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☆ UK-supplied drones have destroyed over $1.2 billion of Russian military gear in Ukraine, says UK official
▼ + stars: | 2024-05-23 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +2 min

Read previewUK drones given to Ukraine have been used to take out more than $1.2 billion worth of Russian military gear, according to the UK's defense secretary, citing Ukrainian figures. "Our Ukrainian partners conservatively estimate that UK drones have destroyed over £1 billion worth of Russian hardware," Grant Shapps told a delegation of Ukrainian ministers at a defense forum in London on Monday, per The Telegraph. Related storiesHe also mentioned one-way attack drones that are "making their mark," and drones that guide artillery and missiles toward Russian targets. In March, the UK's Ministry of Defence announced it would deliver an additional 10,000 drones to Ukraine, as part of its latest $413 million military aid package. In February, Ukraine announced it was setting up a separate branch of its military focused purely on drone warfare.

Persons: —, Grant Shapps, Shapps, DragonFire — Organizations: Service, Business, UK's Ministry of Defence, UK Ministry of Defence Locations: Ukraine, London, Russia, Crimea, Dnipro

☆ Ukraine bombs the port where Russia's Black Sea fleet moved to after Crimea got too risky for its warships, reports say
▼ + stars: | 2024-05-19 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

Ukrainian drones hit Novorossiysk port, causing a fire and power outages, reports say. The attack follows heightened defenses at the port after previous Ukrainian strikes on Crimea. Novorossiysk is vital for Russia's oil exports and naval operations in the Black Sea. AdvertisementThe Russian port of Novorossiysk, which has become an important base for the Black Sea Fleet after repeated attacks on its traditional base in Crimea, has been targeted by Ukrainian drones and missiles. This attacks follows previous reports by the UK Ministry of Defence indicating that Russia has been bolstering defenses at the Novorossiysk port to protect its Black Sea Fleet from potential Ukrainian attacks.

Persons: — Organizations: Service, Black, UK Ministry of Defence, Business Locations: Novorossiysk, Crimea, Russia

☆ A Russian drone unit is recruiting members of the Kremlin elite so they can 'sidestep' military service on the front, UK intel says
▼ + stars: | 2024-05-12 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +2 min

A military unit called "Bars Kaskad" is recruiting Russia's elite, the UK Ministry of Defence said. It likely allows recruits to "sidestep" usual service requirements "with guaranteed safety," said the MoD. AdvertisementA special Russian military unit is recruiting Russian elites, the UK Ministry of Defence (MoD) said in a post on X, formerly Twitter. The unit is primarily involved in unmanned aerial vehicle (UAV) operations far from the front lines in Ukraine, likely allowing Russian VIPs to "sidestep usual military service requirements with guaranteed safety," the MoD said. AdvertisementAlexei Blinovsky was pictured serving with Bars Kaskad on April 16, per the MoD.

Persons: —, SERGEI SUPINSKY, Ruslan Leviev, Russian, Yelena Blinovskaya, Alexei Blinovsky, Vladimir Putin's Organizations: UK Ministry of Defence, MoD, Service, Russian, Russian State Duma, Putin United Russia Party, Getty Images, Conflict Intelligence Team, Guardian Locations: Ukraine, Russian, AFP, Kaskad

☆ US commander appeared to suggest UK special forces were operating in Ukraine
▼ + stars: | 2024-05-12 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +1 min

A US commander appeared to suggest UK special forces were operating in Ukraine. Gen. Bryan Fenton told The AP that the US was "taking a lot of lessons" from UK special forces in Ukraine. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA US commander has appeared to suggest that UK special forces were operating in Ukraine. In an interview with The Associated Press, Gen. Bryan Fenton, the Commander of US Special Operations Command (USSOCOM), spoke about plans to restructure Green Beret teams based on lessons from British special forces in Ukraine.

Persons: Bryan Fenton, —, Fenton Organizations: AP, UK Ministry of Defence, Service, Associated Press, Operations Command, Green Beret, Air Force, Business Locations: Ukraine

☆ The UK could need an Israeli-style Iron Dome air defense system, says former US national security advisor
▼ + stars: | 2024-05-05 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +5 min

Read previewFormer US National Security Advisor General HR McMaster has said the UK must prepare for possible future conflicts by building an Israeli-style Iron Dome air defense system. Indeed, the UK is considering developing its own Iron Dome air defense system amid growing tensions with Russia and its allies. The Israeli modelMissiles launched from the Iron Dome defense system attempt to intercept a rocket fired from Gaza strip. Related storiesIsrael's short-range Iron Dome is a mobile all-weather air defense system that has been in service since 2011. Aside from internal discussions on an Iron Dome, the UK is in talks to join Europe's aerial defense system.

