Ukraine Recap: Putin Downbeat as Key Grain Deal Deadline Looms
(Bloomberg) -- Russian President Vladimir Putin spoke with South African counterpart Cyril Ramaphosa and sounded a downbeat note on the Black Sea grain deal that expires on Monday. South Korean President Yoon Suk Yeol said he and President Volodymyr Zelenskiy agreed to a comprehensive package of security, humanitarian and reconstruction aid after their meeting in Kyiv on Saturday. Yoon said his nation will increase non-lethal ammunition support and provide demining equipment, among other things.Most Read from BloombergUS Homeowners Are Tapping $9 Trillion in Real Estate WealthTesla Starts Cybertruck Production Two Years Behind ScheduleTop-Ranked Hedge Fund Chief Sees S&P 500 Entering ‘No Man’s Land’BlackRock’s Rieder Says US Doesn’t Have to Fall Into RecessionHistory Says It’s Time to Buy Long-Term Bonds as Peak Rates NearUkraine’s counteroffensive in the east and south continues and reportedly made small gains on Friday. The action comes as a top US intelligence officer this week term
(Bloomberg) -- Russian President Vladimir Putin spoke with South African counterpart Cyril Ramaphosa and sounded a downbeat note on the Black Sea grain deal that expires on Monday. South Korean President Yoon Suk Yeol said he and President Volodymyr Zelenskiy agreed to a comprehensive package of security, humanitarian and reconstruction aid after their meeting in Kyiv on Saturday. Yoon said his nation will increase non-lethal ammunition support and provide demining equipment, among other things.
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Ukraine’s counteroffensive in the east and south continues and reportedly made small gains on Friday. The action comes as a top US intelligence officer this week termed the war at a stalemate. In his nightly video address on Friday, Zelenskiy described a “detailed” meeting with his top commanders to discuss current conditions, including “the rational use of shells, supplies from partners and our own Ukrainian production.” Russian forces “are investing everything they can” to stop Kyiv’s advance, he added.
Debate continues about where Wagner forces earlier deployed in Ukraine, Africa and elsewhere will next operate from, following June’s attempted mutiny and subsequent revelations — including of a meeting with Putin days after the uprising. Wagner mercenaries have surfaced in Belarus as military trainers, and on Saturday, Ukraine’s border service reported the movement of Wagner forces in Belarus who had arrived from Russia.
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Black Sea grain export deal set to expire Monday
Markets
Grain Prices Rise on Ukraine Uncertainty
Wheat and corn prices rose for a second session on Friday as uncertainty looms over the Ukraine grain export deal that’s set to expire on Monday.
Time’s running out on the Black Sea agreement that’s allowed Ukraine to export 33 millions tons of grain and foodstuffs in the past year. Putin told Ramaphosa that Russia’s demands still hadn’t been met. Moscow has said that more of Ukraine’s grain should be sent to developing countries, including in Africa - although its availability on the world market makes grain more plentiful in general. Russia is currently the dominant world wheat supplier.
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