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Russia's government has spent around half a trillion rubles since 2020 to fund a program offering mortgages at rates as low as 8%. But that program has ushered a wave of Russians into the nation's real estate market, which has sent property prices soaring. Residential property prices in Russia rose to a fresh record in 2023, according to data from the Bank for International Settlements. AdvertisementRising property prices are largely attributed to increased housing demand over the past few years. The Bank of Russia also reported "signs of overheating" in the mortgage lending market late last year.
Persons: , Russia's, Elvira Nabiullina, Aleksei Kiselev, Kiselev Organizations: Service, Bloomberg, Business, Bank for International, Urban Economics, Bank of Russia, Bank of, Florence School of Banking, Finance, Inflation, Carnegie Endowment, Bank of Russia's Locations: shuttering, Russia, Russian, Bank of Russia
Read previewNew rules from Ukraine's allies about how it can use weapons they've supplied could have a strong impact on its long-awaited F-16s. That's because Ukraine now has permission to use weaponry given by its allies to hit targets on Russian soil. George Barros, a Russian military expert at the US-based Institute for the Study of War, said this will make the F-16s more effective. AdvertisementEven so, the experts said that the F-16s will make a difference for Ukraine, without being a total game changer on their own. The jets will help replenish lost aircraft, deter Russian jets, and act as air defenses.
Persons: , George Barros, I'm, Barros, Peter Layton, it's, Layton, didn't, Russian Su, YURI KADOBNOV, Michael Clarke, Mark Cancian, there's, Clarke, Tim Robinson Organizations: Service, Russia, Business, Wing Public Affairs, Griffith Asia Institute, Royal Australian Air Force, Ukraine, Republicans, Getty, Marine, Center for Strategic, International Studies, UK's Royal Aeronautical Society Locations: Ukraine, Russian, Russia, AFP, British, Denmark, Netherlands, Norway, Belgium
Read previewThe Russian Aerospace Forces are using a new munition in Ukraine that might change the situation on the ground. In June, Russian aircraft deployed for the first time the FAB-3000 M-54 glide bomb. Ukrainian outlets reported the use of the glide bomb against Ukrainian troop concentration points in Kharkiv Oblast in eastern Ukraine. Relying on a combination of stand-off and glide munitions, Russian aircraft have been targeting Ukrainian critical infrastructure and urban centers. But beyond causing some additional casualties to the Ukrainian forces, Russian tactical aviation hasn't made a difference.
Persons: , Stu, Avi, lar, hav, tim e s and Organizations: Service, Russian Aerospace Forces, Russian, Business, FAB, for, Ukrainian Air Force Locations: Ukraine, Kharkiv Oblast, Russian, 🇷🇺🇺🇦
Russia's former President Dmitry Medvedev said that the US erroneously believes it won the Cold War. "What's more, it is now just one step away from losing it completely," Medvedev added. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia's former President Dmitry Medvedev said the US had erroneously "decided that it had won the Cold War." He added: "What's more, it is now just one step away from losing it completely."
Persons: Dmitry Medvedev, Medvedev, Putin, Organizations: Service, Russia's Security Locations: St Petersburg
Near the border of northeastern Ukraine, some of Russia's lethal Su-34 fighter jets sit in the open. The bombers have been used to pound Ukraine with regular barrages of glide bombs. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNear the border with northeastern Ukraine, some of Russia's deadly Su-34 fighter bombers lie exposed on the tarmac of a military airfield as they await orders to carry out their next attack. Voronezh Malshevo airbase is a launching point for jets operated by the Russian Air Force's 47th Guards Bomber Aviation Regiment.
Persons: Organizations: Service, Russian Air Force's, Guards Bomber Aviation Regiment, Business Locations: Ukraine, Voronezh Malshevo, Kharkiv
Already, Russia's military and China's People's Liberation Army have held around 25 joint exercises since 2005, involving ships, aircraft and ground troops. Equally important is that China has become a key enabler of Russia's war in Ukraine. Advertisement"Policymakers and planners should avoid overestimating the state of military cooperation and operational integration that exists between Russia and China," RAND warned. AdvertisementDespite boasting of their military ties, Russia and China don't have much faith in each other's military prowess. In their 2001 friendship treaty, China and Russia did agree to consult with each other should either nation be attacked.
