2026

1 min read

· Last updated: August 1, 2026

Add as preferred source on Google
Finance Banking Markets Geopolitics Ukraine

Russia pounds Kyiv with missiles, killing at least three

Russian Missile Attack Devastates Ukraine's Capital

By Yuliia Dysa

Casualties and Immediate Impact

KYIV, Aug 1 (Reuters) - At least three people were killed in a Russian missile attack on Ukraine's capital Kyiv early on Saturday and several people were trapped in a partially collapsed building as a result of the strike, the city's mayor said.

Eyewitness Accounts

More than a dozen explosions reverberated through the city, according to Reuters witnesses.

Escalation of Attacks and Air Defence Challenges

Russia has stepped up attacks on the capital in recent months, while Ukraine is chronically short of air defences capable of downing ballistic missiles, which travel at several times the speed of sound.

Extent of Structural Damage

The first and second floors of the damaged residential building had partially collapsed, Kyiv Mayor Vitali Klitschko said, and some warehouses were also on fire.

Hospitalisations and Emergency Response

Five people were hospitalised, he added.

Reporting and Editorial Credits

(Reporting by Yuliia Dysa; Editing by Daniel Flynn)

Key Takeaways

  • Kyiv’s air-defence systems, especially at the high-altitude tier, remain critically under-stocked in interceptors like Patriot PAC‑3, limiting its ability to thwart Russian ballistic missiles (e.g. from Iskander‑M and hypersonics) (euronews.com)
  • Russia appears to be deliberately exploiting these defense gaps, firing large salvos—recently up to 30 ballistic missiles per night—knowing Ukraine lacks the means to counter them effectively (defenceukraine.com)
  • Ukraine continues to press allies for emergency resupply and is pursuing alternative solutions, including building a European anti‑ballistic missile coalition and exploring indigenous interceptor development (apnews.com)

References

Frequently Asked Questions

What happened in Kyiv on August 1?
Kyiv was under a Russian ballistic missile attack, resulting in powerful explosions across the city.
Why is Kyiv vulnerable to missile attacks?
Kyiv lacks sufficient air defences capable of downing ballistic missile threats, making the city more vulnerable.
Who reported the missile strikes in Kyiv?
The missile strikes were reported by Kyiv's mayor and confirmed by a Reuters witness.
What types of explosions were heard in Kyiv during the attack?
Rounds of powerful explosions were heard, consistent with ballistic missile strikes.

Tags

Related Articles

Image for Soccer-Infantino adviser quits, report says FIFA World Cup sell-off plan is dead

Soccer-Infantino adviser quits, report says FIFA World Cup sell-off plan is dead

Image for North Korea says NATO fuel plan shows alliance preparing for war

North Korea says NATO fuel plan shows alliance preparing for war

Image for FIFA has scrapped $20 billion World Cup sell-off plan, New York Post reports

FIFA has scrapped $20 billion World Cup sell-off plan, New York Post reports

Image for UK's Healey tells ministers to prepare for budget cuts, The Times reports 

UK's Healey tells ministers to prepare for budget cuts, The Times reports 

Image for Thousands rally in Kyiv demanding ousted defence minister's reinstatement

Thousands rally in Kyiv demanding ousted defence minister's reinstatement

Image for Norse Atlantic starts formal process for possible sale or merger

Norse Atlantic starts formal process for possible sale or merger

More from Finance

Explore more articles in the Finance category

Image for Trump says US has not agreed to Ukraine building Patriot missiles
Trump says US has not agreed to Ukraine building Patriot missiles
Image for Banco BPM ends talks on potential merger with Monte dei Paschi
Banco BPM ends talks on potential merger with Monte dei Paschi
Image for Founder of Russian retailer Wildberries calls Ukrainian attacks 'acts of terrorism'
Founder of Russian retailer Wildberries calls Ukrainian attacks 'acts of terrorism'
Image for NXP in talks to buy chip developer Ambarella, FT reports
NXP in talks to buy chip developer Ambarella, FT reports
Image for Low Danube escalates power crisis in Hungary and Romania
Low Danube escalates power crisis in Hungary and Romania
Image for Trump says he never spoke to FIFA leader about sale
Trump says he never spoke to FIFA leader about sale
Image for Romania declares state of emergency as low Danube levels hit power output
Romania declares state of emergency as low Danube levels hit power output
Image for Oil price rises after Iran says it stops ships in Hormuz
Oil price rises after Iran says it stops ships in Hormuz
Image for Ares CEO says it should probably be bigger in private equity
Ares CEO says it should probably be bigger in private equity
Image for Carlsberg's 'hydration break' jab spotlights growing corporate rift over FIFA stake sale
Carlsberg's 'hydration break' jab spotlights growing corporate rift over FIFA stake sale
Image for New UK finance minister Healey to hold first budget on October 28
New UK finance minister Healey to hold first budget on October 28
Image for Vatican finances boosted by gold, real estate gains last year
Vatican finances boosted by gold, real estate gains last year
View All Finance Posts