Persons: —, McMaster, Adm, Sir Tony Radakin, Michael Clarke, Clarke, MAHMUD HAMS, Rishi Sunak, Israel, Aleksey Zhuravlyov, Putin, Vladimir Solovyov, I've, T6GN35UGtG — Anton Gerashchenko Organizations: Service, US National Security, McMaster, LBC, Business, Britain's Armed Forces, Iron, Getty, UK, Newsweek, Design, Sky, UK Ministry of Defense, NATO Locations: United Kingdom, United States, Israel, Russia, Europe, China, Iran, North Korea, Gaza, AFP, London, Ukraine, British, Russian, Baltic

☆ Russian soldiers were convicted of over 100 murders when they returned home last year, a report says
▼ + stars: | 2024-05-05 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRussian military personnel were convicted of 116 murders in 2023, Mediazona, a local news website, reported. Advertisement"The high number of homicides by serving and veteran Russian soldiers are likely in part due to enduring war-related chronic poor mental health issues," it wrote. "It is a story about invisible violence," said Kirill Titaev, a Russian sociologist and criminology expert at Yale, told the Times. Last year, Russian President Vladimir Putin called the risk of pardoned convicts re-offending upon their release "inevitable," per the Times.

Persons: —, Olga Romanova, Storm Z, Wagner, ROMAN ROMOKHOV, Kirov, Viktor Savvinov, Kirill Titaev, Vladimir Putin, Putin Organizations: Service, UK Ministry of Defence, Judicial Department, Business, The New York Times, Wagner Group, Storm, Getty, New York Times, Yale, Times Locations: Mediazona, Ukraine, Russia, Russian, Rostov, AFP

☆ G7 agrees to shut down coal plants by 2035, UK minister says, in climate breakthrough
▼ + stars: | 2024-04-29 | by ( Angela Dewan | ) edition.cnn.com time to read: +3 min

CNN —Ministers from the Group of Seven nations have agreed to shut down all their coal plants by 2035 at the latest, a UK minister said on Monday, in a climate policy breakthrough that could influence other countries to do the same. Putting an end date on coal — the most climate-polluting fossil fuel — has been highly controversial at international climate talks. Many of the other G7 nations already have national plans in place to phase out the fossil fuel. “Coal might be the dirtiest, but all fossil fuels need to be ultimately phased out,” he said. Energy, environment and climate ministers are meeting in Turin for talks that are expected to end on Tuesday.

Persons: ” Andrew Bowie, ”, Dave Jones, “ Organizations: CNN, Japan, Department for Energy Security, CNBC, Turing, UK Ministry for Energy, US State Department, Energy, European Union Locations: Italy, COP28, Dubai, France, Canada, United States, Japan, Turin, Germany, United Kingdom, China, India, Saudi Arabia, Russia

☆ A UK destroyer scored the Royal Navy's first missile kill since the Gulf War, when one of its warships pulled off another historic first
▼ + stars: | 2024-04-25 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewA UK warship on Wednesday shot down a ballistic missile fired by the Houthis in Yemen, marking the Royal Navy's first such kill since the Gulf War more than 30 years ago. AdvertisementA view shows HMS Diamond in the Red Sea on Operation Prosperity Guardian, in this handout image taken on January 6, 2024. Related storiesDuring the Gulf War, the Type 42 destroyer HMS Gloucester used Sea Dart missiles to destroy an Iraqi silkworm anti-ship missile that was targeting an American warship. That engagement marked the first time anti-air missiles successfully destroyed an enemy missile threat during a battle at sea. The HMS Diamond, a UK warship, responds to a Houthi attack on Jan. 9, 2023.

