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Russia Launches More Strikes; Biden Pledges Help

Posted on 11/10/2022 by

(Bloomberg) — Russia launched fresh strikes Tuesday in Zaporizhzhia and Lviv as air-raid sirens sounded across Ukraine, one day after the most intense barrage since the first days of the invasion and President Vladimir Putin’s threats to hit more infrastructure targets.

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The Group of Seven leaders are scheduled to hold a call Tuesday, where Russia’s strikes on civilian targets top the leaders’ agenda. Putin has said the fresh assault was a retaliation for explosions on a multibillion-dollar bridge connecting Russia to Crimea. Ukraine hasn’t claimed responsibility for that incident.

China said it was worried about the worsening situation in Ukraine following the latest strikes.

(See RSAN on the Bloomberg Terminal for the Russian Sanctions Dashboard.)

Key Developments

  • Biden Condemns ‘Utter Brutality’ of Russian Missile Strikes

  • Russian Firms Turn to Hong Kong in Bid to Avoid Sanctions

  • Senator Urges Freeze in Arms Sales to Saudis Over Tilt to Russia

  • Putin Escalates With Civilian Strikes as Army Struggles at Front

  • Ukraine’s Allies Can’t Get Arms Fast Enough as Stockpiles Shrink

On the Ground

Infrastructure facilities were damaged in a new missile attack on the city of Zaporizhzhia, while the Dnipropetrovsk region was shelled by Russian forces overnight, local authorities reported on Telegram. At least 23 people were killed in Monday’s strikes, the office of Ukrainian President Volodymyr Zelenskiy said. Cities hit by the strikes in the past day included Kyiv, Lviv, Rivne, Zhytomyr, Ternopil, Khmelnytskyi, Ivano-Frankivsk, Vinnytsya, Kharkiv, Kremenchuk, Dnipro, Kryvyi Rih, Mykolayiv and Odesa, the Ukrainian General Staff reported.

(All times CET)

Russia Ready to Consider Putin-Biden Meeting, Lavrov Says (12:50 pm)

Foreign Minister Sergei Lavrov said Moscow is ready to consider “any proposals” for an end to the war in Ukraine, including a meeting between Putin and US President Joe Biden. However, he downplayed the chances for any diplomatic solution.

“We are ready to listen to any proposals but we can’t say in advance that a specific process will definitely yield results,” he said on state TV Tuesday. “We need to know exactly what’s on the table.”

China Express Concern on Ukraine After Russian Missile Strikes (12:15 pm)

“We are concerned about the development of the current situation and call on relevant parties to resolve their differences through dialogue and consultation,” Foreign Ministry spokeswoman Mao Ning said at a regular news briefing in Beijing.

The comments are the latest sign China is worried about Russia’s protracted conflict in Ukraine, although it has refrained from openly criticizing Moscow.

Russian Attacks on Ukrainian Energy System Continue (12:00 pm)

A power and thermal plant in Vinnytsia region in central Ukraine was shelled by drones Tuesday, the DTEK Ladyzhynska facility said on its Facebook account. Energy equipment was damaged.

One third of the city of Lviv suffered power cuts following Tuesday’s missile strikes, major Andriy Sadovyi said on Telegram. Water supplies in two city districts are not stable and the mayor urged residents to stock up on water.

Remains of Ukrainian Forces Killed in Explosion Returned (11:30 am)

Ukraine reclaimed 62 bodies of its soldiers, including those killed in an explosion in Olenivka in the Donetsk region in late July, according to Oleg Kotenko, the commissioner for missing persons. “We brought back those who were in hell,” Kotenko said.

Olenivka was one of the places where Ukrainian prisoners of war, particularly from Mariupol, were kept. An explosion there killed at least 50 soldiers and injured more. Ukraine asked for the return of its soldiers and conducted difficult negotiations with the Russians, who publicly declined to let Ukrainian authorities, the Red Cross or other humanitarian organizations visit Olenivka.

