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☆ Ukrainian forces in Kursk are readying for a long fight and may plan to 'bleed' the Russians just like in Ukraine, expert says
▼ + stars: | 2024-09-07 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +6 min

That figure is more than the amount of territory Russia has seized in Ukraine so far this year. AdvertisementThat's a rate of more than 1,100 casualties a day, and there are indications Russian forces are continuing to take heavy losses. A pair of Ukrainian soldiers walk in the Ukrainian-controlled city of Sudzha in Russia's Kursk region. But he said there's also a danger that Ukraine's forces could get overextended and "get too widely spaced that the Russians can take advantage of it." Furthermore, this unexpected invasion of Russian territory has allowed Ukraine to regain the initiative after months in a grueling defensive position.

Persons: —, Volodymyr Zelenskyy, Fabien Nachi, Matthew Savill, David Cohen, Michael Bohnert, Savill, Ed Ram, Mark Cancian, there's, Cancian, Vladimir Putin Organizations: Service, Business, NBC, Getty, Royal United Services Institute, UK Ministry of Defence, Russia, Ukraine, CIA, RAND Corporation, Washington, Marine, Center for Strategic, International Studies Locations: Russia's Kursk, Russia, Ukraine, Kursk, Sudzha, Ukrainian

☆ Hedge fund turned to a wargame to plan for a Chinese invasion of Taiwan
▼ + stars: | 2024-09-07 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

Related storiesIn the second phase of the game, soon after the Chinese invasion began, US forces were said to have engaged and stopped the Chinese amphibious assault, though China continued to bombard Taiwan. Daniel Ceng/Anadolu via Getty ImagesThis caught the hedge fund players by surprise: they had assumed EU sanctions were unlikely because of the depth of China-Europe trade, which reached $815 billion annually in 2023. The hedge fund "agreed that any room for avoiding a total divestment from China and the South China Sea was now completely lost, and market re-entry was probably many years away." The hedge fund responded by choosing to invest heavily in semiconductors manufactured in regions not affected by the war. "This would provide potential opportunities for new players to emerge in the Global South, particularly if loans can be collateralized," Knightsbridge noted.

Persons: Finley Grimble, liquidating, KSG, Daniel Ceng, Knightsbridge, Grimble, Michael Peck Organizations: Service, Business, Knightsbridge Strategic, Getty, Treasury, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: British, China, Taiwan, South China, Europe, South America, Japan, South Korea, Australia, Anadolu, South, Ukraine, Africa, East, Southeast Asia, Zimbabwe, Forbes

☆ Europe's economy survived 'terrible prophecies' but must now tackle trade with China: EU's Gentiloni
▼ + stars: | 2024-09-07 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

The European Union has successfully avoided the "terrible prophecies" that threatened its economy in recent years, but must still contend with Russia's war in Ukraine and a tenuous trade relationship with China, outgoing European Commissioner for Economy Paolo Gentiloni said Saturday. A former prime minister of Italy, Gentiloni has served as the European Commissioner for Economy under EC President Ursula von der Leyen since December 2019. Gentiloni will not be returning for a second term as commissioner following Von der Leyen's tumultuous re-election as president — but he has laid out the economic picture that awaits his imminent successor. "The economy is growing, slowly, but growing. And the risks of differences among the European Union, that was very high when the pandemic happened, are very limited," he noted.

Persons: Paolo Gentiloni, Gentiloni, Steve Sedgwick, Ursula von der Leyen, Von der, —, Russia's Organizations: European Union, Economy, European, European Central Bank, Moscow, European Commission Locations: Ukraine, China, Europe, Cernobbio, Italy's, Como, Italy

☆ The death of an F-16 pilot running missile defense shows how dangerous even the lower-risk missions are in Ukraine
▼ + stars: | 2024-09-07 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Ukrainian F-16s are seen in the air in an undisclosed location in Ukraine. AdvertisementDays later, Ukraine acknowledged one of its F-16s crashed, killing its pilot, while battling Russian missiles during the attack. Related storiesHundreds attend a farewell ceremony for Ukrainian F-16 pilot Oleksiy Mest in Shepetivka on August 29, 2024. These include both Western and Soviet-era ground-based air-defense systems and fighter aircraft like the F-16. A Ukrainian Air Force F-16 flies in an undisclosed location in Ukraine, which waited years for the American-made fighter jets.

