The European Union ended a ban on Ukrainian crop imports in five of its eastern countries, prompting Poland, Hungary and Slovakia to quickly announce a return to unilateral restrictions. Ukraine last week threatened to file a complaint at the WTO if Poland banned its grain. Meanwhile, Russia is tightening its grip on the world wheat export market after another huge harvest.
(Bloomberg) — The European Union ended a ban on Ukrainian crop imports in five of its eastern countries, prompting Poland, Hungary and Slovakia to quickly announce a return to unilateral restrictions. Ukraine last week threatened to file a complaint at the WTO if Poland banned its grain. Meanwhile, Russia is tightening its grip on the world wheat export market after another huge harvest.
North Korean leader Kim Jong Un capped his visit to Russia – which including a summit with President Vladimir Putin – by viewing next-generation missile systems at an airfield near Vladivostok and meeting with Defense Minister Sergei Shoigu. He’s expected to return to Pyongyang on Saturday. Kim inspected Russia’s Kinzhal missile system, supersonic bombers and the latest weapons on the MiG-31 missile carrier, Russia’s defense ministry said. The visit is believed to have been to ink deals with Moscow for the provision of ammunition to Russia’s army.
Ukraine’s military leaders spoke Friday with US General Christopher Cavoli, NATO’s Supreme Commander for Europe. In a new flurry of activity around Ukraine’s counteroffensive, defense chiefs from NATO nations continue their meeting in Oslo, days before the Ukraine defense contact group is scheduled to meet in Germany and ahead of a planned trip by President Volodymyr Zelenskiy to the US that will include the UN General Assembly and a meeting with President Joe Biden.
The UK defense ministry warned that Russia may again target Ukraine’s energy infrastructure this winter, having built up a “significant stockpile” of cruise missiles fired by strategic bomber, which can be released from deep within Russian territory.
- EU Ends Ukraine Crop Import Ban, Heightening Trade Tensions
- Kim Jong Un Meets Russian Defense Minister, Inspects New Missile
- Biden, Zelenskiy to Meet at White House Following UN Summit
- Russia Raises Rates With Ruble Weaker Despite Emergency Hike
- Flood of Russian Wheat Halves World Prices From Wartime High
Oil rose for a third straight week — and a 10th out of the past 12 weeks — as the market continued to tighten on the back of supply curbs from Saudi Arabia and Russia.
Wheat futures rose above $6 a bushel but remains near multi-month lose as traders balance the impact of dry weather on crops in key exporters against bumper harvests in parts of the Northern Hemisphere, including Russia.
- US-led Ukraine Defense Contact Group meets on Sept. 19
- UN General Assembly from Monday
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