Ukraine
New Ukraine funding deal gives EU members opt out on military spending using CBR frozen funds
Neutral EU member states will be able to opt out of a plan to use profits from Russia’s central bank frozen assets to purchase weapons for Ukraine, six EU diplomats told Politico on May 6.
Ukraine’s Foreign Ministry calls on world to reject the legitimacy of Putin’s presidency
Ukraine’s Ministry of Foreign Affairs said it does not recognise Vladimir Putin as the democratically elected and legitimate president of Russia the day before he was due to be inaugurated for the fifth time.
Russian technology imports at pre-war levels, tougher export controls needed – Bruegel
Russia’s imports of Western technology have reached pre-war levels and the export control regime to stop the trade is full of holes. Tougher rules, enforcement and bigger fines are needed to curb the trade, according to a report by Bruegel.
The State of World Press Freedom
The 2024 World Press Freedom Index, compiled by Reporters Without Borders (RSF), was released today. This year, the agency highlights a “worrying decline in support and respect for media autonomy and an increase in pressure from the state.
KSE: Russian oil revenues rising, tougher sanctions needed on shadow fleet
Russian oil export revenues surged to $17.2bn in March 2024, driven by higher global oil prices and increased crude export volumes, according to the April ‘Russian Oil Tracker’ by KSE Institute.
RAGOZIN: Exhausting Russia, strategies and fantasies
The long-delayed allocation of $61bn by the US Congress gives Ukraine yet another chance to negotiate peace with Russia without losing even more lives and territory, provided it succeeds in stalling the current Russian offensive.
Ukraine's drone attacks on Russian oil refineries cause domestic petrol prices to surge
Ukrainian drone strikes on Russian oil refineries are causing a shortage of petrol on the domestic markets and have sent prices at the pump surging in the last few weeks.
Russia is producing weapons at a record pace, and Ukraine’s partners are trying to increase support for Kyiv
Russia is producing weapons at a record pace, and Ukraine’s partners are trying to increase support. Over the past year, Russia has learned to develop new weapons and ammunition faster than at any time in its modern history.
Lithuanian leaders back sending 29,000 military-age men back to Ukraine
Lithuanian President Gitanas Nauseda and Prime Minister Ingrida Simonyte believe that Lithuania should help Ukraine get back its military-age men living abroad.
Startup Defence Builder to build drones and technology requested by the army
Ukraine has witnessed a surge in defence tech innovation initiatives. Defence Builder is a startup accelerator aimed at fostering collaboration between Ukraine’s military, business and startup community to develop technologies requested by the army.
COMMENT: Ukraine’s macro risks remain manageable - ICU
Ukraine’s economy has proven to be resilient and is beginning to recover. But the weight of the war is still weighing heavily on the country and Russia’s intensified bombardment of recent months caused some analysts to lower their GDP forecasts.
Russia’s Economic Ministry issues bleak economic stress test scenario
Russia's Finance Ministry ran an extreme stress test on the economy for this year that assumes zero growth, a weakening ruble and falling oil and gas revenues in the worst-case scenario.
Ukraine waits impatiently for new US ammunition as intense Russian attacks continue
Ukraine needs at least seven Patriot air defence systems, Ukrainian President Volodymyr Zelenskiy said, urging allies “not to waste time,” in his daily broadcast on April 27, as Ukraine continues to get pummelled by Russian missiles.
Cheap Russian drones overwhelm US-made Abrams tanks, taken out of action
Ukrainian forces are withdrawing U.S.-provided Abrams M1A1 battle tanks from the front lines after at least 5 have been destroyed by cheap Russian drones.
NBU cuts rates 100bp to 13.5% on falling inflation
The National Bank of Ukraine (NBU) lowered the key policy rate by 100bp to 13.5% on April 25 and improved its inflation forecast as price pressure ease.
BOFIT: The long-awaited new US aid package brings military support to Ukraine
After a long wait, the US aid package for Ukraine of almost $61bn got the last seal with President Biden's signature on April 24, 2024. The sizeable package focuses especially on military material aid.
European Parliament rules Russia’s presidential election illegitimate, calls Putin a "murderer"
In a sting blow for the Kremlin, the European Parliament ruled that Russia’s presidential election was illegitimate and blamed Russian President Vladimir Putin personally for the “murder” of opposition activist Alexei Navalny.
Poland in two minds over Ukraine’s efforts to bring conscription-age men home
Poland is ready to help Ukraine bring conscription-age men home after Kyiv stepped up its mobilisation effort, a top government official said this week. But hundreds of thousands of people leaving Poland could be a huge problem for the economy.
Putinomics: Russia’s oil and gas revenue to double in April
Russia’s oil and gas revenues surged in the first three months of this year by 79%, but Reuters calculated they will double in April compared to the same month a year earlier, the newswire reported on April 24.
Ukraine recovery: the mountain to climb
A new report released by the Center for European Policy Analysis (CEPA) estimates the total damages from the Ukraine war at between $485bn and $1 trillion and notes that Western aid delivered thus far has been woefully inadequate for reconstruction.