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Putin Vows Response to Crimea Bridge Attack

RUSSIA
  • President Putin threatened to strike at Ukraine in retaliation for explosions that damaged Russia’s bridge to Crimea. “Russia will, of course, respond,” Putin said late Monday in a televised meeting with officials. “The Defense Ministry is preparing the appropriate proposals.”
  • Exports of diesel fuel from Russia in 1H grew by 11% y/y despite the EU embargo and price ceiling, Kommersant report. Turkey became the largest buyer, followed by Saudi Arabia and Brazil.
  • Russian grain companies lost about $1bln during the implementation of the grain export deal, Russian Grain Union President Arkady Zlochevsky said. The grain deal came to an end last night after Russia refused to extend it again because according to them, the part of the deal envisaging the removal of obstacles for Russian agricultural exports had not been implemented.
  • There are no major economic releases today. The CBR rate decision is the key risk event of the week on Friday.

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