Persons: Mladen Antonov, Russia's, Mark Cozad, Cozad, Hitler, Michael Peck Organizations: Service, Communist, Business, NATO, RAND Corp, Liberation Army, British, RAND, PLA, People's, Army, Russian, Grand Alliance, Western Allies, Central, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Soviet Union, China, Beijing, Moscow, U.S, Russian, Europe, Taiwan, Ukraine, Russia, Britain, South Korea, America, Vietnam, Korea, Syria, West, Central Asia, United States, Forbes
Read previewSmall aerial drones have dominated the battlefield in Ukraine, but according to French Army Chief of Staff Gen. Pierre Schill, they could soon lose their combat advantage. "The life of impunity of small, very simple drones over the battlefield is a snapshot in time," Schill said. ADRIAN DENNIS/ Getty ImagesThe use of drones will likely fluctuateFormer British Army officer Christopher Lincoln-Jones told Business Insider that the use of small drones in warfare would likely "ebb and flow." Greg Bagwell, the UK Royal Air Force's former Deputy Commander, told BI "there is some truth" to Schill's comments about the future of small drones in battle. Both sides are also pumping money into developing AI-powered drones that can bypass electronic warfare systems.
Persons: , Pierre Schill, Schill, ADRIAN DENNIS, Getty, Christopher Lincoln, Jones, they're, Greg Bagwell, it's, Bagwell, Forbes Organizations: Service, French Army, Defense, Business, British Army, Royal Air, NATO, FPVs, Lincoln, Atlantic Council Locations: Ukraine, Paris, Lincoln, Russia
Russia's energy trade likely boomed last month despite sanctions. That's a 50% increase from the prior year, a sign Moscow's energy trade is getting on despite restrictions. According to Reuters, Russia's oil and gas revenue is set to surge to $9.4 billion in June, up roughly 50% from the $6 billion it took in from oil and gas sales in June of last year. The increase in revenue has largely been spurred by declining subsidies to Russia's oil refineries, which fell $60 billion from last month. That may encourage refineries to export oil and gas overseas for a higher price, as opposed to keeping oil and gas for domestic sales.
Persons: , That's Organizations: Reuters, Service, Kremlin, The Bank of Russia Locations: That's, Moscow, China, India, Ukraine, Russia
Mark Rutte, the long-serving Dutch prime minister, was formally named the new secretary-general of NATO on Wednesday, putting an experienced, strongly pro-Ukraine leader with a reputation for conciliation at the head of the alliance. The decision, sealed by NATO ambassadors during a meeting at the 32-nation alliance’s headquarters in Brussels, removes a potentially contentious issue from the alliance’s 75th anniversary summit meeting next month in Washington. President Biden and his NATO counterparts will formally welcome Mr. Rutte to their table at a summit, which begins on July 9. Long a favorite of Mr. Biden for the post, Mr. Rutte served as the Dutch prime minister four times, for nearly 14 years, building complicated coalitions through debate and compromise. Those skills should serve him well in an alliance that works by consensus, where one country can block the intentions of the rest.
Persons: Mark Rutte, Rutte, Jens Stoltenberg, Donald J, Trump, Biden, Long, Mr Organizations: NATO, Ukraine Locations: Ukraine, Brussels, Washington
The Ukraine women’s team was then invited to live and train in a safe environment by their Japanese colleagues, where they spent a fortnight in June 2023. The Ukraine women’s team also spent another two months in the US, where they were hosted by local universities. A view shows residential buildings destroyed during Russia’s invasion of Ukraine in the town of Irpin, outside Kyiv, Ukraine April 29, 2022. Valentyn Ogirenko/ReutersDifficult training conditionsThe conditions under which the athletes have prepared for the Paris Olympics affected the team’s results. For Kolyadenko, getting a license and preparing for the Paris Olympics was more difficult than for any other competition in her career.
Persons: Iryna, , ” Kolyadenko, , Oleksandr Klymenko, Matviy Bidnyi, Olga Kharlan, wouldn’t, Kolyadenko, Iryna Kolyadenko, Svitlana Vlasova, rappelling, Volodymyr Evonov, ” Evonov, , Evonov, Valentyn Ogirenko, – Kolyadenko, Oksana Livach –, Bidnyi Organizations: Ukraine CNN —, Paris Olympics, Russian, CNN, Reuters, Ukrainian Ministry of Sport, Paris Games, Paris, Tata, Tokyo, Ukrainian, Olympics, Ministry of Sports Locations: Kyiv, Ukraine, Russia, Ukrainian, Dmytrivka, Kyiv region, Paris, Russian, Turkey, Kolyadenko, , Kherson, Crimea, Irpin, Kharkiv
Without a conventional navy, Ukraine has looked to innovative ways to counter Russia's sea power. Ukraine's sea drones will soon work as squads to mimic a warship's capabilities, a commander said. Sea drones have taken out a chunk of Russia's Black Sea Fleet, and damaged the Kerch Bridge. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUkraine's sea drones are being marshaled into squads that can replicate the abilities of a single warship, a Ukrainian commander said.