Persons: —, CENTCOM, Diamond, Chris Sellars, Handout, Grant Shapps Organizations: Service, Royal, Viper, Business, US Central Command, Prosperity, REUTERS, The Times, Royal Navy, UK Ministry of Defense, US Navy Locations: Yemen, Gulf, Aden, Gloucester, Iraqi, American, Gulf of Aden

☆ Russia recruiting female convicts into the military report says, as the role of women in the Ukraine war expands
▼ + stars: | 2024-04-20 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

Read previewRussia is recruiting female convicts to bolster its war effort in Ukraine, the Kyiv Post reported, citing a Ukrainian intelligence spokesperson. The role of women in the war has expanded rapidly since Russia's full-scale invasion of Ukraine in 2022. The practice of offering convicts freedom in exchange for military service in Ukraine began under Yevgeny Prigozhin, the late founder of the mercenary Wagner Group. Business Insider contacted the Russian Ministry of Defense for comment. Elena Tita/Global Images Ukraine via Getty ImagesUkrainian women have been joining the military in significant numbers since Russia's full-scale invasion in 2022.

Persons: —, Andriy Yusov, Yusov, Yevgeny Prigozhin, Wagner, Vladimir Osechkin, Dmitry Peskov, Vladimir Putin, Elena Tita Organizations: Service, Kyiv Post, Kyiv, Business, Newsweek, UK Ministry of Defence, Russian Ministry of Defense, Getty Images, Ukraine's Ministry of Defense, BBC, CNBC Locations: Russia, Ukraine, Kyiv, Ukrainian, Russian, Zaporizhzhia Oblast

☆ Some of Russia's 'prestigious' guided missiles may be malfunctioning and falling short of their targets: UK intelligence
▼ + stars: | 2024-04-10 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +1 min

Some Russian missiles may be malfunctioning and missing their targets, per British intelligence. "Issues in its production" could lead to rushed production jobs, the UK MOD says. AdvertisementPremium Russian cruise missiles might be malfunctioning and missing their targets, according to new intelligence from the UK Ministry of Defence. The UK MOD said on Tuesday that it analyzed open-source images taken on March 31, 2024, which showed missile wreckage in a field in Saratov Oblast, southern Russia. The UK MOD said the debris was initially considered remnants of a "possible Ukrainian uncrewed aerial vehicle."

Persons: — Organizations: Russian, MOD, Service, UK Ministry of Defence Locations: Saratov Oblast, Russia, Russian

☆ Ukraine targets more Russian oil refineries a day after reports said the US had warned them not to
▼ + stars: | 2024-03-23 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +4 min

Read previewUkraine attacked Russia's oil infrastructure after US officials advised them against targeting Russian oil refineries, Bloomberg reports. Russia's oil infrastructure took another hit as drones targeted refineries in the Samara region. The targeted refineries, both part of Rosneft PJSC's Samara region group, play a crucial role in Russia's oil production landscape. The strikes have targeted refineries, storage depots, and other key sites, exacerbating economic pain and raising fears of further escalation. Indeed, the refineries targeted in the Samara oblast last night are over 800 miles from Kyiv.

Persons: —, Dmitry Azarov, … Organizations: Service, Bloomberg, Business, US, Financial Times Locations: Ukraine, Samara, Russia, Rosneft, Russian

☆ Ukrainian soldiers are attacking trenches led by drones, military trainer says
▼ + stars: | 2024-03-06 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Ukrainian soldiers are using drones to lead them through trenches, an Australian military trainer said. AdvertisementUkrainian soldiers are advancing through trenches drone-first and in smaller groups to avoid Russian booby traps, an Australian training Ukrainian troops told Business Insider. He was speaking to BI at a training site for Ukrainian soldiers in the south of England. Both sides have dug trenches, with soldiers hiding in, launching attacks from, and fighting each other in the miles of deep lines. He said this allows them to give Ukrainian soldiers "more accurate training," but that in some areas "what we actually found is that we were learning more off them."

Persons: —, Davidson Organizations: Service, Business, UK Ministry of Defence, Russia Locations: Australian, Ukraine, England, Russia

☆ Kate, Princess of Wales: Chaos and confusion after British Army appearance claim
▼ + stars: | 2024-03-06 | by ( Lauren Said-Moorhouse | Max Foster | ) edition.cnn.com time to read: +4 min

London CNN —Speculation over when Catherine, Princess of Wales will return to official royal duties continues this week after expectations were raised by an unlikely source: the British Army. Tickets were advertised to the public with appearances from both 42-year-old Kate and King Charles III on June 8 and 15, respectively. Aaron Chown/AFP/Getty ImagesThe palace, which handles the princess’ diary, had not yet confirmed if she would be reviewing the Irish Guards. CNN decided not to publish the paparazzi shot when it began to circulate on social media on Monday. The existence of the photograph did, however, quash some of the wilder rumors and conspiracy theories circulating recently on social media about the princess’ health and whereabouts.

