Ukraine Recap: US to Supply Cluster Bombs for Counteroffensive

The US said it will supply cluster bombs to Ukraine to help ensure Kyiv has adequate firepower to press its counteroffensive, overruling concerns the weapons could lead to civilian casualties.

(Bloomberg) — The US said it will supply cluster bombs to Ukraine to help ensure Kyiv has adequate firepower to press its counteroffensive, overruling concerns the weapons could lead to civilian casualties.

President Joe Biden called the move a “difficult decision” given the risk posed by cluster bombs, but said Russia has been raining the munitions on Ukraine for months.

Earlier Friday, Ukrainian President Volodymyr Zelenskiy met President Recep Tayyip Erdogan in Istanbul for talks on issues including the July 17 expiration of the Black Sea grain deal — brokered by Turkey and the UN. The visit was part of of a broader sweep of visits to NATO members that took Zelenskiy to Slovakia, Bulgaria and the Czech Republic, as he seeks a clearer path to joining the military alliance before the group’s summit in Vilnius next week. 

Alliance members agreed to a new pledge to spend at least 2% of GDP on defense, firming up NATO’s previous goal.

The European Union agreed to a raft of measures aimed at boosting the bloc’s production of ammunition and missiles. An EU assessment says sanctions have “significantly degraded Russia’s industrial and technological capacity” and that the impact will continue to build. Russian operators at the occupied Zaporizhzhia atomic plant continue to ignore safety warnings, the UN’s nuclear watchdog said. 

The death toll from a Russian missile strike on Lviv in Ukraine’s far west on Thursday has reached ten. Ukraine’s defense spending will remain high into 2024, underscoring the need for allies to provide war-risk insurance to help attract investment, the nation’s finance minister told Bloomberg TV. 

Latest Coverage

  • US Sends Cluster Bombs to Ukraine Despite Civilian Threat
  • Zelenskiy on Diplomatic Swing as Ukraine Seeks NATO Path 
  • NATO Allies Agree on New Pledge to Spend at Least 2% of GDP
  • EU Says Cost of Sanctions Will Hit Russia Harder Over Time 
  • Ukraine Finance Chief Sees Urgent Need for War-Risk Insurance

Coming Up 

  • NATO summit in Lithuania July 11-12
  • Russian invasion hits 500-day mark this weekend

Markets 

Oil Heads for Second Weekly Climb 

Oil posted a second weekly gain as evidence mounted that the decision by OPEC+ leaders Saudi Arabia and Russia to tighten supplies was making a mark across physical markets.

 

More stories like this are available on bloomberg.com

©2023 Bloomberg L.P.