Advertisement
Canada markets closed
  • S&P/TSX

    22,167.03
    +59.95 (+0.27%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CAD/USD

    0.7381
    -0.0006 (-0.08%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • Bitcoin CAD

    95,075.59
    +572.38 (+0.61%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • RUSSELL 2000

    2,124.55
    +10.20 (+0.48%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • NASDAQ

    16,379.46
    -20.06 (-0.12%)
     
  • VOLATILITY

    13.01
    +0.23 (+1.80%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • NIKKEI 225

    40,475.16
    +307.09 (+0.76%)
     
  • CAD/EUR

    0.6845
    +0.0002 (+0.03%)
     

Ukraine Latest: US to Give $3 Billion in Arms on National Day

(Bloomberg) -- The U.S. will announce $3 billion more in arms for Ukraine on Wednesday, when the country will mark a tense Independence Day and six months since Russia’s invasion, according to a US official.

Most Read from Bloomberg

US diplomats warned that Russia is preparing intensified attacks on Ukraine’s civilian infrastructure and government facilities in coming days, and Ukrainian President Volodymyr Zelenskiy has said the Kremlin may attempt a “particularly cruel” assault.

ADVERTISEMENT

Zelenskiy also reinforced a pledge to drive Russian occupiers from Crimea, which Moscow annexed in 2014.

The Ukrainian leader also denied any role in the car bombing that killed Darya Dugina, the daughter of Russian nationalist Alexander Dugin, after Russian authorities accused Ukrainian special services of orchestrating the killing. Russian President Vladimir Putin called the assassination a “dastardly crime.”

(See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.)

Key Developments

  • Estonia Rejects Russian Accusations After Car-Bomb Murder

  • Sanctioned Billionaire’s Yacht Attracts 63 Bids at Auction

  • Corn Jumps With US Farm Tour Exposing Woeful State of Crop

  • Latvia Detains Seven in Protest Over Soviet Monument Removal

  • Russian Diamonds Are Quietly Flowing Again After Sanctions Chaos

On the Ground

Russian troops focused intense operations around Bakhmut and Avdiivka in the eastern Donbas region, Ukraine’s General Staff said on Facebook. Parts of the northern Chernihiv and northeastern Sumy regions, as well as areas in the south of the country were also targeted, according to the statement. Russia shelled Ukraine’s second-largest city, Kharkiv, on Tuesday morning, the regional Governor Oleh Synyehubov said on Telegram, adding that there were no casualties. The city of Dnipro also came under fire in the afternoon, with rocket fragments hitting private houses, Dnipro Mayor Boris Filatov wrote on Facebook.

(All times CET)

Clash at UN Focuses on Nuclear Plant (12:06 a.m.)

Russian and Ukrainian representatives to the United Nations traded accusations during a Tuesday afternoon Security Council meeting focused on the status of the Zaporizhzhia nuclear power plant, with each accusing the other’s forces of shelling in the vicinity of the facility and calling for an inspection by the International Atomic Energy Agency.

Rosemary DiCarlo, UN under secretary general for political and peace-building affairs, repeated calls by Secretary-General Antonio Guterres to withdraw all military forces from the plant and grant the IAEA inspectors access.

Vassily Nebenzia, Russia’s permanent representative to the UN, accused Ukraine of shelling the nuclear plant and the international community of “whitewashing” alleged violations by the Ukrainian government. Sergiy Kyslytsya, the Ukrainian representative, said Russia alone was responsible for the risks, which he said would abate when Moscow withdraws its troops, as had occurred at the Chernobyl facility earlier in the war.

US to Give Ukraine $3 Billion in Arms on Independence Day (8:00 p.m.)

The US plans to announce $3 billion in additional arms to Ukraine on Wednesday, the nation’s Independence Day, according to a US official. The latest weapons package was reported earlier Tuesday by the Associated Press.

It will be the largest single installment of US security assistance since Russia’s invasion.

Germany to Provide Ukraine With More Than $500 Million in Aid (6:53 p.m.)

German Chancellor Olaf Scholz has finalized a planned shipment of additional weaponry and ammunition worth more than 500 million euros ($499 million) to Ukraine, according to government officials familiar with the plans.

The German government will provide more ammunition, anti-drone devices and armored recovery vehicles to Ukraine in the coming weeks as part of a fresh package announced by the German leader on Tuesday. Scholz spoke to a conference in Kyiv along with other world leaders via video link from Toronto.

Estonia Rejects Russian Accusations After Car-Bomb Murder (5:07 p.m.)

Estonian officials rejected Russian accusations that the Baltic nation played a role in a high-profile murder of Dugina, saying the Kremlin was retaliating against a staunch opponent of its war in Ukraine.