Persons: , Brig Gen Ivan Lukashevych Organizations: Service, Wall Street, Business Locations: Ukraine, Kerch, Ukrainian
Recent drone footage shows a Russian soldier killing a wounded comrade in combat. Experts say the incident highlights violence and disregard among Russian forces. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDrone footage showing a Russian soldier shooting a comrade hurt in combat highlights the "brutal culture" of "callous" behavior in the Russian armed forces, war experts say.
Persons: Organizations: Service, Business Locations: Russian, Washington, Russia
Read previewRussia's President Vladimir Putin and North Korean leader Kim Jong Un recently signed a defense pact to protect against what they characterized as the malign forces of US imperialism. AdvertisementXi Jinping and Kim Jong Un watch a large group callisthenics and art performance at the May Day Stadium in Pyongyang, DPRK, June 20, 2019. An emboldened Kim Jong UnRussia's extra military power could embolden Kim to act more erratically and aggressively. AdvertisementThis means that China has enough influence over both Russia and North Korea to exert control over their new alliance. However, "they do know that China plays an irreplaceable role for both Russia and North Korea," she said.
Persons: , Vladimir Putin, Kim Jong, it's, Putin, Kim, Xi Jinping, Danny Russel, Obama, Xi, embolden Kim, Russell, Yun Sun Organizations: Service, North, Business, Associated Press, Xinhua, Agency, Getty Images, Stimson, CNN Locations: East Asia, Russia, North, China, DPRK, Asia, North Korea, Korea, Ukraine, Beijing, Pyongyang, Getty Images Russia, Washington
Read previewUkrainian uncrewed surface vessels are laying undersea mines that have already damaged several Russian warships in the Black Sea, The Wall Street Journal reported. The paper reported that the mines have damaged four Russian warships to date, including the missile corvette Samum and the patrol ship Pavel Derzhavin. AdvertisementWhile successful attacks on Russian ships using sea drones packed with explosives have been well documented, the use of drones to lay mines has not received the same attention. At the time, intelligence sources briefed Reuters and Ukrainan media that it had been struck by a Sea Baby drone. AdvertisementDespite having no conventional navy, Ukraine continues to punch above its weight in the Black Sea.
Persons: , Brig Gen Ivan Lukashevych, Lukashevych, Pavel Derzhavin, Lukashevych's Organizations: Service, Street Journal, Business, Reuters, Fleet Locations: Russia, Sevastopol, Ukraine, Novorossiysk
Read previewNew video footage appears to capture the first combat employment of Russia's 6,600-pound glide bomb in Ukraine, a highly destructive capability that analysts say could be a tremendous problem for Kyiv. The munition was outfitted with a unified planning and correction module that turns it into a glide bomb, meaning it could have been air-launched from far away. Reportedly the first video of a Russian FAB-3000 UMPK glide bomb strike. Advertisement"Russian forces have already increased guided and unguided glide bomb use against Ukraine, particularly in Kharkiv Oblast, to devastating effect," they said. Unlike conventional gravity bombs, glide bombs have flight control surfaces and are standoff weapons.
Persons: , VilUVEYlmJ, — Rob Lee Organizations: Service, Business, Russian FAB, FAB, Institute for, Ukrainian, Ukraine, Russian Defense Ministry, Russian Defense Ministry Press Locations: Ukraine, Kyiv, Kharkiv, Russian, Russia, Kharkiv Oblast, Ukrainian
Russia has dropped 103 bombs on its own territories in the last four months, Astra reported. This comes after the outlet wrote that three more FABs were found in Russian villages near the border. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussian opposition media channel Astra reported on Wednesday that the Kremlin's forces had deployed three Soviet glide bombs this week onto Russian-controlled regions. No injuries were reported, but Astra assessed that the new incidents mean Russia has dropped a total of 103 bombs on its own territories in the last four months.
Persons: Organizations: Astra, Service, Business Locations: Russia, Ukraine, Krapivnoye, Belgorod
Read previewNATO member Denmark has given Ukraine permission to use the F-16s it receives to hit military targets within Russia. AdvertisementThe exact number of F-16s Ukraine will get to begin with is unclear, but it's not expected to be many. But in Russia, Ukrainian aircraft can also expect to battle the Russian Air Force in addition to enemy air defenses. It would also bolster a capability that has been heavily strained by relentless Russian attacks, and that's air defense. But they said these fighter jets will be useful for Ukraine by replenishing lost aircraft, deterring Russian jets, and acting as defenses.
