Russia threatened to pull out of the United Nations-brokered grain deal to protect Ukrainian shipments after accusing Kyiv of launching an attack on its Black Sea fleet with unmanned boats.
(Bloomberg) — Russia threatened to pull out of the United Nations-brokered grain deal to protect Ukrainian shipments after accusing Kyiv of launching an attack on its Black Sea fleet with unmanned boats.
Russia’s Defense Ministry said the weaponized craft were launched from the Ukrainian port of Odesa, which is central to the grain deal. A Ukrainian intelligence official called accusations that Ukraine was using a humanitarian corridor for an attack “deceptive manipulation,” according to broadcaster Suspilne.
Moscow has repeatedly threatened to withdraw from the deal. Wheat markets brushed off the latest warning, extending losses to the lowest level since July 2021 on prospects for ample global supply.
Key Developments
- Lawyer Laundered Oligarch Money by Paying Bills for NY Homes
- Wheat Drops to Lowest Since 2021 Even as Russia Warns on Pact
- Eastern Europe Borrowing Soars as War in Ukraine Strains Budgets
- Russia Mulls Cut in Multibillion-Dollar Subsidy to Oil Firms
(All times CET)
Garland Meets With Chief Justice (5:15 a.m.)
US Attorney General Merrick Garland met in Washington Tuesday with Vsevolod Kniaziev, the chief justice of Ukraine.
The two men discussed “the challenges posed by wartime conditions” in running a justice system, and “expanding access to justice, especially in those areas most affected by the war,” according to a Justice Department account of their encounter.
Sweden Expels Five Russian Diplomats (2:26 p.m.)
Sweden expelled five diplomatic staff members from the Russian embassy, broadcaster SVT reported. The ambassador was summoned by Swedish authorities.
“Their activities on our territory have been incompatible with their status as diplomats,” said Sweden’s Foreign Minister Tobias Billstrom in an interview.
Ramaphosa Says Putin Arrest Warrant ‘Under Discussion’ (1:36 p.m.)
South African President Cyril Ramaphosa said the matter of the International Criminal Court’s arrest warrant for President Vladimir Putin ahead of his expected visit to the BRICS summit in August is “under consideration and discussion.”
Ramaphosa declined to specify the timing of the expected decision, speaking to reporters at a joint news conference with visiting Finnish counterpart Sauli Niinisto in Pretoria. The ICC relies on its member states, such as South Africa, to arrest suspects before it can hold a trial.
Could Putin Really Be Prosecuted for War Crimes?: QuickTake
Russian Billionaire Blasts EU Bans in Legal Test (12:57 p.m.)
Russian billionaire Dmitry Pumpyansky attacked European Union sanctions against him and his family as making them “collateral damage” in the bloc’s foreign policy efforts to thwart Putin.
Pumpyansky, his wife and son were sanctioned following Russia’s invasion of Ukraine subjecting them to stringent travel bans and asset freezes. The listings are “based on an abuse of power” and serve “no understandable, no reasonable purpose under the EU foreign policy goals,” one of the family’s lawyers told the EU’s lower court on Tuesday.
EU Bid to Swap Russia Gas for Offshore Wind Is Falling Short (12:22 p.m.)
European efforts to rapidly scale-up offshore wind farms to help cut dependence on Russian natural gas and reduce planet-warming emissions are falling short as developers struggle to deliver projects.
Significant changes in how governments offer new developments as well as incentives for hydrogen production are crucial to get Europe on track to reach its renewable power goals, which are key to the EU’s climate and energy security plans, according to Rasmus Errboe, head of Europe for Orsted A/S, the largest offshore wind farm developer in the region.
Poland Warns Russia Can Afford to Wage War in Longer Term (11:32 a.m.)
Polish Prime Minister Mateusz Morawiecki warned that Russia, shielded from democratic accountability, can afford to wage a war in Ukraine in the longer term.
“Russia and its public opinion are patient,” he said at briefing with Estonia’s premier, Kaja Kallas, in Warsaw. “It can withstand various election and democratic cycles. It’s a huge risk we are facing today.”
Estonia and Poland are seeking to strengthen security guarantees for Ukraine as they are too close to Russia to be neutral in the conflict, he said.
Kremlin Sees Economy Growing, Deficit on Target (11:00 a.m.)
Russia’s economy will grow 1%-2% in 2023 and the budget deficit will shrink toward the government’s target after surging earlier in the year, Kremlin economic adviser Maxim Oreshkin said, according to Interfax.
“The deficit will be close to the target level” of 2% of gross domestic product, he told a Kremlin youth conference. “After a period of rather high expenditures at the start of the year, the budget will be in surplus through the end of the year,” he said.
A drop in revenue and spiking spending early this year led to record deficits, raising fears that the budget would come under more pressure, but the situation has steadied recently with government income rising and expenditures stabilizing.
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