The European Bank for Reconstruction and Development forecasted a 30% shrinkage in Ukraine's GDP in 2022, in its latest Regional Economic Prospects report. The forecast remains unchanged from the previous report in May.
With high levels of uncertainty about the progress of the war and Ukraine's economic recovery, the EBRD report updates its expectations for a GDP rebound in 2023 from 25% to 8%.
"Economic activity has been severely disrupted, even in regions without combat activity," the report stated, "due to supply bottlenecks, logistical challenges, financial difficulties, and a lack of adequate labor."
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News Feed
Sunday, August 10
Drones attacked an oil refinery in Saratov on Aug. 10, sparking a large fire and explosions, according to local reports.
Sunday, August 10
The White House is considering inviting President Volodymyr Zelensky to peace talks in Alaska on Aug. 15, the same day U.S. President Donald Trump and Russian President Vladimir Putin are set to meet.
Russian President Vladimir Putin and Belarusian dictator Alexander Lukashenko appear to have renewed their efforts to institute a migrant crisis within the EU with the assistance of Libyan warlord Khalifa Haftar, the Telegraph reported on Aug. 9.
(Updated: )
Ukrainian and European officials rejected Russian President Vladimir Putin's proposal for a ceasefire in exchange for Kyiv to cede its eastern territories to Russia, the Wall Street Journal (WSJ) reported on Aug. 9.
President Volodymyr Zelensky in his evening address on Aug. 9 rebuked Russian President Vladimir Putin's proposal for Kyiv to cede Ukrainian territory to end Russia's war, warning that a lack of a "genuine peace" may give Russia the opportunity to reinvade.
European leaders reiterated their support for Ukraine's territorial integrity on Aug. 9 after Russian President Vladimir Putin proposed to the U.S. a ceasefire plan that involves halting hostilities in exchange for Kyiv ceding its eastern territories to Russia.
As a result of the attack, five people were hospitalized with shrapnel wounds. The status of the injured victims was not immediately provided.
Flight delays lasted for several hours, leading to large crowds forming at Sochi Airport.
Canada will lower the price cap on Russian crude oil from $60 to $47.60 per barrel.
Ukrainian drones from the SBU's Special Operations Center "A" flew roughly 1,300 kilometers (about 800 miles) to strike the logistics hub.
(Updated: )
The Russian strike took place at approximately 8:00 a.m. local time, resulting in the hospitalization of 16 people, two of whom suffered serious injuries.
Vladislav Vlasiuk, the president's representative on sanctions policy, said the latest sanctions are "100% synchronized" with U.S. restrictions.
The Yenisei radar station is used not only in Russia's S-500 air defense system but also as part of the S-400 system.
Russian forces launched 47 Shahed-type drones and decoys, as well as two Iskander-K missiles against Ukraine overnight, according to Ukraine's Air Force.
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