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Ukraine and Russia: What you need to know right now
Global Banking & Finance Review®
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(Reuters) – Russian forces were launching an all-out assault to encircle Ukrainian troops in twin cities straddling a river in eastern Ukraine on Tuesday, a battle which could determine the success or failure of Moscow’s main campaign in the east.
(Reuters) – Russian forces were launching an all-out assault to encircle Ukrainian troops in twin cities straddling a river in eastern Ukraine on Tuesday, a battle which could determine the success or failure of Moscow’s main campaign in the east.
DIPLOMACY
* Kyiv must win the war it is fighting against Moscow, making the invasion of Ukraine a strategic failure for Russia’s President Vladimir Putin, European Commission President Ursula von der Leyen told global business leaders in Davos on Tuesday.
* Jailed Russian opposition leader Alexei Navalny on Tuesday lambasted Putin in a live court hearing, casting him as a madman who had started a “stupid war” in Ukraine based on lies.
* The United States is confident that Finland and Sweden will be able to resolve Turkish concerns about their seeking membership in NATO, Deputy U.S. Defence Secretary Kathleen Hicks said on Tuesday.
FIGHTING
* Russia’s defence ministry said on Tuesday that its forces struck an arms depot in the eastern Ukrainian region of Donbas used to store shells for U.S.-produced M777 howitzers.
Reuters was not able to independently verify the report.
* Poland intends to buy six additional Patriot missile batteries, the defence minister said on Tuesday, as the NATO-member strengthens its military after Russia’s invasion of Ukraine.
ECONOMY
* Russia is using food supplies as a weapon with global repercussions, acting the same way as it does in the energy sector, European Commission President Ursula von der Leyen said on Tuesday.
* Britain is in discussions with Ukraine about how to help get grain out of the country after Russia blocked its main sea ports, transport minister Grant Shapps said on Tuesday.
* Analyst APK-Inform on Tuesday raised its forecasts for Ukraine’s 2022/23 grain crop and exports because of a better-than-expected winter harvest.
QUOTE
* “This is a stupid war which your Putin started,” jailed Russian opposition leader Alexei Navalny told an appeal court in Moscow via video link from a corrective penal colony. “This war was built on lies.”
(Compiled by Nick Macfie)
Economic growth refers to an increase in the production of goods and services in an economy over a specific period, typically measured by the rise in GDP.
Financial stability is a condition in which the financial system operates effectively, with institutions able to withstand economic shocks and continue to provide essential services.
An international financial institution (IFI) is an organization that provides financial and technical assistance to countries for development projects, often aimed at reducing poverty and promoting economic growth.
The President plays a crucial role in shaping economic policy, making decisions that affect fiscal and monetary policies, and influencing international trade agreements.
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