Persons: —, Vincent Aiello, Oleksandr Syrskyi, Oleksiy, Mike Torrealday, Torrealday, it's, they're, " Aiello, You've Organizations: Service, Ukraine, NATO, Business, REUTERS, Ukraine's, Libkos, US Air Force, Ukrainian Air Force, AP Locations: Ukraine, Kyiv, Russia, Russian, Ukrainian, Shepetivka

☆ Russia killed 49 people in Ukraine in one of the deadliest single strikes of the war
▼ + stars: | 2024-09-03 | by ( Kieran Corcoran | Thibault Spirlet | ) www.businessinsider.com time to read: +1 min

49 people are dead after an airstrike on Poltava, Ukraine, its governor said. The death toll is much larger than in most individual Russian airstrikes on Ukraine. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia killed at least 49 people and injured 219 in an airstrike on the city of Poltava in Ukraine, its governor said in an update on Tuesday.

Persons: —, Zelenskyy Organizations: Service, Business Locations: Poltava, Ukraine, Russian, Russia

☆ Defense stocks in an ESG portfolio? A profound — and controversial — shift seems to be underway
▼ + stars: | 2024-09-02 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Jessica Gow | Afp | Getty ImagesRussia's ongoing war in Ukraine has resulted in a profound shift in the way defense stocks are viewed by mission-driven fund managers, according to two European defense giants. Defense stocks have typically been excluded from portfolios based on environmental, social and governance (ESG) factors due to ethical concerns over their association with warfare. Nonetheless, the inclusion of defense stocks in sustainably-minded portfolios remains controversial. It's really important that we see the role that defense companies play in protecting a free society. It's really important that we see the role that defense companies play in protecting a free society," he said.

Persons: Micael Johansson, Jessica Gow, Johansson, CNBC's Silvia Amaro, It's, Brad Greve, BAE Systems Johansson, hasn't, Ida Kassa Johannesen, Johannesen, Justin Tallis, Saab's Johansson, ESG, John Keeble, Greve Organizations: Saab, Afp, Getty, BAE Systems, Ukraine —, Saxo Bank, CNBC, Democratic, U.S, Republican, Democrats, Malloy Aeronautics, British Aerospace BAE Systems, Farnborough, Exhibition, Conference Centre Locations: Stockholm, Ukraine, Africa, Democratic Republic, Congo, Palestine, London, Farnborough, England

☆ Putin appointed his former bodyguard to take over Russia's military response to the Kursk invasion, local lawmaker says
▼ + stars: | 2024-08-14 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

Kursk State Duma deputy Nikolai Ivanov told Russian broadcaster RTVI on Tuesday that Putin had met personally with Alexei Dyumin, who was made secretary of the State Council in May. Ivanov said Putin told Dyumin to supervise military operations in Kursk, with the primary goal of ousting Ukrainian forces that invaded the Russian border region last week. Dyumin, seated second from Putin's right, attended a leading of Russia's top brass about the Kursk invasion. Related storiesWhen the now-deceased head of the Wagner Group, Yevgeny Prigozhin, staged a rebellion against Putin, Dyumin was rumored to have been instrumental in orchestrating negotiations. wrote state media military correspondent Alexander Sladkov on Tuesday.

Persons: —, Vladimir Putin, Nikolai Ivanov, Putin, Alexei Dyumin, Aleksey Gennadyevich Dyumin, Ivanov, RTVI, Dyumin, Valery Gerasimov, Alexander Bortnikov, Yevgeny Prigozhin, It's, Rybar, Alexander Sladkov Organizations: Service, Duma, RTVI, State Council, Business, Ukrainian, Bloomberg, Federal Security Services, Russian Presidential, Putin, Wagner Group Locations: Kursk, Russian, Crimea, Tula, Washington, Ukraine, Kyiv

☆ Ukraine's attack took perfect advantage of Russia's internal dysfunction, where nobody was in charge
▼ + stars: | 2024-08-14 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +1 min

Russia's convoluted military structures likely hindered its ability to defend Kursk, experts say. Ukraine "knew where to press" to exploit its dysfunction, defense expert Dara Massicot wrote. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUkraine exploited the disorganization of Russia's border defenses to make its surprise attack on Kursk, according to expert analyses.

Persons: Dara Massicot, — Organizations: Service, Business Locations: Ukraine, Kursk

☆ Ukraine said it shot down a $36 million Su-34 bomber jet inside Russia
▼ + stars: | 2024-08-14 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +1 min

Ukraine downed a Russian Su-34 fighter jet over Kursk amid an ongoing territorial push. The Su-34, worth around $36 million, is Russia's most efficient fighter bomber with advanced tech. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Business Insider could not independently verify the video. This story is available exclusively to Business Insider subscribers.

