Ukraine kicked off a long-awaited armored assault on Russian fortifications in a counteroffensive thrust potentially aimed at severing Moscow’s land link to occupied Crimea. President Volodymyr Zelenskiy posted a video on Telegram saying that Ukrainian troops reclaimed the village of Staromaiorske in the Donetsk region.
(Bloomberg) — Ukraine kicked off a long-awaited armored assault on Russian fortifications in a counteroffensive thrust potentially aimed at severing Moscow’s land link to occupied Crimea. President Volodymyr Zelenskiy posted a video on Telegram saying that Ukrainian troops reclaimed the village of Staromaiorske in the Donetsk region.
Wheat prices rose after Ukraine said a Russian submarine fired two Kalibr cruise missiles at port infrastructure in Odesa, killing one person and damaging equipment at a cargo terminal. A reduced list of attendees at a summit with African leaders hosted by President Vladimir Putin in St. Petersburg also highlighted the Kremlin’s diminishing power as his war drags on.
The central bank in Kyiv cut official borrowing costs for the first time since Russia sent tanks and troops across the border in early 2022, taking a step toward easing an emergency monetary regime erected to shield the economy from the war. Ukraine’s parliament also extended martial law untill Nov. 16.
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Markets
Wheat in Chicago rose 0.6% to $7.245 a bushel by 12.28 London time. Russia’s Federal Security Service also said it denied passage through the Kerch Strait to a grain ship coming from Turkey after finding traces of explosives on board, according to the RIA news service.
Coming Up
- Russia Defense Minister Sergei Shoigu visits North Korea
- Ukrainian Foreign Minister Dmytro Kuleba is in Africa this week to discuss the collapse of the grain deal
- Russia-Africa summit underway in St. Petersburg
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