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Russia says it destroyed 2 Ukrainian sea drones in the Black Sea
Russia’s naval forces destroyed two Ukrainian sea drones in the northwest of the Black Sea, as they headed for the Crimean Peninsula, Russia’s Ministry of Defense said in a Google-translated Telegram post.
Russia uses the Sevastopol naval base in the Crimean Peninsula, which Moscow annexed in 2014, for its Black Sea fleet.
Ukrainian military has previously reported instances of its sea drones striking and sinking Black Sea Fleet ships off the Crimean Peninsula.
CNBC could not independently confirm the developments.
— Ruxandra Iordache
Russia reportedly says proposed EU ban on LNG imports would hurt implementers more
Russia could handle a European Union ban on imports of Russian liquefied natural gas (LNG), the RIA news agency cited a foreign ministry official as saying Wednesday.
Dmitry Birichevsky, director of the economic cooperation department of the Russian Foreign Ministry, said the proposed ban would hurt its implementers more, resulting in higher prices for European consumers and EU companies.
“The ban on imports and transit is currently being discussed within the framework of the EU structures, will lead to another round of rising prices for raw materials, including for European consumers, financial costs for European companies, will create new risks to international energy security, and will negatively affect the functioning of transport and logistics corridors,” he said.
“Once again, the imposed restrictions will hit directly to their initiators,” he continued, adding that Russia had already redirected supplies to new markets such as China and India.
The EU is contemplating a ban on Russian LNG transshipments as part of a 14th sanctions package.
— Karen Gilchrist
Ukraine says it shot down 13 drones overnight
The Ukrainian air force said it shot down 13 out of 14 drones launched overnight by Russia, according to a Google-translated Wednesday update on the Telegram messaging app.
The attack took place over the Mykolaiv, Kirovohrad and Rivne regions and involved Iranian-make Shahed drones, the Ukrainian air force added.
Falling debris in the Rivne area led to a blackout enveloping some settlements as a result of the attack, regional Governor Oleksandr Koval said in a separate Google-translated Telegram post.
He added that no injuries took place and local power supply has been restored.
CNBC could not independently verify developments on the ground.
— Ruxandra Iordache
France’s Macron says Kyiv should be allowed to use allies’ weapons against Russian military sites
German Chancellor Olaf Scholz and French President Emmanuel Macron address the media during a press conference at Schloss Meseberg on May 28, 2024 in Gransee, Germany.
Michele Tantussi | Getty Images News | Getty Images
French President Emmanuel Macron said late Tuesday that Kyiv should be allowed to use Western arms against Russian military sites used to target Ukraine.
“How can we explain to Ukraine that they need to protect their cities . . . but that they don’t have the right to attack where the missiles are coming from? It’s as if we were telling them we’re giving you arms but you cannot use them to defend yourself,” Macron said late Tuesday during a press conference in Meseberg, Germany.
Macron was joined by German Chancellor Olaf Scholz, who agreed that Ukraine should be allowed to defend its territory as long as it respected the conditions of the weapons suppliers.
Russian President Vladimir Putin warned of serious consequences if Russia is struck with Western weapons.
— Karen Gilchrist
Putin says West provoked Russia’s offensive on Kharkiv and that Ukraine has refused peace talks
Russian President Vladimir Putin on Tuesday said the West provoked the country’s offensive on Ukraine’s Kharkiv region.
Putin said the West ignored warnings from Russia to stop Ukraine from striking the border region of Belgorod, according to Reuters. Such strikes that use weapons provided by Western countries require support from Western specialists, he added, saying that this could have serious consequences.
Putin said that it was Ukraine, not Russia, that had brought previous peace negotiations to an end without a solution being reached, Reuters reported. Russia was ready to return to talks, while Ukraine has withdrawn from them, he said.
A spokesperson for Ukraine’s Foreign Ministry was not immediately available to comment when contacted by CNBC.
A peace summit is set to take place in June in Switzerland, which will be attended by Ukraine and a series of its allies. Russia has repeatedly said that it would not attend such a meeting.
Putin was speaking in Uzbekistan at the end of a multi-day state visit. Putin has met with Uzbekistan’s President Shavkat Mirziyoyev to discuss relations between the two countries. Russian state media agency Ria Novosti reported earlier that Putin and Mirziyoyev also talked about the war in Ukraine.
— Sophie Kiderlin
U.S. may implement further sanctions, export controls on Russia, White House says
The U.S. and its allies may use further sanctions and export controls to halt trade between Russia and China as the war in Ukraine continues, a White House official said Tuesday, according to Reuters.
Countries may take measures to increase the costs of Russia using a so-called “shadow fleet” to circumvent the G7 oil price cap, said Daleep Singh, White House deputy national security adviser for international economics.
The “shadow fleet” is made up of oil tankers that often have opaque ownership structures, frequently change their national flag registration and have very limited insurance. They aim to transport Russian oil in a way that circumvents restrictions, like the oil price cap, imposed on Russian oil by other countries.
Singh said sanctions language around financial retaliation could be expanded as Russia is moving toward putting its economy on a war footing.
— Sophie Kiderlin
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