Persons: Su, — Organizations: Service, Defense, Staff, Newsweek, Business Locations: Ukraine, Russian, Kursk

☆ Western sanctions are so tight that Russia and China could soon use an ancient trading system. It's worked before.
▼ + stars: | 2024-08-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewRussia and China are planning to revive the age-old practice of barter trade to get around Western sanctions, Reuters reported on Thursday. Since barter trade doesn't require monetary payments, it would allow Russia and China to skirt such issues. Russia has used barter trade beforeIt would not be Russia's first time using barter trade. Problems with barter tradeEven so, barter trade isn't widely practiced in modern society. Russian authorities are working on other ways to skirt Western payment sanctions.

Persons: —, Alexandra Prokopenko Organizations: Service, Reuters, Business, Russia, Kommersant, United Arab, RIA Novosti, Carnegie Russia Eurasia Center Locations: Russia, China, Russian, Ukraine, United Arab Emirates, Turkey, Austria, Afghanistan, Iran, Pakistan, India

☆ Russia left 'mainly kids' and conscripts to defend its borders, Ukrainian soldier says after surprise attack
▼ + stars: | 2024-08-13 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +1 min

Ukrainian soldiers broke through the Russian border last week in a surprise attack. A Ukrainian soldier told The Wall Street Journal that Russian troops in the area were inexperienced. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The deputy commander of a squad involved in the offensive told The Wall Street Journal that they had anticipated more resistance from Russian troops.

Persons: — Organizations: Russian, Wall Street Journal, Service, Business Locations: Russian, Ukrainian, Kursk, Russia, Ukraine, Russia's Kursk

☆ Ukraine is extending its record of flipping the script on Russia through innovation and audacity
▼ + stars: | 2024-08-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

Read previewFor months, Ukraine had been on the back foot in its war against Russia, with the Kremlin's forces slowly winning control of new territory. But last week, Ukraine turned the dynamic of the war on its head, launching an audacious incursion into Russia's Kursk province. However, the training provided by Ukraine's Western allies gave Ukraine the capacity to surprise and outmaneuver Russia. It's unclear exactly how Ukraine managed to take Russia by surprise with its Kursk attack. Military experts said that Ukraine had also exploited the sluggishness and rigidity of Russian military commanders, who scrambled to devise an effective response to the attack.

Persons: —, Vladimir Putin, It's, Russia's, Jacob Parakilas, they've, it's Organizations: Service, Russia, Kremlin, Business, Black, Rand Corp, Soviet, Economist, Forbes, New York Times, Military Locations: Ukraine, Russia's Kursk, Russia, Russian, Ukrainian, Soviet, Donbas, Crimea, Kyiv, Kursk

☆ Ukraine exposed Russia's sluggish military command with its Kursk invasion, analysts say
▼ + stars: | 2024-08-12 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Read previewRussian military commanders are facing criticism over their botched response to Ukraine's audacious incursion into Russia's Kursk region. In a Telegram post on Friday, Russian military expert Vladislav Shurygin said that Ukraine had exposed serious problems with Russia's command. The Russian military has made slow but incremental progress in its campaign in the Donetsk region of east Ukraine recently, tempering criticism. Ukraine's Kursk incursion, though, has renewed questions about the effectiveness of Russia's military command, which, according to a March Congressional report, is often excessively rigid and slow to react to developments. AdvertisementThe Russian military is still attempting to drive back the Ukrainian invasion, with reports of fighting in the towns of Tolpino and Obshchy Kolodez.

Persons: —, Vladimir Putin, Vladislav Shurygin, Sergei Markov, Markov, Putin, Rainer Saks, Ukraine's Organizations: Service, Business, Kremlin, CNN, Washington Post Locations: Russia's Kursk, Ukraine, Kursk, Russian, Russia, US, Estonian, Donetsk, Ukraine's Kursk, Tolpino

☆ Ukraine is striking targets hundreds of miles inside Russia for 3 key reasons, experts say
▼ + stars: | 2024-08-10 | by ( Cameron Manley | ) www.businessinsider.com time to read: +5 min

While the news grabbed headlines, it was not the first time that Ukraine has reportedly targeted sites deep within Russia. AdvertisementUkraine does not currently have permission to use long-range guided weapons such as the ATACMS to hit such targets inside Russia. While striking targets so far from the frontline may be seen as Ukraine spreading itself rather thinly, such attacks have three key benefits, experts told BI. "Russia has already adapted its air defense posture following previous drone strikes and reportedly has stood up mobile counter-UAS [unmanned aircraft system] teams. Russia's S-400 is one of its most advanced air defense systems.