Persons: Catherine , Princess, Wales, Kate, King Charles III, ’, Charles III, Jeremy Hunt, Aaron Chown, Charles, “, Carole Middleton, wilder, it’s Organizations: CNN’s Royal, London CNN, British Army, UK Ministry of Defence, Horse Guards, Army, Kensington Palace, Getty, Irish Guards, CNN Locations: London, Buckingham Palace, Kensington, Buckingham, AFP, Windsor

☆ Russian soldiers targeted while riding on top of armored vehicles is now a 'daily occurrence,' pushing up its death toll, US soldier says
▼ + stars: | 2024-03-04 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Video shows a Russian armored vehicle with soldiers riding on top being attacked. A US veteran fighting in Ukraine said it was "a daily occurrence" that had killed many Russians. AdvertisementFootage showing Russian soldiers being targeted while they are riding on top of an armored vehicle highlights a "daily occurrence" that has driven Russia's death rate way up, according to a US veteran serving in Ukraine. It shows about a dozen Russian soldiers riding on top of a fast-moving armored vehicle that has smoke pouring out from it. It also said that Russia's daily casualties in February were the highest since the invasion began, at an average of 983 a day.

Persons: —, Bradley IFV, FPVfUtnZ5k, 🐈🇺 Organizations: Service, Ukraine's Strike Drones Company, Ukraine's 47th Mechanized Brigade, Brigade Locations: Russian, Ukraine, Ukraine's, Kherson

☆ Russia averaged nearly 1,000 casualties per day in February, marking a new record, UK intel says
▼ + stars: | 2024-03-03 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +1 min

Russia averaged nearly 1,000 casualties per day in February in Ukraine, the UK Ministry of Defence said. The high rate likely reflects "Russia's commitment to mass and attritional warfare," the MoD said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussian forces suffered an average of 983 casualties per day in Ukraine in February, the highest since the war began, the UK Ministry of Defence (MoD) said in an intelligence update on Sunday. The UK department said the increase in casualties, which included both killed and wounded soldiers, was likely due to "Russia's commitment to mass and attritional warfare."

Persons: — Organizations: UK Ministry of Defence, MoD, Service, Business Locations: Russia, Ukraine

☆ Russia has likely grounded its early warning aircraft fleet from flying Ukraine operations because of unsustainable losses, says UK intel
▼ + stars: | 2024-03-02 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Read previewRussia has likely grounded its fleet of A-50 early warning and control aircraft after Ukraine shot down a second one in two months, the UK Ministry of Defense said in an intelligence update on Saturday. The fleet is likely to remain grounded while internal investigations take place into why the losses happened and how Russia can better combat Ukrainian air defenses, the UK department said. The A-50 is an airborne radar system that detects enemy aircraft, missiles, and air defense systems. They also provide daily command and control to Russian air operations and identify ground targets. However, the recent losses had forced the Russian jets dropping glide bombs to fly further away to protect themselves, making their bombs less accurate.

Persons: —, Justin Bronk, Yurii Ihnat Organizations: Service, UK Ministry of Defense, Business, Royal United Services Institute, BBC, MoD, RBC Locations: Russia, Ukraine, Russian, Belarus

☆ The UK military is putting a new focus on trench warfare after seeing what's happening in Ukraine
▼ + stars: | 2024-02-27 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

The UK is putting new focus on preparing its troops for trench warfare. Trench warfare may have been somewhat "consigned to history," one said — but no longer. AdvertisementThe UK military is putting a renewed focus on preparing for trench warfare after observing the fight between Russia and Ukraine. Russia's invasion of Ukraine has brought trench warfare back to Europe, with both sides digging vast networks of fortifications. Other NATO members are also training troops on trench warfare, citing its resurgence in the war in Ukraine.