Persons: , George Barros, Israel Aerospace Industries Barros, it's, Mark Cancian, Tim Robinson, Peter Layton, Volodymyr Zelenskiy, Mette Frederiksen, Ritzau Scanpix, Mads Claus Rasmussen, there's, Michael Clark, Clark, Cancian, ISW, Layton, Robinson, DIMITAR DILKOFF, Noble, Chanceler Organizations: Service, Business, Ukraine, Analysts, Israeli Military Industries Systems, Israel Aerospace Industries, Marine, Center for Strategic, International Studies, UK's Royal Aeronautical Society, Griffith Asia Institute, Royal Australian Air Force, Denmark's, Skrydstrup Airbase, REUTERS, Politico, Republicans, Russian Air Force, Getty, Noble Eagle, US Air Force Locations: Denmark, Ukraine, Russia, Moscow, Russian, Israeli, Netherlands, Norway, Belgium, France, Skrydstrup, Vojens, Arizona, Romania, British, Crimea, Ukrainian, AFP
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRussia is rushing to expand its arms production by buying secondhand machine tools from China through covert networks to get around Western sanctions. A report from Washington-based nonprofit think-tank The Center for Advanced Defense Studies, or C4ADS, said that Russia's arms manufacturers were "scrambling to expand their production capabilities using whatever they can get." And Russian defense industry analyst and lead researcher Allen Maggard told the Financial Times that the decades-old machine tools Russia is importing are still effective. AdvertisementGlenn Gray, the president of Gray Machinery, told the FT he'd never heard of the company.
Persons: , Allen Maggard, Andrey Mironov, Glenn Gray, Tsugami, hasn't, C4ADS, UMIC —, ELE Organizations: Service, Advanced Defense, Business, Financial Times, Kremlin, AMG, ELE Technology, Gray Machinery Locations: Russia, China, Washington, Ukraine, UAE, Russian
Read previewRussian President Vladimir Putin made his first visit to North Korea in 24 years on Wednesday, with North Korean leader Kim Jong Un saying the two nations have upgraded their partnership to "a new high of alliance." AdvertisementState-run Russian news agency TASS reported that North Korea returned the favor by gifting Putin several pieces of art depicting his likeness. "North Korea is supporting Russia right now," he added, "but I think more significant is that now, at least in theory, Russia will have to support North Korea." AdvertisementRussia and North Korea have developed closer ties since the launch of Russia's full-scale invasion of Ukraine in February 2022. CNN noted that while Putin did not explicitly describe the new agreement as an alliance, he acknowledged that ties between North Korea and Russia have reached a "new level."
Persons: , Vladimir Putin, Kim Jong Un, Kim, gifting Putin, Putin, Ramon Pacheco Pardo, Antony Blinken, Biden Organizations: Service, North, Yonhap News Agency, Business, Korean, TASS, KF, VUB, Brussels School, Governance, Vrije Universiteit Brussel, UN, Ukraine, NBC News, CNN Locations: North Korea, Korea, VUB Korea, Vrije, Russia, Moscow, Pyongyang, Ukraine
Russian naval ships left Cuba on Monday after a five-day official visit. Among them, the submarine Kazan — with visible damage including panels falling off. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOne of Russia's most advanced new submarines, which just left Cuba, is "falling apart" with damage on its hull, according to an OSINT analyst. Markus pointed to soundproofing panels "falling off" the front part of the submarine's hull.
Persons: , Marijn Markus, Markus Organizations: Service, Business Locations: Cuba
Read previewOver the weekend, Ukraine's President Volodymyr Zelenskyy rallied countries from around the world to support his call for Russia to end its invasion. It has been especially effective in the "global South" of non-Western powers whose wealth and influence on world affairs is growing. AdvertisementHowever, powerful non-Western countries refused to take part. Russia has also seized on claims that Western support for Israel in its war against Hamas is evidence of hypocrisy. AdvertisementIt is to Putin's advantage when those countries see Russia vs. Ukraine and Israel vs. Hamas as equivalent struggles, both complex enough to avoid taking a side.
Persons: , Volodymyr Zelenskyy, Zelenskyy, Russia wasn't, didn't, Ukraine —, Vladimir Putin, Putin, Natalie Sabanadze, Pavan Kapoor Organizations: Service, BBC, Business, Ukraine, West, Chatham, ANC, Israel, Hamas Locations: Russia, Switzerland, China, Saudi Arabia, Brazil, India, South Africa, Ukraine, American, Moscow, Soviet, West, USSR, Soviet Union, Pakistan, Western, Israel, Indian
Read previewIf there is one place Ukraine is winning in the war against Russia, it's Crimea, experts say. Ukrainians have since referred to the Black Sea peninsula as "occupied Crimea," and Zelenskyy has continually stated that any peace agreement must see it returned to Ukraine. Meanwhile, Ukraine, which lost its traditional naval fleet during the annexation of Crimea, has targeted Russia's Black Sea fleet with great success using sea drones. Ukraine even claimed to have sunk the Black Sea Fleet's flagship, the Moskva. "Crimea allows for power projection over the rest of the Black Sea.