Persons: —, Mark Cancian, Cancian, Justin Bronk, Moscow's pocketbook, John Hardie, Hardie, hasn't, Bronk Organizations: Service, Business, Ukraine's Security Service, International Security, Centre, Strategic, International Studies, Stringer, Anadolu Agency, Getty, Ukraine, Royal United Services Institute, Russia, Foundation for Defense of Democracies, Bloomberg, Reuters Locations: Ukraine, Russian, Murmansk, Russia, Astrakhan, Bashkortostan, Moscow

☆ I was part of Russia's prisoner swap with the US. Here's how it feels to finally, suddenly be free.
▼ + stars: | 2024-08-06 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +6 min

She was released last week as part of the prisoner swap between the US, Russia, and other countries. On Thursday, an FSB officer told us we were going to be freed as part of a prisoner swap — the miracle we had been waiting and hoping for. On the morning of the exchange, as we were being moved around, I didn't know the prisoner swap was happening. Russian artist Aleksandra Skochilenko, also known as Sasha, left, with her girlfriend, Sonia Subbotina, right, after the prisoner swap. They all knew that the only thing I wanted to do was walk, walk, walk.

Persons: —, Aleksandra, Sasha, Skochilenko, I'd, Sonia, Aleksandra Skochilenko, Sonia Subbotina, hadn't, I'm, Sonia Skochilenko Organizations: Service, Business Locations: Russian, Russia, Ankara, Turkey, Istanbul, Frankfurt, Germany

☆ Russia has a history of going after dissidents. One senior Kremlin official has now warned freed prisoners to 'disguise themselves.'
▼ + stars: | 2024-08-04 | by ( Cameron Manley | ) www.businessinsider.com time to read: +1 min

Dmitry Medvedev warned freed Russian dissidents to watch their backs after the recent prisoner exchange. Russia has a history of targeting dissidents and defectors. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussian opposition figures and dissidents freed in Thursday's mass prisoner exchange should "adopt new names" and "disguise themselves," a senior Russian politician has said.

Persons: Dmitry Medvedev, Vladimir Kara, Murza, Ilya Yashin, — Organizations: West, Service, Russia's Security, Fatherland, Business Locations: Russia, Russian

☆ Ukraine pushed Russia's Black Sea Fleet out of Crimea but retaking the peninsula will be incredibly hard
▼ + stars: | 2024-08-03 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +10 min

Read previewUkraine has dealt a massive blow to Russia's Black Sea Fleet in Crimea. Russia has retained control of Crimea since invading and annexing the peninsula in 2014 and secured Sevastopol as the headquarters for its Black Sea Fleet. Related stories"Without an amphibious naval force to land in Crimea, how can Ukraine project enough troops onto the peninsula to claim its control?" Ukraine has resorted to hitting Russia's air defenses in Crimea with missiles and long-range weapons, including US-supplied Army Tactical Missile Systems, known as ATACMS. "Even with F-16s, I don't think Ukraine has the ability to provide its ground forces effective close air support, given Russian air defense capability," he told BI.

Persons: —, steeled, Mark Cancian, who's, Basil Germond, Ulf Mauder, Cancian, Mark Temnycky, Ukraine's, Mikhail Razvozhaev, Temnycky, Benjamin Friedman, VIKTOR KOROTAYEV, Sergej Sumlenny, Sumlenny, Operation Barbarossa, Friedman Organizations: Service, Business, US Marine, Center for Strategic, International Studies, Lancaster University, Getty, Council's Eurasia Center, Ukraine, Army Tactical Missile Systems, The Institute, Defense, Resilience Initiative, Soviet Union's Red Army, Russians, Red Army, Soviet Union —, Soviet Union Locations: Ukraine, Crimea, Russia, Sevastopol, Russian, Kerch, Feodosia, Novorossiysk, Kherson, Ukrainian, Pereko, Suvorikin, Soviet, Soviet Union, Operation, Soviet Ukraine, Pereko —

☆ Ukraine has been flying shockingly deep inside Russia because Russian air defenses are so degraded, expert says
▼ + stars: | 2024-08-02 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Read previewUkraine has been able to strike unusually deep inside Russia because Russian air defenses have been stretched, a warfare expert told Business Insider. "Russian air defenses should have very easily taken them out." Many of Russia's air defense systems have been damaged and destroyed by Ukraine, and Ukraine is now targeting some defenses that it could not previously reach. Ukraine destroyed many Russian air defense systems, particularly in Crimea, the Ukrainian peninsula that Russia annexed in 2014. Many warfare experts have said that this war has largely become an air defense war, making both countries desperate to keep their arsenals strong.

