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Drone Attacks on Ukraine Intensify; Imports of Chinese Cars Continues to Grow

RUSSIA
  • The Wall Street Journal report that Russia launched 35 Iranian-made suicide drones at Kyiv and other Ukrainian cities overnight as Ukrainian forces engaged in heavy battles in the south of the country as part of their attempt to advance.
  • Russia has ramped up its missile and drone attacks on Ukrainian cities in part to prevent Kyiv from deploying more of its scarce air-defence systems to the front line in the south. Meanwhile, the Russian defence ministry said it thwarted Ukraine’s own attempts at drone attacks on Moscow, Tass report.
  • Banks and brokers from friendly countries may be allowed to participate in organised foreign currency trading in Russia in the near future, Kommersant report.
  • Imports of new cars into Russia continued to grow amid the limited supply of cars in the local market, Kommersant report. Deliveries from China set a new record in monetary terms, reaching nearly $1b per month. Compared to January-May 2022, imports have increased by 2.7 times in the same period this year.
  • Bank of Russia Governor Elvira Nabiullina is scheduled to speak at the Federation Council today (0900BST/1100 local time) while President Putin will hold an online meeting with the government to discuss natural resources supply for industries. The Federal Statistics Service reports May producer prices and 2Q consumer confidence index at 1700BST/1900 local time.
Political Risk BulletEM BulletHomepageBulletPolitical RiskEmerging Market News
Political Risk BulletEM BulletHomepageBulletPolitical RiskEmerging Market News

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