Ukraine’s Iron-Ore Maker Ferrexpo Halts Operations (8:30 am)

One of the largest Ukraine’s iron-ore producers, Ferrexpo PLC, suspended operations due to limited power supplies, the company said in a filing to the London Stock Exchange.

The company’s core assets are located in Ukraine’s Poltava region, which was among the targets in Monday’s strikes on electricity and other infrastructure. The company said that it currently has a sufficient volume of its products, either currently in transit and or in stockpiles, to meet its expected sales volumes, subject to logistics corridors remaining available.

Ukraine’s Cities Recover After Missile Strikes (8:15 am)

Ukraine’s regions are recovering after Monday’s missile strikes, with water and electricity supply resuming in the cities of Lviv in the west and Poltava in the center of the country, according to local government administrations.

While power supply has also resumed in several districts of the capital Kyiv, the city and broader region are going to limit consumption of electricity by implementing a schedule of power cutoffs during the day, according to the power company DTEK.

UAE Says Ukraine Requires Urgent Solution as Ruler to Meet Putin (8 am)

The escalation of the conflict in Ukraine requires an urgent diplomatic solution, a senior United Arab Emirates official said. The comments come ahead of a visit by UAE ruler Sheikh Mohammed Bin Zayed Al Nahyan to Russia on Tuesday, where he will meet with Putin in St. Petersburg.

The visit was a pre-scheduled one, UAE presidential adviser Anwar Gargash wrote on Twitter, but events on the ground need a solution via “diplomacy, dialogue and respect for the rules and principles of international law,” he wrote.

The speaker of Russia’s lower house of parliament, Vyacheslav Volodin, said Moscow views Ukraine’s government as “terrorist” and thus won’t negotiate with Kyiv. Zelenskiy, henceforth, last month signed an order ruling out talks with Putin.

Wheat Prices Rise Amid Fresh Fears (7 am)

Wheat traded near the highest level in more than three months, deepening fears over the outlook for grain supplies from a country once known as the breadbasket of Europe.

Ships are still moving normally from Ukraine despite the missile strikes, according to the UN. However, there is a long backlog of vessels waiting to be inspected in Istanbul.

Truss Will Press G-7 to Stay the Course on War (1 am)

UK Prime Minister Liz Truss will urge leaders of the Group of Seven nations to “not waver” in their support for Ukraine following Russia’s latest missile attacks on civilian targets, according to a statement from her office. The leaders are holding an emergency call Tuesday with Zelenskiy to discuss a response.

Truss will also call for an urgent meeting of NATO leaders, according to an emailed statement. The G-7 leaders are expected to discuss the global energy crisis and the work they’re doing to implement an international cap on the price of Russian oil.

UK Spy Chief Says Russia’s Munitions Running Out (1 am)

Jeremy Fleming, the director of the UK’s intelligence, cyber and security agency GCHQ, will say Russia’s military commanders in Ukraine know their munitions and supplies are running out, according to prepared remarks.

In a speech in London on Tuesday, he will add that Ukraine’s response in battle and in cyberspace “is turning the tide” against “exhausted” Russian forces.

Biden Pledges to Keep Giving Ukraine Support to Defend Itself (10:04 pm)

“President Biden pledged to continue providing Ukraine with the support needed to defend itself, including advanced air defense systems,” according to a White House statement on President Joe Biden’s phone call with Zelenskiy. “He also underscored his ongoing engagement with allies and partners to continue imposing costs on Russia, holding Russia accountable for its war crimes and atrocities, and providing Ukraine with security, economic, and humanitarian assistance.”

Zelenskiy, in his daily statement, said “we are doing everything to get modern air defense. And I thank our partners who are already speeding up deliveries.”

Biden didn’t specify what air defense systems the US will provide. A US arms package announced in August included six National Advanced Surface-to-Air Missile Systems. The NATO-standard air defense system, produced by Raytheon Technologies Corp., is used to protect the Washington region, including the White House. Two NASAM systems were previously pledged to Ukraine.

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