Nato formally signed off on plans to bring Sweden and Finland into the defence alliance, moving a step closer to bolstering its eastern front against Russia following the invasion of Ukraine.
With Lysychansk under its control, Russia is switching its focus further west into Donetsk, intensifying shelling of the region, according to Ukrainian officials. Fighting continues on the Bakhmut axis, which has emerged as a new flashpoint. Ukrainian forces repelled a Russian assault close to Slovyansk, the Ukrainian General Staff said, with the city’s mayor urging residents to evacuate as the frontline moves closer.
The currency dropped as much as 11% to 62.30 per dollar amid broad strength in the greenback that also saw the euro plunge to a two-decade low. The decline follows Russia’s relaxation of capital controls and its cancelling of a rule forcing the conversion of export revenues to roubles.A key pipeline delivering Russia’s natural gas to Europe may not return to full capacity after planned maintenance this month, Goldman Sachs Group said, echoing the concerns of German officials.
The ministry is planning to seek financial aid from the European Commission to build additional grain silos, as the existing storage capacity at all terminals in Varna is 150,000 tonnes.Turkey is threatening to veto Nato membership for Sweden and Finland, even as the military alliance formally paved the way for the two Nordic countries to join.
Italy’s second-largest lender is looking at several possible deal arrangements, including one that would give it the option of buying back the unit depending on market and political conditions, said the people, who asked not to be identified because the matter isn’t public. Ukraine is expected to harvest as much as 60 million tonnes of grain this year, but the available storage is already about 30% full with last year’s grain, which it wasn’t able to export due to the conflict. The FAO will provide polyethylene grain sleeves, other modular storage and grain loading and unloading machinery.
Trade flows into Russia remain far below pre-invasion levels, but imports for the five major trading partners were down 29% in May on the year, compared with a 43% drop in April. Bloomberg calculated the figures based on reports from those countries, which account for about half of Russian imports. Russia stopped releasing detailed trade data after the invasion.
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