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The country’s gross domestic product is expected to shrink by 12% as a result of the Western sanctions imposed due to Russia's aggression against Ukraine, according to an internal Finance Ministry forecast obtained by Bloomberg. A potential oil embargo, a decline in Russian gas consumption by EU countries, and the mass exodus of foreign companies from the Russian market were named as the key reasons for the worst expected downturn since 1994. Natalia Lavrova, chief economist at BCS Financial Group, said the trend is likely to expand gradually, “with a lot of negative carrying over into 2023.”
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Thursday, June 11
The confirmed hit put the bridge out of commission, and additional strikes are not needed, the Da Vinci Regiment said, adding that "the enemy's important logistical route is completely paralyzed."
(Updated: )
A fire broke out at the Afipsky Oil Refinery in Russia's Krasnodar Krai overnight on June 11, amid a massive Ukrainian attack, eyewitnesses claimed.
*Ukraine aims to isolate Crimea from Russia, drone commander 'Madyar' says *Ukraine's drone advantage over Russia grows as nearly 180,000 military targets struck in May, Syrskyi says*Ukraine reportedly strikes military targets, hit several bridges in large-scale attack across Russian-occupied CrimeaNew*Lockheed Martin unable to guarantee Patriot missile delivery timelines for US allies, top executive says
Ukrainian forces carried out at least 31 strikes against Russian refineries, oil export terminals, and pipeline infrastructure in May, the highest monthly total since the start of Russia's full-scale invasion.
The comments come as Ukraine has intensified its campaign against Russian logistics routes and military infrastructure connecting occupied Crimea to Russian-controlled territory.
"We are all here together, we are defending the state, we are the same and we have absolutely the same rights, regardless of any prejudices held by people from the 15th century," President Volodymyr Zelensky said, in a rare public reference to the topic.
Ukraine currently maintains a 1.5-to-1 advantage over Russian forces in the use of FPV drones, with the gap continuing to widen in recent months, Commander-in-Chief Oleksandr Syrskyi said.
(Updated: )
During the meeting, the Russian side presented "an objective assessment of the destructive policies" of Western countries, namely the ongoing support of Ukraine via the Coalition of the Willing, the Russian Foreign Ministry said.
(Updated: )
Ukraine struck military targets in Russian-occupied Crimea, hitting several bridges as multiple explosions were reported across the peninsula overnight on June 11, according to local authorities and monitoring channels.
The news comes after a stray Ukrainian naval drone exploded in the Romanian Black Sea Port of Constanta on June 5, without causing casualties.
"We do not control what the allocation of those missiles is going to be. We can't tell anybody where you're going to be on that (priority list)," Brian Dunn, Lockheed Martin's vice-president for strategy and business development for missiles and fire control, said.
Russian forces launched two Iskander ballistic missiles and 221 drones, 195 of which were intercepted, overnight on June 11, according to the Air Force.
U.K. Defense Secretary John Healey has been among the strongest advocates for Ukraine within the British government.
