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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Tuesday, July 15
"The government coalition rejects the imbecile proposal of the European Commission to stop the flow of Russian gas from 2028," Slovak Prime Minister Robert Fico said.
Denmark and Sweden are open to help deliver U.S. weapons, including Patriot air defense systems, to Ukraine via NATO, countries' officials said on July 15.
U.S. President Donald Trump's remarks come after the Financial Times (FT) reported, citing undisclosed sources, that he asked President Volodymyr Zelensky whether Kyiv could strike Moscow or St. Petersburg if provided with long-range U.S. weapons.
Vitaliy Shabunin, head of the Anti-Corruption Action Center's (AntAC) executive board and current member of the country's Armed Forces, was charged on July 11 with evading military service and fraud — an accusation he and his team reject.
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Donald Trump encouraged the strategy so that Russia could "feel the pain" and agree to negotiations, the Financial Times reported, citing its sources.
"The stolen data includes confidential questionnaires of the company's employees, and most importantly, full technical documentation on the production of drones, which was handed over to the relevant specialists of the Ukrainian Defense Forces," a source in Ukraine's military intelligence told the Kyiv Independent.
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The vote passed by 305 deputies, with 40 abstaining, and none voting against.
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The parliament is set to dismiss the government on July 16 as Prime Minister Denys Shymhal submitted his resignation.
Following talks with Russian Foreign Minister Sergey Lavrov in Beijing on July 15, Chinese President Xi Jinping declared that mutual trust between the two countries had "deepened" and called on both sides to "strengthen mutual support on multilateral forums."
The chief executive of Euroclear told the FT that the EU's proposal would amount to "expropriation" — forced seizure — because if Russia demands the assets back in the future, they would not be available.
Hungarian Prime Minister Viktor Orban called upon the EU to take action against Ukraine's conscription practices in an interview with Origo published on July 15, amid an ongoing dispute with Kyiv over the death of a Ukrainian conscript of Hungarian ethnicity.