Moscow’s Federal Security Service, without providing evidence, said the assassin fled across the border into Estonia after the car-bomb killing of Dugina. Estonian Foreign Minister Urmas Reinsalu called the charges baseless, saying the “aggressive rhetoric” is a way to intensify pressure on his country. A ministry spokesman, Mihkel Tamm, placed the accusations in the context of Reinsalu’s call for a blanket European Union ban on Russian travel visas.

Ukraine Seeks to Raise up to $16 Billion by Year-End (4:07 p.m.)

Ukraine expects to raise between $12 billion and $16 billion by the end of the year after receiving more than $14 billion in financing from foreign allies already in 2022, Prime Minister Denys Shmyhal said during a government meeting in Kyiv.

The Ukrainian state budget has spent almost 1 trillion hryvnia ($27 billion) since Russia began its invasion on Feb. 24, with more than 40% of expenses used to cover military needs, such as paying salaries to servicemen and buying and maintaining weapons and munitions.

Sanctioned Billionaire’s Yacht Attracts 63 Bids at Auction (3:40 p.m.)

A luxury yacht once owned by sanctioned billionaire Dmitry Pumpyansky has attracted 63 bids in Gibraltar, in the first public auction of an asset seized since the start of the war in Ukraine.

The five deck, 72-meter (236 feet) yacht Axioma was put up for sale after JPMorgan Chase & Co. called in a 20.5 million-euro ($20.4 million) loan tied to the vessel. The floating palace, which boasts an infinity swimming pool plus a 3D cinema, was impounded in March by authorities on the British territory at the entrance to the Mediterranean Sea.

Zelenskiy Vows to Drive Russian Occupiers Out of Crimea (2:48 p.m.)

Ukraine’s leader reiterated that Crimea, which Russia annexed in 2014, must be liberated. He spoke at a conference in Kyiv that brought together top officials from nearly 60 states, including Group of Seven nations, in person or via video link.

“Where it began, there it will also end,” Zelenskiy told participants.

Russia has turned Crimea into one of the most heavily militarized regions in Europe, NATO Secretary General Jens Stoltenberg said during the summit. Russia has launched 750 missiles from Crimea at Ukraine since the start of the invasion in February, Zelenskiy said.

Russian Diamonds Are Quietly Flowing Again (2:38 p.m.)

The panic that gripped the diamond world this year is starting to unwind as sanctioned Russian mining giant Alrosa PJSC has quietly revived exports to near pre-war levels.

Alrosa accounts for about a third of global rough-diamond supply, and the $80 billion industry was thrown into turmoil as cutters, polishers and traders hunted for ways to keep buying from Russia while their banks couldn’t or wouldn’t finance payments. The sudden shortage of stones sent diamond prices surging, especially for the smaller and cheaper gems that Alrosa specializes in.

Germany, Slovakia Agree Tank Swap Deal (2:30 p.m.)

Germany and Slovakia have signed a letter of intent that would see Slovak Soviet-era tanks supplied to Ukraine replaced with 15 Leopard 2 A4 tanks from German industry stocks in a package including munitions, replacement parts and training. The Czech Republic’s Defense Ministry has said it has a similar deal with Germany.

German Defense Minister Christine Lambrecht said the so-called “three-way exchange” with Slovakia is an effective means of increasing material support for Ukraine alongside direct deliveries of weapons. “Slovakia will deliver tanks to Ukraine as soon as possible, which the soldiers there are already familiar with and which can be used immediately to defend the country against Russia,” she added in an emailed statement.

Latvia Detains Seven in Protest Over Soviet Monument Removal (1:30 p.m.)

Latvian police detained seven people during protests over the planned demolition of a towering Soviet-era World War II monument, the latest potential flashpoint between the Baltic region and Russia.

As protesters gathered late Monday, police in Riga said they issued 10 citations and were probing violations for petty hooliganism and disobeying lawful orders, the police said in a statement on Facebook. Authorities have also closed the airspace around the monument to drones.

Nearly 1 Million Refugees Have Arrived in Germany (1:27 p.m.)

About 1 million Ukrainian refugees -- mostly women and children -- have come to Germany since Russia’s invasion, according to the German interior ministry. It’s unclear how many people have stayed in the country and there are indications that a “significant number” may have traveled on to other EU countries or returned home.

“I am very proud of the humanity and willingness to help in our country,” Interior Minister Nancy Faeser said in an emailed statement. Around 700 refugees from Ukraine are still arriving each day, according to a police estimate.

(An earlier version corrected the spelling of Darya Dugina’s surname, in fourth paragraph.)

Most Read from Bloomberg Businessweek

©2022 Bloomberg L.P.