President Vladimir Putin’s forces closed in on their objective of capturing Ukraine’s jap area of Luhansk as Ukrainian troops withdrew from town of Lysychansk, the final Kyiv-controlled redoubt in the realm.
The Russian chief made a public show of the seizure, telling his protection minister, Sergei Shoigu, in televised remarks to offer troopers who had captured town a relaxation and depend on different models to proceed offensive operations. The Ukrainian army stated holding Lysychansk would have led to “fatal consequences” in opposition to Russia’s benefit in artillery, aviation, ammunition and personnel.
Ukraine plans to current a blueprint for reconstruction following Russia’s invasion, which has destroyed cities, displaced thousands and thousands and devastated the economic system. The plan, which shall be unveiled at a two-day convention in the Swiss metropolis of Lugano, contains investments in infrastructure, local weather and digital. Separately, European Commission President Ursula von der Leyen will current a platform to coordinate European Union donations to mobilise what may quantity to greater than 500 billion euros ($522 billion).
Key Developments
- Ukraine to Unveil Massive Rebuilding Plan Even as War Bogs Down
- Putin’s Media Blitz on Africa Food Crisis Sparks Alarm in Europe
- Germany Risks a Cascade of Utility Failures, Economy Chief Says
- JPMorgan Sees ‘Stratospheric’ $380 Oil on Worst-Case Russian Cut
- The Great European Energy Market Bailout Is Only Getting Started
On the bottom
With Lysychansk beneath its management, Russia is switching its focus additional west into Donetsk, intensifying shelling of the area, in keeping with Ukrainian officers. Moscow’s forces additionally hit residential areas, leaving 9 civilians killed and 25 wounded there during the last 24 hours. Russia is trying to blunt a counteroffensive by Kyiv’s forces in the Kharkiv area in the northeast as properly as the Kherson and Mykolayiv areas in the south, the Ukrainian army stated.
(All occasions CET)
Putin Makes Public Display of Victory in Luhansk Region (1:23 p.m.)
The Russian chief congratulated Defense Minister Sergei Shoigu after Russian forces took management of a Lysychansk. Speaking in televised feedback, Putin informed Shoigu to offer the models concerned in the newest offensive day without work to relaxation and to shift duty for persevering with operations to different forces.
Shoigu had reported to Putin on Sunday that Russian forces had taken management of town, a fiercely contested industrial middle that was one of many final main targets outdoors Moscow’s management in Luhansk.
Ukraine Reclaims Black Sea Island Abandoned by Russia (1:18 p.m.)
The Ukrainian army stated the nation’s jurisdiction over Snake Island, a strategically vital outpost off the Black Sea coast, had been recovered. Natalia Humeniuk, a spokeswoman for the army’s southern command, stated in a video briefing that the nationwide flag had been planted on the territory.
Russian forces took management of the island in the western Black Sea early in the struggle however struggled to carry it as Kyiv ordered a collection of missile and artillery assaults. Russia confirmed final week that its troops had left the island.
US Envoy to Beijing Urges China to Stop Spreading Russian ‘Lies’ (9:43 a.m.)
The US ambassador to China referred to as on the Foreign Ministry in Beijing to cease spreading Russia’s “lies,” in an unusually direct and public rebuke by the highest American diplomat in the nation.
Ambassador Nicholas Burns made the “request” in response to a query at a government-backed discussion board Monday about what China may do to resolve the disaster over Russia’s invasion of Ukraine. Burns reiterated President Joe Biden’s name for Beijing to keep away from serving to Moscow perform the struggle, earlier than pivoting to a simmering level of rivalry between the world’s two largest economies.
EIB to Propose 20-Billion Euro Fund for Rebuilding (8:19 a.m.)
The European Investment Bank will suggest a brand new 20 billion-euro fund to assist finance the reconstruction of Ukraine when donors collect in Lugano.
The fund would purpose to mobilize as a lot as 100 billion euros of funding from different sources over the following 10 years and will doubtlessly be scaled up, in keeping with folks aware of the matter.
That’s only a fraction of what Ukraine will want when the struggle is over. The EIB has estimated that the prices of rebuilding the nation may surpass 1 trillion {dollars} and the has EU has acknowledged that it’s going to cowl the majority of the prices.
Russian Warship Sails Near East China Sea Disputed Isles, NHK Says (5:35 a.m.)
A Russian Navy vessel joined a warship from China in crusing close to islands in the East China Sea early Monday, Japanese public broadcaster NHK stated citing authorities officers. Japan earlier expressed “grave concerns” to Beijing over one in every of its warships on Monday passing close to the uninhabited islands — recognized as Senkaku in Japan and Diaoyu in China — which can be on the middle of a territorial dispute between Japan and China.
In May, Russian and Chinese warplanes performed a joint drill close to the airspace of US allies Japan and South Korea, in a present of energy by the long-time companions that got here as President Biden wound down an Asian journey to hunt help over Putin’s invasion of Ukraine.
Australia to Ban Russian Gold Imports (1:40 a.m.)
Australia will prohibit imports of Russian gold, becoming a member of companions together with Canada, Japan, the UK and the US in a measure that can scale back Russia’s capacity to fund its struggle, Prime Minister Anthony Albanese’s workplace stated in an announcement following his go to to Kyiv on Sunday.
Plans for the 4 Group of Seven international locations to ban imports of recent Russian gold have been introduced earlier than final week’s summit of G-7 leaders in Germany. Australia isn’t a part of the group.
© 2022 Bloomberg