Persons: —, Wilson, Kostya, Davidson, Operation Interflex Organizations: Service, Business, Ministry of Defence, NATO Locations: Ukraine, Russia, Russia's, Europe, England, Col, Germany, Ukraine —, Britain, Iraq, Afghanistan, Ukrainian, Bakhmut, British

☆ UK nuclear missile test fails for second time in eight years
▼ + stars: | 2024-02-21 | by ( Lauren Kent | ) edition.cnn.com time to read: +3 min

London CNN —A British nuclear missile test launch failed at a site off the coast of Florida, marking the second time in eight years that the country’s Trident 2 ballistic missiles have malfunctioned during trials. The fault was specific to the test kit and that the launch would have likely been successful if it had occurred out on a patrol, using a real nuclear warhead, according to the source. “The UK’s nuclear deterrent remains safe, secure and effective,” The Ministry of Defense spokesperson added. “The test has reaffirmed the effectiveness of the UK’s nuclear deterrent, in which we have absolute confidence.”A Trident II missile is launched by the US navy during a test in 1989. Phil Sandlin/AP/FileShapps is expected to present a written ministerial statement on Britain’s nuclear deterrent to Parliament on Wednesday, according to the House of Commons order paper.

Persons: London CNN —, of Defense Grant Shapps, Sir Ben Key, Phil Sandlin, ”, John Healey Organizations: London CNN, HMS Vanguard, Ministry of Defense, Trident, CNN, The Sun, of Defense, “, Vanguard, US, Labour Party, Royal Navy Locations: British, Florida, United States, Georgia

☆ Counting the 'colossal' cost of capturing Avdiivka: Russia could have suffered 30,000 casualties and lost over 400 tanks, IFVs
▼ + stars: | 2024-02-18 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +4 min

At least 30,000 Russian soldiers had been killed or wounded, say Ukraine. AdvertisementRussia suffered huge losses in the battle for the strategic town of Avdiivka before ultimately capturing it. Russia lost more than 400 tanks and armored vehicles and "likely thousands of personnel," per the UK Ministry of Defense. He also said that at least 30,000 Russian soldiers had been injured in the battle, per The Telegraph. AdvertisementThere are no figures on the losses Ukraine has suffered in the bloody battle, though they to could also be significant.

Persons: Avdiivka, —, Oleksandr Syrskyi, Wes, Tim, bec Organizations: Service, Armed Forces of, Facebook, Russia, UK Ministry of Defense, Latest Defence, Ukraine –, Defence, kr Locations: Russia, Ukraine, Ukrainian, Avdiivka, Donbas, Armed Forces of Ukraine

☆ Inside a deployed US Navy carrier strike group's tactical shift to kill Houthi missiles and drones before they ever take flight
▼ + stars: | 2024-02-15 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

The US Navy spent months shooting down Houthi drones and missiles in the air. Business Insider visited US Navy warships in the Red Sea this week and learned more about this tactical shift. AdvertisementThe US Navy spent months tirelessly shooting down Houthi threats in the air, but it never struck the Iran-backed rebels in Yemen directly. The shift in tactics toward an emphasis on preemptive action began in mid-January and has seen the US destroy a large amount of Houthi drones and missiles, including anti-ship cruise and ballistic missiles. Beyond taking out airborne drones, the Navy is using intelligence to identify them in Yemen before they are launched and strike them there.

Persons: —, Dwight D, Ike, Eisenhower, Jake Epstein, Marc Miguez, Miguez, they're, Capt, Marvin Scott, Jonathan Word, Scott Organizations: US Navy, Business, Service, Eisenhower Carrier Strike, Business Insider, Pentagon, US Central Command, Fighter, Carrier Strike, Navy, Screengrab, Ministry of Defense, British, US Locations: Iran, Yemen, Gulf of Aden, Red

☆ Russia can keep bleeding tanks and other equipment like it has been in Ukraine for at least another 2 to 3 more years, war analysts say
▼ + stars: | 2024-02-13 | by ( Ella Sherman | ) www.businessinsider.com time to read: +3 min

This story is available exclusively to Business Insider subscribers. The new report said that Russia is capable of efficiently replacing its losses through production and its storage and reserve capacity. "Equipment replenishments were roughly keeping pace with battlefield attrition," IISS said, pointing to conclusions that it arrived at in an assessment last year. AdvertisementThe UK Ministry of Defense reported that Russia was capable of producing 100 new tanks a month, but experts recently told Business Insider that the new tanks being manufactured were likely older models. The country has been replenishing equipment losses, as well as manpower losses, but in this war, it has at times resorted to using older armored vehicles, such as T-62s and even T-55s.

