Ukraine Latest: Russia Says Drone Attacks Threaten Grain Deal

Russia blamed Ukraine for drone attacks it said could put a UN-brokered deal for grain shipments at risk.

(Bloomberg) — Russia blamed Ukraine for drone attacks it said could put a UN-brokered deal for grain shipments at risk. 

Russia’s Defense Ministry said unmanned boats targeted the Black Sea Fleet station in Sevastopol and civilian infrastructure in Crimea. It was not immediately possible to verify the information.

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

  • Wheat Drops to Lowest Since 2021 Even as Russia Warns on Pact
  • Xi’s Charm Offensive Falters After China Envoy Angers Europe
  • Lavrov Sees No Progress on Russian Part of Black Sea Grain Deal
  • Contest for Oil Like Russia’s Is Finally Heating Up for Europe

(All times CET)

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 Aide 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 revenues 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.

Medvedev Reiterates Nuclear-War Risk Rising (9:30 a.m.)

Dmitry Medvedev, the Russian former president known for his threatening comments against the US and its allies, warned again that the risk of nuclear war is growing, state news agencies reported.

Speaking to a Kremlin youth group at a rocket factory outside Moscow, Medvedev described in detail the destructive power of a nuclear blast, saying, “does that prospect exist today? Alas, yes, and it’s growing with every day for well-known reasons,” according to a video posted by RIA Novosti.

Since Russia invaded Ukraine last year, Medvedev, who now is deputy head of the Security Council, has repeatedly warned of the risk of nuclear war. The comments have drawn criticism not only from the US and its allies, but also from China and India, which have supported Russia in the conflict.

Missile Kills One, Destroys Museum in Ukraine (9:00 a.m.)

Russian forces shelled the center of Kupyansk, a city in Ukraine’s north-eastern Kharkiv region. The attack killed one person and wounded at least ten, Ukrainian President Volodymyr Zelenskiy said on Telegram.

The strike destroyed a history museum in the center of the city. Other victims are trapped under the rubble. Russia used S-300 air defense missiles in the attack, regional governor Oleh Synehubov said on Telegram. The city is some 36 kilometers (22 miles) from the border with Russia.

Attack in Ukraine’s Donetsk Kills Two (8:40 a.m.)

Two civilians were killed and 13 injured in Ukraine’s eastern Donetsk region in the past 24-hour period, Kharkiv governor Oleh Synehubov said on Telegram. A woman was killed by a Russian attack in the Kherson region, according to governor Oleksandr Prokudin’s Telegram.



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