Persons: , Volodymyr Zelenskyy, Vladimir Putin, Olga Khvostunova, ", Zelenskyy, Elina Beketova, Russia's, VASILY MAXIMOV, Maria Snegovaya, Beketova, Putin, Dmitry Pletenchuk, OLGA MALTSEVA, Catherine the Great, Snegovaya, Alexei Volkov, DVIDS Frederik Mertens, Ukraine's, Budanov Organizations: Service, Business, Eurasia, Foreign Policy Research, Federal Assembly, NATO, Centre for, Fleet, Getty, Center for Strategic, Studies ', Eurasia Program, Black, Ukraine, Security, Anadolu Agency, Directorate of Intelligence, Guardian, UK Ministry of Defence, MoD, Getty Images, National Union of Hospitality Industries, Reuters, Wing Public Affairs, Hague, Strategic Studies Locations: Ukraine, Russia, it's Crimea, Crimea, Sevastopol, Moskva, AFP, Studies ' Europe, Kerch, Ukraine's, Ukrainian, Rostov, Crimean, Russian, Saki
AdvertisementBut these were pinprick attacks designed to embarrass the Kremlin and demonstrate that nowhere in Russia is safe from Ukrainian attack. The aircraft didn't appear to catch on fire, suggesting the damage wasn't catastrophic, perhaps to be expected from small drones with small warheads. The Akhtubinsk attack suggests that Russian electronic warfare capacity has sufficient breadth to cover the front, but not depth to protect the Russian interior. Much like Russia's vaunted T-14 Armata, the Su-57 has been conspicuous by its absence from the Ukraine war. AdvertisementEven with American-made F-16 fighters arriving soon, Ukraine's air force probably can't drive off Russian jets lobbing glide bombs from 50 miles behind Russian lines, safe behind ground-based air defenses.
Persons: Justin Bronk, Bronk, Su, Michael Peck Organizations: Service, Russian Air Force, Kyiv, Royal United Services Institute, Russian, NATO, West, Stealth, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Russia, British, Ukraine, Ukrainian, Volgograd, Stalingrad, Russian, Forbes
The Group of Seven has agreed in principal to provide Ukraine with a $50 billion loan. Profits from Russian frozen funds are to be used as collateral to back the loan. AdvertisementThe Group of Seven has finally moved the dial on a contentious idea to provide funding to Ukraine by using Russian funds. AdvertisementRoughly $322 billion in funds were frozen after Moscow invaded Ukraine and have sat untouched for over two years. That could mean Moscow taps Western funds in the country and punishes any Western companies that have remained in Russia.
Persons: , Putin, we're, Joe Biden, Biden, Michael Froman, Donald Trump, Vladimir Putin, Charles Lichfield, Chatham House's Timothy Ash Organizations: Seven, Service, Kyiv, European Commission, of Foreign, CNBC, Moscow, The, CEPA, Financial Times Locations: Ukraine, headbutting, Moscow, Europe, Kyiv, Russia, France, Germany
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe arrival of a new type of aircraft for Ukraine will give it an advantage it's not had before, and will help boost the effectiveness of its promised F-16s, experts told Business Insider. Sweden announced late last month that it is giving Ukraine two ASC 890 airborne control and surveillance aircraft, which act as command centers in the air. They remain highly vulnerableDuring the war, Russia has been using its own A-50 Airborne Early Warning & Control aircraft to monitor Ukraine's air space and coordinate attacks. AdvertisementThe experts said hanging back is also likely the best approach for Ukraine's first F-16s, so the jets can protect cities and infrastructure while staying away from most of Russia's weaponry.
Persons: , it's, Ukraine Tim Robinson, Pal Jonson, Jose Miguel T, Mark Cancian, Peter Layton, Alexander Zemlianichenko, Layton, Cancian Organizations: Service, Ukraine, Business, UK's Royal Aeronautical Society, Swedish, US Air Force, Marine, Center for Strategic, International Studies, Griffith Asia Institute, Royal Australian Air Force, Control, AP, Aircraft Locations: Ukraine, Sweden, Swedish, Russia, Denmark, Netherlands, Norway, Belgium
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