Ukraine launched an attack in the southwestern Zaporizhzhia region that analysts said appears to have broken through Russian defensive positions, although the fog of war is obscuring the extent of the advance.
President Volodymyr Zelenskiy bolstered the reports that a major thrust was underway in the counteroffensive that Ukraine launched more than seven weeks ago, saying “our boys at the front had very good results today. Well done! Details later.”
A reduced list of attendees at a summit with African leaders hosted by President Vladimir Putin in St. Petersburg is highlighting the Kremlin’s diminishing power as his war drags on. US President Joe Biden, meanwhile, asked officials to share evidence of Russian war crimes in Ukraine with the International Criminal Court, reversing his administration’s stance.
Latest Coverage
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- Putin Hosts Africa Summit in the Shadow of Grain Deal’s Collapse
- Kim Jong Un Meets Russia Defense Minister on War Anniversary
- US to Share Evidence of Russian War Crimes With Hague Court
- Ukraine to Cut Rates First Time Since Invasion: Decision Guide
- Western Companies in Russia Fear More Asset Grabs by the Kremlin
Markets
Russian drone strikes on Ukraine’s Danube port of Reni underlined an International Monetary Fund forecast that grain prices may rise 10-15%. Yet the impact may be milder than in 2022 as supply chains have had time to adjust.
While wheat futures are up 3% in the past month, they are still down 9% this year, amid ample supply. Corn lost 19% this year on bumper crops in Brazil and the US.
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 opens in St. Petersburg