Persons: —, George Barros, We've, Barros, ISW Organizations: Service, Business, Ukraine Locations: Ukraine, Russia, Russian, Ukrainian, Tatarstan, Crimea

☆ Why Ukraine May Not Use New F-16s in Frontline Attacks
▼ + stars: | 2024-08-01 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

Officials later confirmed to the Associated Press that some F-16s were indeed in Ukraine. AdvertisementThis means Ukraine may not use its F-16s for the frontline offensives it would prefer, according to military experts and Ukraine's top general. Peter Layton, a fellow at the Griffith Asia Institute who served in Australia's air force, said Ukraine would have to be cautious. He said its small number of aircraft and few pilots would mean Ukraine has to prioritize avoiding losses, so it can fly the F-16s as long as possible. Ukraine also faces challenges when it comes to logistics around the F-16s.

Persons: —, Netherlands —, Peter Layton, Justin Bronk, Gen, Oleksandr Syrskyi, Marina Miron, Volodymyr Zelenskyy Organizations: Service, Bloomberg, Associated Press, NATO, Business, Times, Griffith Asia Institute, Russian, Royal United Services Institute, Guardian, War Studies Department, King's College London, Department of Defense, Politico, Washington Post, Reagan Locations: Ukraine, — Belgium, Denmark, Norway, Netherlands, London, Russia, Col, Ukrainian

☆ 'Pulsating' mechanized assaults in Ukraine may reflect the limit of Russia's offensive abilities, war analysts say
▼ + stars: | 2024-07-31 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Conflict analysts say these armored assaults are constrained to specific areas and may reflect the limits of Moscow's offensive power and inability to execute a large-scale, multi-directional offensive operation. AdvertisementThese "periodic and pulsating Russian mechanized assaults likely represent the extent of Russia's current offensive capacity, and Russia is unlikely to mount a distinct new summer offensive operation due to material and manpower constraints," the analysts wrote in an assessment on Wednesday. Photo by Diego Herrera Carcedo/Anadolu via Getty ImagesThe analysts said Russia has struggled throughout the war to stage multiple large-scale offensive operations simultaneously. In late June, ISW noted that "Russian forces continue to prioritize gradual advances through consistent grinding assaults over operationally significant gains through rapid maneuver." The analysts said that Russia aims to "win a war of attrition against Ukrainian forces," exhausting its manpower and materiel.

Persons: —, Diego Herrera Carcedo, John Kirby, Ukraine —, Russia's, Kirby, Vladimir Putin's, ISW Organizations: Service, Business, Institute for, Getty, Ukraine's, White House National Security Council, Ukrainian Locations: Ukraine, Donetsk, Moscow, Russia, Toretsk, Anadolu, Kharkiv, Ukrainian, Russian

☆ Brent tops $80 per barrel as oil analyst flags ‘phase of deterioration’ in the Middle East
▼ + stars: | 2024-07-31 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Brent futures topped the $80-per-barrel-threshold on Wednesday, as Iran's claim that Hamas political leader Ismail Haniyeh was assassinated reignited tensions in the Middle East. The Ice Brent contract with September expiry were trading at $80.32 per barrel at 09:45 a.m. London time, up by 2.15% from the Tuesday close price. Oil gained ground amid exacerbated hostilities in the oil-rich Middle East region, where Israel has been fighting Iran-backed Palestinian militant group Hamas since the latter's terror attack in October. The Jewish state's decision to carry out a retaliatory campaign in the Gaza Strip has since broadened the conflict, with Israel trading fire with other Iran-supported factions, such as Lebanon's Hezbollah and Yemen's Houthi. "But now we're moving into a phase of deterioration into the Middle East that we believe is going to capture oil traders' attention and get them to return some material risk premium into the price of Brent.

