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Moscow Strikes Kyiv For First Time in a Month

RUSSIA
  • Missiles struck Kyiv for the first time in a month over the weekend, in what’s seen as a warning for Western countries not to send longer-range missile systems to Ukraine. Undeterred, the UK are to send weapons systems to Ukraine including missiles with an 80km range, following on from similar moves from the US last week. In an interview this weekend, Putin warned that longer-range missile system deliveries to Ukraine would result in Russia hitting targets that had, so far, been avoided.
  • Russia have reached an agreement with Turkey for the passage of Ukrainian grain through Odessa, which would involve Turkish ships escorting grain-carrying vessels to the Black Sea for export around the world, according to Izvestia. It’s thought the details will be finalised and agreed upon at a meeting of Russian and Turkish defence and foreign policy officials on Wednesday.
  • Severodonetsk remains the centre of conflict, with intense fighting persisting over the weekend. Washington Post reports that Ukrainian forces have regained some key ground in the area, but most of the city remains contested.
  • Interfax reports that the government are in support of an extension of fertilizer export quotas until mid-2023 – which would mark a pushback of the current deadline of year-end.
  • Kommersant write that the influence of FX rates on inflation has increased “to the point of unpredictability” citing comments from the CBR. The pieces writes that imbalances in the flows of goods and capital after March now do not accurately assess the “pass-through effect” of changes in the RUB to domestic prices, according to analysis from the Central Bank.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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