Support our war crimes investigations unit Support
Skip to content

News Feed

2:14 PM
Moldova’s President Maia Sandu warned against the dangers of Russian propaganda and disinformation in the country and proposed the creation of a new governmental body to counter this threat. The envisioned “Patriot Center” would coordinate and implement the state's strategy on combatting disinformation, Sandu said during a press conference on May 29.
Want to partner with the Kyiv Independent?
Contact the Tellers Agency to connect your brand with independent media.
9:32 AM
Ukraine launched an attack on Russian positions in Russian-occupied Berdiansk in the southeastern Zaporizhzhia Oblast, the exiled local authorities reported on May 29. At least five strikes were allegedly conducted on the evening of May 28, the authorities said, while local Telegram channels reported explosions near the airport.
9:08 AM
According to the report, Russia has also lost 3,801 tanks, 7,467 armored fighting vehicles, 6,207 vehicles and fuel tanks, 3,435 artillery systems, 575 multiple launch rocket systems, 331 air defense systems, 313 airplanes, 298 helicopters, 3,054 drones, and 18 boats.
Ukraine Daily
News from
Ukraine in your
2:38 AM
Russian forces shelled nine communities in Sumy Oblast on May 28, firing close to 50 rounds from various types of weapons, the Sumy Oblast Military Administration reported on Telegram.
10:36 PM
The Russian military heavily shelled the Kupiansk district of Kharkiv Oblast on May 28, the State Emergency Service reported. As a result of the attack, a 74-year old woman suffered shrapnel wounds in the village of Kucherivka.
5:08 PM
“The Air Defense Forces of Ukraine. You heard the air raid alarm differently than most people,” President Volodymyr Zelensky said in the aftermath of Russia's overnight attack on Kyiv on May 28. “You look up to destroy enemy missiles, aircraft, helicopters, and drones. Every time you shoot down enemy drones and missiles, lives are saved.”
1:35 PM
The bill includes a complete ban on trade with Iran, investments, and transferring technologies, as well as stopping Iranian transit across the Ukrainian territory, and preventing the withdrawal of Iranian assets from Ukraine.

watch us on facebook

Edit post

Bloomberg: Russia saved $80 billion in foreign assets in year under sanctions

by The Kyiv Independent news desk March 14, 2023 3:15 PM 1 min read
This audio is created with AI assistance

Over the first year of its all-out war against Ukraine, Russia accumulated nearly a third of its profits from commodity exports abroad, creating a new potential target for Western sanctions, Bloomberg reported on March 14.

According to a Bloomberg Economics estimate, about $80 billion of Russia's funds are dispersed across cash deposits, real estate, and investments in affiliated companies.

As a byproduct of a record current-account surplus, these shadow reserves have helped the Kremlin maintain its finances in the face of international sanctions introduced last year, the publication wrote.

"Due to Europe's delay with targeting Russia's energy sector, the Kremlin was able to accumulate one of the largest current-account surpluses in its history," said Maria Shagina, an economist at the UK-based International Institute for Strategic Studies, as quoted by Bloomberg. "This has de facto negated the effect of freezing the central bank assets in March 2022, as Russia could recoup what it lost."

By amassing assets abroad in 2022, Russia reportedly received a replenishment of about 5% of its gross domestic product.

These foreign assets could potentially become the next target of sanctions by Ukraine's allies, especially if the state directly manages the money, according to Bloomberg. Though Russia's government is a shareholder in many large exporters that contributed to last year's windfall, it is reportedly unclear who controls the funds.

Bloomberg added that even if the Western countries identified the owners of these funds and proved their links to Russia's state to impose sanctions, the proportion of discovered assets would likely be smaller than the official estimates.

The European Council issued a press release on March 13 extending sanctions against 1,473 individuals and 205 entities who support Russia's war against Ukraine for an additional six months.

According to the European Council, they hope the sanctions will deprive Russia of the ability to sustain the war by weakening its economy and denying it access to essential technologies and markets, diminishing its capacity to wage war.

WSJ: Russia's budget deficit widens after Western sanctions nearly halve oil and gas revenues

Editors' Picks

Support us

Enter your email to subscribe

Please, enter correct email address


* indicates required
* indicates required


* indicates required
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.