Persons: Brent, Ismail Haniyeh, Ice Brent, Yemen's, Israel, Ayatollah Ali Khamenei, Clay Seigle, Emily Tan Organizations: Ice, Hamas, Revolutionary Guard, Republic News Agency, CNBC, Israeli Ministry of Foreign Affairs, Minister's Office, Rapidan Energy Group Locations: London, Israel, Iran, Gaza, Tehran, Iran's, Ukraine, Brent

☆ Sanctions-hit Russia is rushing to set up payment systems, including crypto, to make trading easier
▼ + stars: | 2024-07-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewRussia is stepping up sanctions-evading measures to keep its international trade flowing. Russian central bank governor Elvira Nabiullina said the first transactions are expected by the end of this year, per Reuters. An existing ban on crypto payments in Russia remains, but Moscow's greenlighting crypto for international trade marks a significant shift. Russia could be eying a digital-currency-based settlement systemIt isn't clear how Russia's crypto and digital currency regimes will shape up. Even China, which has one of the world's most advanced digital currencies, relies on a "two-tier" system involving banks as wallet-holding agents.

Persons: —, Elvira Nabiullina, Nabiullina, Vladimir Putin, Moscow hasn't, Christopher Granville, Granville Organizations: Service, Russia's, Duma —, Reuters, Business, Bloomberg, US Treasury, GlobalData, Lombard, Russia Locations: Russian, Russia, Ukraine, cryptocurrencies, Hong Kong, Moscow, China, UAE, Turkey, Austria, India

☆ Russia considers legalizing crypto for global payments as it faces ongoing sanctions
▼ + stars: | 2024-07-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Illustrative image of two commemorative bitcoins seen in front of the national flag of Russia displayed on a computer screen. Russia is considering legalizing the use of cryptocurrency for international payments as the country faces ongoing financial pressure from Western sanctions. The State Duma, which is the lower house of the Russian Parliament, will on Tuesday consider a law that permits making international payments via cryptocurrencies, Elvira Nabiullina, the governor of Russia's central bank, said Tuesday. Russia's central bank is also itself looking to move money across borders using crypto, with its chief saying crypto-based payments will take place before the end of 2024. In January 2022, the Russian central bank proposed banning the use of crypto for transactions, as well as the mining of digital currencies, citing threats to financial stability, citizens' wellbeing and monetary policy sovereignty.

Persons: Elvira Nabiullina, Nabiullina Organizations: Duma, State Duma, Russian Federation Council, RIA Novosti, Reuters, Russian Embassy, CNBC Tuesday Locations: Russia, Russian, Russia's, State, cryptocurrencies, London

☆ Ukraine says Russian cruise missile submarines are out in force as its Black Sea surface fleet falls back
▼ + stars: | 2024-07-30 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

Read previewThe Russian navy has simultaneously deployed three of its cruise missile submarines in waters within the general Black Sea area, Ukraine's navy says. Referencing surface ship losses, he said that Russia's Black Sea Fleet has been "called a submarine fleet," adding that "now, it's true." Coupled with the drone boat attacks, these triggered the withdrawal of the Black Sea Fleet to other bases in the area. SBULacking a traditional naval force able to compete with Russia's Black Sea Fleet, Ukraine has relied on drone boats and missiles to defeat Russian ships in the Black Sea. AdvertisementCountering the serious threat posed by Russian cruise missile submarines operating in the region is a more difficult challenge than targeting and engaging surface ships.

Persons: —, Dmytro Pletenchuk, Pletenchuk, Lloyd Austin Organizations: Service, Sea Fleet, Business, Facebook, Fleet, EG, Kilo, Getty Images, Russian, Black, US Locations: Russian, Crimea, Russia, Ukrainian, Azov, Rostov, Ukraine, Novorossiysk, STRINGER, Sevastopol, Russia's

☆ India and China joined Russia's Navy Day celebrations as Putin tries to project anti-Western group
▼ + stars: | 2024-07-29 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +1 min

Russia's Navy Day saw participation from India and China, bolstering Putin's anti-Western ties. There was a notable absence of Russia's Black Sea Fleet at the parade, after losses to Ukraine. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia's Navy Day saw warships from India and China join the celebrations as President Vladimir Putin sought to project the strength of his anti-Western alliance. China sent the Jiaozuo, a Type 052D destroyer, and India sent the Tabar, a stealth frigate, to the naval parade in St Petersburg on Sunday, according to Russia's foreign ministry.

Persons: Putin, —, Vladimir Putin, La Organizations: Russia's, Service, 052D, Business Locations: India, China, Ukraine, Germany, St Petersburg, Algeria

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