Persons: —, IISS Organizations: Service, International Institute for Strategic Studies, Business, Ministry of Defense Locations: Russia, Ukraine, London, Avdiivka

☆ The UK sent a new warship to the Red Sea to take over from a vessel that's been attacked three times by Houthi rebels
▼ + stars: | 2024-02-07 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

The UK has sent a warship to the Red Sea to replace another vessel, per the Ministry of Defence. HMS Richmond will take command of the UK's mission in the region, supporting US operations, it added. AdvertisementThe UK Ministry of Defence said that one of its warships was being replaced in the Red Sea after it suffered three separate attacks by Houthi rebels. The HMS Richmond will replace the HMS Diamond in the waters, the ministry announced in a press statement on Tuesday. AdvertisementMeanwhile, HMS Richmond will assume command of the UK's operation in the Red Sea.

Persons: Houthi, HMS, —, HMS Diamond, Peter Evans, Grant Shapps, Brian Raymond, Yahya Saree Organizations: Ministry of Defence, MOD, Service, HMS, Operation Prosperity Guardian, Royal Marines, Wildcat, Pentagon, Prosperity Guardian, US Navy SEAL, US Locations: Red, HMS Richmond, Iran, Iranian, Richmond, Gaza

☆ Russia may be replacing 100 tanks a month — but with older models which 'smacks of absolute desperation,' expert says
▼ + stars: | 2024-02-07 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +5 min

Russia is generating 100+ tanks a month, largely replacing its battlefield losses, UK intel said. Nicholas Drummond, a defense analyst, agreed, telling BI that Russia is relying on older models as its ability to produce new ones is limited. AdvertisementBut Drummond is skeptical that Russia can even make battle-ready 100 of the older tanks a month. Ramping up productionRussia has seemingly been increasing its output of new tanks, while still relying on older models. AdvertisementBut another expert said these older tanks can still create a problem for Ukraine.

Persons: —, William Alberque, Nicholas Drummond, DIMITAR DILKOFF, Drummond, George Barros, Russia's, Oleksii, It's, Alberque, Rajan Menon, Menon, it's Organizations: intel, Service, UK Ministry of Defence, International Institute for Strategic Studies, Getty, Institute for, Anadolu Agency, Getty Images, Defense Locations: Russia, Ukraine, Russian, AFP, Dmytrivka, Kyiv region, Getty Images Russia, Ukrainian

☆ Russia may have to raise taxes to meet the spiraling cost of invading Ukraine: UK intel
▼ + stars: | 2024-02-05 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

The Kremlin has plans to hike Russia's spending by 26% in 2024, per the UK's Ministry of Defence. Russia's National Wealth Fund is "increasingly being used to fund its invasion of Ukraine," it said. AdvertisementThe Kremlin will likely need to impose austerity measures to resolve Russia's budget deficit amid the growing cost of its invasion of Ukraine, according to UK intelligence. Advertisement"It is likely that the government will need to reduce its contributions to the National Wealth Fund and increase domestic taxes and debt to fund its planned expenditure," the UK MOD said. Such policies will have negative medium-to-long-term impacts, the UK MOD said on Monday.

Persons: —, Alexandra Prokopenko, who's Organizations: Ministry of Defence, MOD, Wealth, Service, UK Ministry of Defence, National Wealth Fund, Carnegie Russia Eurasia Center, Center of Eastern European, International Studies, Foreign, Reuters, Bloomberg, International Monetary Fund, IMF Locations: Ukraine, Russia, Soviet Union, Russian

☆ Russia accidentally bombed itself again, the fourth time this month, UK intel says
▼ + stars: | 2024-01-30 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA Russian plane accidentally dropped two bombs on Russian territory, according to UK intelligence, marking the fourth time it's happened this month. The UK Ministry of Defence highlighted the incidents in an intelligence update on Tuesday, citing a report by the independent Telegram news channel Astra. According to the report, a Russian aircraft discharged two FAB-250 bombs in the Belgorod region last Saturday. AdvertisementThis is the fourth such incident this month and the fifth over the last 12 months, the MOD said.

Persons: —, Russian warplane, Leonid Pasechnik Organizations: Service, Business, UK Ministry of Defence, Telegram, Astra, FAB, MOD Locations: Russian, Belgorod, Postnikov, Streletskaya, Petropavlovka, Russia's Voronezh Oblast, Luhansk People's Republic, Rubizhne, Russia, Luhansk

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